Azure Risk: Fast, fluid and digital multi-line insurance experiences
At DIA Munich 2022, Winnie Wong presented the opportunities in Hong Kong and explained how InsurTechs find good soil in the Hong Kong area. Winnie is a board member of the Financial Services Development Council and Chairman of the Hong Kong Federation of Insurers.
One of these InsurTechs based in Hong Kong is Azure Risk Limited. We are talking to its CEO, Anmol Sawlani, about his company and the opportunities he sees.
Can you please start by introducing your company?
Azure Risk Limited (Azure Risk) is an insurance broker and, more precisely, a digital provider of marine and freight forwarding insurance. We break down complex insurance products across the global transport and logistics segments for the Asia Pacific market, making quality cargo insurance more accessible to SMEs while ensuring improved service delivery to larger multinationals.
What kind of solutions do you offer?
Edge, our digital platform, is currently geared toward cargo and freight forwarders liability insurance. It provides secure policy management, including certificate issuance, amendments, and referrals, improving operational efficiency and functionality.
Given the improvements in operational efficiency, we can provide cost-effective, accessible insurance solutions to SMEs, a frequently side-lined sector. We do this without sacrificing cover quality and improve service delivery and execution.
We take this experience further by providing APIs, allowing for ‘one-click’ insurance purchases which can be used in on-demand applications or fully automated insurance to ensure all shipments are covered.
In addition to cargo and freight forwarders liability insurance, we also provide a tailored range of multi-line commercial and personal insurance products. The development of the range of insurance available on our digital platform Edge is underway.
What would you say is the benefit of Edge?
The success of Edge, our digital Cargo Insurance platform, is more than just good design, solid user experience, and smart engineering. We support product development with actionable strategy, engaging branding and marketing, and dependable customer service to build effective customer experiences.
Edge is designed around the user experience, clients, operations, and sales staff so they can easily access our digital platform from anywhere and onboard quickly. Our client-centric online tool dramatically reduces the administration around arranging cargo insurance. Some features include generating quotes in 30 seconds, instant insurance certificate issuance, simplified claims procedures, and a fast turnaround on referrals.
Through its API connection and automation, Edge can be integrated with our client’s systems to digitalise the insurance process. Users benefit from the efficiency that goes with multi-user access.
Who is Azure Risk?
Since our establishment in Hong Kong, we’ve increased our scalability by combining technology and insurance coverage. We expanded our initial offering from marine transport and logistics insurance and provide insurance for other lines, including trade credit, bonds, financial lines, cyber, keyman, group life, medical, and the film and events market.
Once a policy is in place, we don’t just walk away and disappear for a year. We’re available throughout the policy year for any questions, or if you have a claim, you’ll always have us at your disposal. We are proof that brokers who embrace technology will find opportunities,” Sawlani added.
“We are committed to being the partner our clients go to with anything challenging”Anmol Sawlani, CEO