Transforming Transit Insurance: The Innovative Alliance of Vitesse and Anansi in the InsurTech Arena

Retailers face a significant challenge when it comes to transit-related complaints. These complaints not only cause frustration for customers but also impact the retailers themselves, often resulting in the loss of valuable customers. However, with the support of Vitesse, Anansi is stepping in to provide relief and transform the transit insurance experience.

Impact on Retailers

When it comes to complaints regarding delivery, a staggering 75% can be attributed to issues with the courier. This means that more often than not, it is the retailers who suffer, as they bear the brunt of these complaints and ultimately lose customers in the process. It is a frustrating situation for retailers who strive to provide a seamless buying experience for their customers.

Anansi’s Platform

Anansi is part of a wider insurtech revolution that is revolutionizing traditional insurance products and processes into an automated and hassle-free experience. Their platform seeks to address the shortcomings of the current transit insurance industry and provide comprehensive protection for retailers and customers alike.

Issues in Transit Insurance

One of the key problems with transit insurance is the low coverage rate in the UK, with only 10% of all goods-in-transit being insured. This leaves a significant number of shipments unprotected and vulnerable to loss or damage. Additionally, the industry suffers from cumbersome onboarding and claims processes, ambiguous pricing, and inadequate courier insurance experiences. These shortcomings contribute to overall dissatisfaction among retailers and customers.

Anansi’s Embedded Insurance Platform

Anansi’s embedded insurance platform offers customers comprehensive protection and automates the entire insurance journey. From the moment a retailer onboards onto the platform to the issuance of policies, and even during claims and settlements, the entire experience is paperless. This not only streamlines the process but also ensures efficiency and transparency for all parties involved. Furthermore, payouts are parametrically triggered when a parcel is lost or delayed in transit, eliminating the need for lengthy claims procedures.

Benefits of Partnership with Vitesse

The partnership between Anansi and Vitesse has been nothing short of a game-changer. Megan Bingham-Walker, Co-founder and CEO of Anansi, expressed her delight in announcing the partnership with Vitesse. With the support of Vitesse, Anansi has been able to automate payments and facilitate multiple currency payments, making the entire process seamless and efficient.

Achievements Since the Partnership

Since Anansi and Vitesse joined forces in August 2022, they have achieved remarkable milestones. They have successfully launched their full shipping insurance product for retailers and third-party logistics providers (3PLs). This product aims to provide comprehensive coverage for all types of shipments, offering peace of mind to retailers and customers.

Furthermore, the partnership led to a capacity deal with a panel of global insurers, expanding Anansi’s reach and strengthening its offerings. Another significant achievement was the signing of Wowcher, the all-in-one shopping portal, as a partner. This partnership further solidifies Anansi’s position in the market and showcases the value it brings to retailers and their customers.

The collaboration between Anansi and Vitesse brings about significant improvements to the transit insurance process. By addressing the issues faced by retailers and customers, Anansi’s platform not only provides comprehensive protection but also streamlines the entire insurance journey through automation. With the support of Vitesse, Anansi is transforming the transit insurance landscape, offering much-needed relief to retailers and ensuring a seamless buying experience for their customers.

Explore more

Rakuten Eyes U.S. IPO for Expanding Credit Card Business

In a bold stride toward global financial dominance, a leading Japanese conglomerate, widely recognized for its expansive online shopping platform, is setting its sights on the American market with a potential initial public offering (IPO) for its burgeoning credit card division. This strategic move comes on the heels of the recent introduction of its first U.S.-based credit card, a product

Whispered Remark Fails to Prove Hostile Work Environment

This guide aims to help HR professionals, employers, and employees navigate the complex landscape of workplace harassment and retaliation claims under Title VII of the Civil Rights Act of 1964. By breaking down a real-world federal court case involving a whispered remark, it provides actionable steps to understand legal thresholds, assess workplace incidents, and implement policies that foster inclusivity while

Why Is Asian WealthTech Funding Dropping in Q3 2025?

I’m thrilled to sit down with Nicholas Braiden, a trailblazer in the FinTech space and an early advocate for blockchain technology. With his deep expertise in financial innovation, Nicholas has guided numerous startups in harnessing tech to revolutionize digital payments and lending systems. Today, we’re diving into the latest trends in Asian WealthTech funding for Q3 2025, exploring the sharp

How Will AXA Partners and bolttech Transform EU Insurance?

In a rapidly evolving digital landscape, the insurance industry across the European Union, the United Kingdom, and Switzerland stands at a pivotal moment, with customer expectations shifting toward seamless, integrated solutions that fit effortlessly into everyday transactions. A groundbreaking partnership between AXA Partners, a leader in B2B2C insurance distribution, and bolttech, a global InsurTech innovator, promises to redefine how insurance

Revolutionizing Technical Documentation with Generative AI

Technical documentation has long been a cornerstone of software development and IT service management, yet it often falls short, leaving teams grappling with outdated or incomplete resources that hinder productivity. A staggering number of developers report frustration with documentation, viewing it as a tedious chore that diverts valuable time from coding. This guide aims to transform that struggle by demonstrating