Distribution Partnership Announcement: Otonomi Announces A Partnership With Zuru Latam To Offer A New Air Cargo Delay Solution.

OTONOMI
3 min readDec 12, 2023

Otonomi, a leading innovator in the insurance technology sector, is thrilled to announce its strategic partnership with Zuru LatAm, a digital platform in Latam that allows users to quote and contract their shipping insurance online. Zuru provides access to SMEs, logistics operators, and goods exporters with digitized cargo insurance coverage workflows and modern user experiences. The partnership provides access to offshore delay policies underwritten by international underwriters, via Otonomi’s US-MGA program.

  • Peru to the United States
  • United States to Peru
  • Worldwide — United States — Peru
  • Peru — United States — Worldwide

This collaboration marks a significant breakthrough in the insurance industry, as it combines cutting-edge technology with extensive sector expertise to enhance insurance offerings for the freight sector, providing claims resolution times 22x faster than industry standards. In a time when logistics interruptions in the Panama Canal for instance result in protracted shipping times, increasing cycle stock levels, leading to inflated asset prices, the need for API-powered insurance products and advanced risk solutions has never been more urgent.

Otonomi has developed a revolutionary parametric insurance platform specializing in covering critical air freight delays, addressing a $50 billion protection gap globally. Their platform utilizes advanced data analytics, real-time tracking, and weather monitoring to provide precise and efficient coverage pricing. In the fast-paced world of air freight logistics, where even minor delays can have far-reaching consequences, Otonomi’s platform fills a critical coverage gap.

By joining forces, Otonomi and Zuru Latam aim to provide comprehensive, easy-to-access, embedded parametric insurance options to clients involved in international cargo operations.

Key Benefits of the Partnership

Key benefits of this partnership include:

  • Tailored Coverage: Clients can expect personalized parametric insurance policies that precisely match their specific air freight requirements, reducing coverage gaps and supply chain disruptions.
  • Efficient Claims Processing: Otonomi’s platform simplifies claims processing by automating the evaluation of critical delay events, ensuring a rapid and seamless experience for clients.
  • Risk Mitigation: logistics operators, carriers, customs brokers, and other key logistics players can now proactively manage their exposure to delays and associated costs, making their operations more resilient and cost-effective.
Yann Barbarroux, CEO and Co-Founder, Otonomi

Gianmarco Scarsi, CEO and Founder, Zuru LatAm: “I am thrilled to announce our partnership with Otonomi for the implementation of air cargo delay insurance in Peru and soon in Latam. This innovative solution will revolutionize transportation by air, ensuring greater reliability and peace of mind for our clients. Together, Zuru Latam and Otonomi are set to elevate the standards of air cargo logistics, providing a seamless and secure experience for the transportation of goods in our region.”

This partnership demonstrates the insurtech industry’s commitment to delivering value through innovative collaborations. Zuru LatAm and Otonomi look forward to working together to create a more resilient and secure future for freight businesses worldwide.

For media inquiries, please contact:

  • Bertrand Leseigneur: marketing@otonomi.ai
  • Ricardo Mulanovich: rmulanovich@zurulatam.com

About Otonomi

Otonomi, a US licensed MGA and registered Coverholder, offers delay insurance for time-critical freight, a $6 Trillion market. Our unique product enables cargo shippers to mitigate their financial losses arising from freight delays, including but not limited to: business interruption, loss of sales, consequential damages, and contractual obligations penalties. Powering fully-automated online quoting and policy binding, freight forwarders white-label our platform to offer delay coverage in minutes. Our delay claim automation not only brings transparency to clients but also settles within 48 hours, making it the fastest cargo insurance settlement in the market.

www.otonomi.ai

About Zuru LatAm

Zuru LatAm is the first insurtech in the region focused on on-demand transportation insurance for importing and exporting SMEs. It began operations at the end of 2020 and currently serves SMEs in Peru and Mexico. Zuru’s goal is to be the digital platform that provides the best self-management experience, efficiency, simplicity and adequate cost of insurance in LatAm.

For more information, visit www.zurulatam.com

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OTONOMI

Next Generation Insurance for Time-Critical Freight