The great thing about insurtech is the endless stream of innovation coming down the track. If you sell business cover to SMEs and online specialists, maybe this is something they haven’t thought about covering?
Spott, the company fortifying eCommerce businesses with data-powered insurance, has announced the launch of its eCommerce marketplace suspension coverage. The new innovative offering allows eCommerce sellers to protect their online storefronts with a frictionless, one-click coverage solution that helps prevent account suspensions from impacting a business’s bottom line.
61% of online sellers’ biggest fear is being suspended or permanently banned from selling on leading marketplaces. With millions of merchants dependent on leading marketplace platforms like Amazon and eBay, losing selling privileges is surprisingly commonplace. Fighting suspensions through the appeal process is long and tedious and often results in the loss of income, reputation and customer trust.
Spott’s all-new suspension coverage offering for eCommerce sellers provides a 24/7 monitoring service to reduce the risk of suspension as well as support in navigating the appeals process to ensure the rapid reinstatement of accounts. This is achieved by leveraging the company’s unique data-powered capabilities to assess, prevent and recover from suspension events for marketplace sellers.
Spott’s proactive prevention suspension coverage includes:
● An automated auditing service to ensure eCommerce sellers remain compliant with the dynamic policy enforcements of marketplaces.
● Suspension avoidance by constant tracking of enforcement activity, identifying potential threats before they can be classified as a violation and real-time suggestions for quick fixes.
● Expedited appeal process where Spott manages the appeal from start to finish to rapidly resolve the issue so that account downtime does not impact an eCommerce businesses bottom line.
“Everyday eCommerce sellers are being suspended, denied or banned on marketplaces which brings severe stress to their income and reputation. We are excited to be expanding our suite of products to include this groundbreaking suspension coverage and provide a necessary safety net to eCommerce sellers,” said Amit Batzir, Co-founder and Co-CEO of Spott. “By helping reduce the risk of account suspensions taking place and limiting the damage it causes, we are fulfilling our mission of fortifying eCommerce businesses and making them financially resilient.”
This announcement comes on the heels of Spott introducing its revolutionary Pay-As-You-Sell model for insurance premiums, which enables eCommerce businesses to pay insurance according to how much they sell – never exceeding the original premium amount.
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