Insurance for Ecommerce Startup Spott Introduces Innovative Pay-As-You-Sell Premium Model

This advanced, data-driven payment approach allows e-commerce companies to pay premiums according to the products they sell.

Tel Aviv, Israel, November 15, 2022 /PR Newswire/ — spotis a company that powers its e-commerce business with data-powered insurance and today announced its launch. Pay As You Sell This allows e-commerce sellers to start paying premiums based on sales volume. It will not exceed the original premium amount. By releasing a pay-as-you-sell pricing model, Spott leveraged its deep understanding of e-commerce businesses and the need to link their costs with revenue generated to ultimately help finance digital businesses. reduce physical strain and increase resilience.

The e-commerce industry is maturing, and technological advances and the growth in available marketplaces have made it easier than ever to buy and sell online. report The industry is expected to grow by 56% over the next four years, $8.1 trillion By 2026.

As e-commerce grows, liability insurance has become a mandatory requirement in major markets. Product liability risk is closely correlated with the number of units sold, but long-standing traditional insurers has a payment approach based on projected annual revenue. Recognizing that e-commerce sales are dynamic and difficult to predict, Spott has created a number at the time of sale to allow e-commerce sellers to pay ongoing premiums related to actual sales. We created Pay-As-You-Sell to eliminate the need to pay a thousand dollars and let you focus on selling instead. Sell ​​without fear of loss that can erode your razor-thin margins.

Pay-As-You-Sell uses Spott’s advanced data-driven technology to collect and rigorously analyze business data in real time, gleaning insights from observable, high-grain data. After signing up through Spott’s fully digital process, insurance is applied instantly and payments are based on actual sales made by e-commerce merchants. Spott’s new insurance pricing approach allows sellers to pay no more than alternative full payment models, allowing e-commerce sellers to better manage cash flow and protect and enhance their financial stability.

“At Spott, we are challenging ourselves to find technological solutions that allow us to push the existing models of the past and create better ways to meet the unique needs of digital business. is constantly changing and insurance solutions must adapt accordingly.” Guy Salameh, Co-Founder and CEO of Spott. “We are excited to announce our new Pay-As-You-Sell service to make insurance more affordable and accessible to online merchants. We understand that they are frequently exposed to catastrophic risks, and we want to empower them, regardless of their size, to build strong businesses.”

About spots:

spot is a data-driven insurance platform built for e-commerce businesses. The company tackles risks such as litigation and sales disruption with new types of dynamic insurance products, including liability insurance specifically built to meet the needs of digital business. Spott’s real-time risk data platform leverages AI to accurately assess, quantify and price risk. Spott makes your e-commerce business more resilient by providing all merchants with one-click coverage at the best price, wherever they are. Founded in 2021, Spott Tel Aviv set up an office in New York. For more information, see: https://spottme.com/.

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