Spott, an InsurTech startup fortifying online businesses with data-powered insurance, has launched suspension coverage for e-commerce businesses.
Founded in 2021 and headquartered in Tel Aviv, Spott is a data-powered insurance platform built for eCommerce businesses.
The company tackles risks such as lawsuits and sales disruptions with a “new breed” of dynamic insurance products, including liability insurance built specifically to meet the needs of digital businesses.
Spott’s real-time risk data platform leverages AI to accurately assess, quantify, and price risk.
The new 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.
According to Spott, 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.
Amit Batzir, co-founder and co-CEO of Spott, said, “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.
“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.”
Last year, Lukango, an InsurTech that offers custom insurance built around small businesses, raised £275,000in its pre-seed round.
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