As a Transport Owner or Operator in Nigeria, GIT insurance is your life jacket in the event of damaged or lost freight being transported. Your profitability and growth rate will depend on how much cover against theft, loss or accidents whilst in transit you are able to secure.
The transportation of goods from manufacturers to distributors and finally to consumers is an important factor in commerce, buying, and selling today. However, there are also risks involved like theft, delivery delay, and accident of the delivery vehicle in this supply network.
These risks, though unforeseen, can disturb the smooth transit of your goods and result in significant financial losses for businesses. In response to these challenges, Goods in Transit (GIT) insurance is usually taken as a protective measure in the Nigerian market.
Let's discuss what Goods in transit insurance is, the types of goods covered by GIT in Nigeria, top GIT insurance solutions in Nigeria, and how to identify a good GIT insurance policy.
GIT insurance is a type of insurance coverage that protects a seller's goods while they are being transported from the seller to the buyer either through road, sea, air, or railways. As a seller or business owner, you must be careful when transporting goods, especially considering the state of Nigerian roads. GIT insurance is helpful and important.
In the event of loss or damage to the insured goods during transit, you, the policyholder, can file a claim with the insurance provider to recover the financial losses incurred. The insurance company will evaluate the claim and provide compensation based on the terms and conditions of the policy.
AXA Mansard offers tailored GIT insurance solutions that protect goods wholly, from departure to arrival at the end-destination. It covers you against the risk associated with carrying goods from one destination to another within Nigeria.
With Curacel’s advanced technology, AXA Mansard, a frontrunner in African insurance services, surmounts tariff management challenges to standardize its operations, enhancing efficiency and customer service.
AXA Mansard, serving over 250,000 customers across Africa, found tariff management to be a significant impediment. Standardizing tariff formats across hundreds of providers was an arduous task that hindered automation and efficient claims processing.
AXA Mansard leveraged Curacel's AI-powered insurance infrastructure to achieve a higher degree of automation in claims collection, adjudication, reconciliation, and payments, ushering in a new era of operational efficiency for AXA Mansard. Read more on How AXA Mansard fully standardized their tariffs with Curacel.
Other top GIT insurance providers in Nigeria include:
Of course, any business move or plan must be optimized to improve sales and profits while reducing risks to the very minimum. The same can be said whenever you apply for any GIT insurance coverage.
There are specific steps you can take to maximize profits with them.
Goods in Transit (GIT) insurance in Nigeria is important for safeguarding businesses transporting goods and products. It protects against several risks encountered while transporting goods. Be it theft, damage, accidents, or natural disasters.
It is also an excellent way to promote trust between your partners and shareholders since they know their money is secured. Furthermore, during the claim process, depending on your insurance company, you can cover the loss by repair, payment, reinstatement, or replacement.
Contact our team today, let’s help you explore growth opportunities in GIT insurance in Nigeria with our AI-powered insurance management and distribution infrastructure . Get started now.
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