Business Daily Media


SME Business News

Freighty


The ultimate protection for your online purchases 

Freighty provides online shopping insurance to the masses 

Solving the last piece of the online shopping puzzle - Freighty is targeting Australia’s $35 billion e-commerce market  





If you’ve ever bought something online and it’s been damaged, lost or stolen, you’ll know the pain of trying to sort it out. Normally, it’s a complicated process and there’s never been a way to insure it arrives safely - until now.


Freighty is a new insurance product which offers consumers point-of-sale insurance on any goods purchased online. Freighty easily allows consumers the option to add insurance to their cart at checkout, similar to how travel insurance is offered.


Freighty comes to market off the back off an oversubscribed, initial capital raise of $500K, which will be used to turbocharge the company’s penetration in the Australian market and scale internationally.


The seed round was made up of strategic high net worth investors, as well as contributions from a Brisbane Based Fund Manager, Altor Alpha Fund, and Voyager Ventures, the VC arm of a Family Office.

Freighty has already secured key partnerships with one of the world’s leading brokers, BMS, and the world’s largest property and casualty insurance company, Chubb, which underwrites Freighty’s insurance.  


Frieghty CEO and co-founder Jason Byrne said the startup’s partnerships made it highly scalable with plans to target the entire Australian e-commerce market which is predicted to be worth A$35.2 billion by 2021. 


“Last year alone, Australia Post Group delivered more than 3.3 billion items to over 12 million addresses across the country. Many of these deliveries were travelling internationally or across states, making lost, damaged or stolen deliveries a very real concern for both retailers and consumers. Freighty helps provide protection as well as ensuring a hassle free claims process,” said Mr Byrne. 


“Our business helps retailers reduce delivery issues and enhance their profits by taking over the responsibility for managing claims. For customers, it's the simple click of a button to add the insurance to their cart at checkout for a tiny fraction of the transaction. Having just recently launched and coming up to the holiday season, we expect to see lots more retailers join us as deliveries surge, and more customers demand to have this option at check-out,” he added. 


Freighty’s online ‘hassle free’ claims process is underpinned by proprietary technology which processes, approves and pays claims within a matter of minutes with no paperwork or contact with retailers or insurers. The insurance covers any goods purchased online that get lost, damaged or stolen in transit up to the value of $5,000 per order.


It’s the first automated claims management system in Australia with the capacity to handle high volume, low value claims at a mass scale. The proprietary system can process a plethora  of payout claims (on lost, damaged or stolen deliveries) at the same time within minutes. 


Freighty’s innovative business model also offers retailers a commission on every policy sold, enhancing their profitability while simultaneously improving the customer experience, reducing delivery issues and cutting costs on staff needed to handle refunds, complaints and claims. Freighty is free for all retailers to install and integrates seamlessly into any website. 


Following the launch in Australia, Freighty plans to expand internationally to the US and Europe within the next few months. The global e-commerce market opportunity is in excess of $4 trillion dollars per year. 


Freighty was co-founded in 2018 by two experienced entrepreneurs, Jason Byrne and Alex Collins. Jason is a former investment banker and start-up accelerator alumni. Alex is a full stack tech developer who previously made Australia’s first contribution to the international space station.


About Freighty:

Freighty is a tech company that offers consumers point-of-sale insurance for e-commerce purchases. It was founded in 2018 by experienced entrepreneurs, Jason Byrne and Alex Collins. Freighty’s Shipping Insurance covers any goods purchased online that get lost, damaged or stolen in transit up to the value of $5,000 per order. Claims are processed, approved and paid out in a matter of minutes with no paperwork or contact with retailers or insurers.

Business Daily Media Business Development

iPhone Security Issues: How you can Secure your Device

A common belief is that iPhones are much more secure than Android devices. The truth, however, is that iPhone vulnerabilities exist and are not negligible. Android is known as the malwar...

TheTechFools.com - avatar TheTechFools.com

When A Forex Trader Should Make Use Of Free Forex Signals Telegram

Both experienced and new traders make use of the Free Forex Signals Telegram to optimize their profits. Beginners will find the signals important since it is easy to get overwhelmed by the t...

News Co Media - avatar News Co Media

Fed up dealing with bad bosses and being over-looked for promotions? So was Victoria Wright

Author, Victoria Wright, used all of her good and bad experiences to find other income and career opportunities, and she has revealed all in her debut non-fiction book, ‘I’m Too Old ...

Tess Sanders Lazarus - avatar Tess Sanders Lazarus

Tripadvisor Plus offers

A New Way to Reach Travelers: Tripadvisor Enables Hotels to Participate Directly in Travel Membership Program for First Time   As summer booking demand grows, Tripadvisor Plus offers acco...

TripAdvisor - avatar TripAdvisor

Writers Wanted



News Co Media

Content & Technology Connecting Global Audiences

More Information - Less Opinion