Wildberries-Russ launches comprehensive insurance for pickup point risks, aims for 50% network coverage with policies
MOSCOW. Dec 18 (Interfax) - The Wildberries & Russ (RWB LLC) merged company has developed a comprehensive voluntary insurance program for pickup point risks in partnership with the insurance company AlfaStrakhovanie , which combines property, financial and liability risks, the platform said.
Insurance for pickup points can be activated on the service's website. The program has been developed in three versions - from cheaper to more expensive, with three tariff plans. Accordingly, the insurance coverage amount is set in the range from 700,000 rubles to 2.15 million rubles, and the minimum cost of a policy is defined as 860 rubles per one pickup point per month," according to the calculation provided by Wildberries-Russ.
The policy for pickup points is structured so that it "covers not only property damage, but also key business risks," it said. In particular, property protection extends to interior finishes and equipment against fire risks, as well as risks of flooding and natural disasters. The policy covers damage to display elements (doors, glass, signs) due to vandalism or due to damage from falling trees.
An important component of RWB's insurance program is considered to be the inclusion of financial protection in case of damage from theft of goods. The policy is also supplemented with an option for "insurance of civil liability to third parties" for damage caused.
In addition, the insurance guarantees compensation in case of realization of financial risks of lost profits. Payments can be made "for the period of forced downtime of the point of up to 20 days." This option provides a safety cushion for the time spent overcoming the consequences of an insured event.
The insurance will be available for pickup points across the entire country, RWB's press service told Interfax. The Wildberries-Russ pickup point network comprises over 90,000 points in 20,000 locations.
Currently, the company is testing the product and is at the stage of assessing demand. "In the future, up to 50% of partner pickup points could connect to the insurance," it said.
"The launch of a specialized insurance product for order pickup points is an important stage in the development of the logistics and e-commerce market," the press service cited Dmitry Pugashkin, head of insurance services at RWB, as saying. The program "increases the protection of pickup points as a business asset, enhances networks' investment attractiveness, reduces operational risks for franchisees and allows major players to standardize protection for the entire network," he said.
For his part, Kirill Lukyanenko, the deputy director of the Department for Work with Financial Institutions at AlfaStrakhovanie, said when commenting on the content of the insurance program that it "covers key scenarios for risk realization from fire and flooding to liability to third parties and temporary downtime, and helps businesses maintain resilience under everyday operational load."
