Marsh, insurance broker and risk advisor, and Amazon announced an innovative collaboration to support a new online network for small businesses. Amazon Insurance Accelerator will help small business sellers receive affordable product liability coverage.

The Amazon Insurance Accelerator, will allow Amazon sellers looking to buy insurance with instant quotes at competitive rates, directly within Amazon Seller Central giving business owners easy access to purchase affordable product liability coverage. The new accelerator uses embedded insurance to enable a simpler process for sellers.

Anita Sathe, global Bluestream and U.S. affinity leader at Marsh said: “Product liability insurance allows Amazon sellers to focus on scaling their businesses, knowing they are protected should one of their products accidentally cause bodily harm or property damage. However, finding the right insurance policy at the right price — especially for new business startups — can be a daunting task.”

A group of the top insurance companies for small business and secured digital insurance distribution providers were selected by Marsh to help create the Amazon Insurance Accelerator. Some of the chosen insurers participating include: Chubb, Harborway Insurance underwritten by Spinnaker Insurance Company, NEXT Insurance, Hiscox, Liberty Mutual Insurance, Markel, and Travelers. The policies are made available by Bold Penguin, commercial insurance exchange, and Simply Business.

With embedded insurance becoming popular for businesses, larger companies are required to carry insurance, but aren’t given an effective way to do it. According to Sathe, “Amazon is accelerating the time by offering solutions, at a better deal than brokers.”

Amazon will require third-party sellers to secure product liability coverage after reaching $10,000 in sales in one month on Amazon.

“We’ve seen rapid growth in the e-commerce industry over the last several years, and we’re looking forward to extending our digital proposition to Amazon’s third-party sellers,” said David Summers, Group CEO of Simply Business, an online business insurance brokerage.

Guy Goldstein, CEO of NEXT shared his excitement with being a part of the Accelerator: “NEXT’s digital insurance products are easily embedded into the software systems that small businesses regularly use to run their companies. Today, through Amazon Insurance Accelerator, sellers can seamlessly purchase NEXT’s affordable and customized insurance coverage for a simple, frictionless experience. We are excited to partner with Amazon to support small businesses in their quest to thrive.”

Through the Amazon Insurance Accelerator, third-party sellers on Amazon can obtain quotes and purchase a policy that meets their needs and Amazon’s requirements. Sellers will be referred to the online application of participating insurers directly from their account. In 10 minutes or less, sellers can get a customized quote and bind a policy.

“Amazon Insurance Accelerator makes it easy for sellers to obtain competitive quotes from reputable insurers that will stand behind their business and give them peace of mind. It is very important for large companies to take proactive roles in better solutions for the needs of the client.” Sathe said.