Spott launches Pay-As-You-Sell insurance offering

Israeli insurance startup Spott announced the launch of its Pay-As-You-Sell liability insurance, allowing ecommerce sellers to pay insurance premiums based on how much they sell while never exceeding the original premium amount.

Founded in 2022, Spott raised around $8 million. It works with several insurance companies including The Hartford, Next Insurance, Coterie Insurance, Bold Penguin, and Simply Business.

The Pay-As-You-Sell offering uses Spott’s technology that collects and analyzes business data, a feature that appears to only be available to Amazon sellers who choose to connect their stores to Spott.

“At Spott, we challenge ourselves to find technological solutions that allow us to push past existing models and create better ways to address the unique needs of digital businesses. The eCommerce risk landscape is constantly changing, and insurance solutions must adapt accordingly. We are thrilled to unveil our new Pay-As-You-Sell offering, making insurance more affordable and accessible to online sellers. We understand ecommerce sellers are exposed to potentially frequent and crippling risks and we want to empower them, no matter their size, to build powerful businesses.” – Guy Salame, co-founder and CEO of Spott.

Bottom Line: See Assureful .