Torod and the Cooperative Insurance sign a joint cooperation agreement to insure postal parcels for the Online store

Torod announced the signing of a joint cooperation agreement with the Tawuniya Insurance Company to provide postal parcel insurance services for online stores. This facilitates obtaining compensation in the event of damage or loss of the parcel. The agreement contributes to increasing the number of shipments of precious commodities and raises the level of insurance culture in the postal services sector. 

This also ensures appropriate insurance coverages that meet the needs of the postal sector, reflecting the objectives of the Kingdom’s Vision 2030, which aims to make the Kingdom a leading global logistics platform.

The increasing growth in the e-commerce movement recently in the Kingdom, which in turn increased the shipment of postal parcels locally and internationally. The agreement builds upon the continuous efforts to support e-commerce in the Kingdom and contribute to the risk management tools associated with it. 

The agreement provides insurance service to electronic stores through the Torod Platform after linking it to the (TOROD API) feature. This service can be activated in record time without linking, programming, and building orders related to shipping and delivery. Torod API provides flexible technology, including:

• Provide a simple API, and with a one-time connection, the platforms will connect with all shipping service providers in the region
• Standardize tracking terminology and provide a platform-specific tracking page supported by API technology
• Automate the process of selecting and assigning shipments by product type, freight company performance, coverage area, and added services
• Obtaining a payment matching system upon receipt speeds up the collection process to reach collection in less than two days.
• Access to shipping and delivery companies that serve express and refrigerated freight
• Get detailed reports regarding shipping, returns, payments, and customers

It is worth noting that the Cooperative Insurance Company was established in 1986 AD as the first national company licensed in the Kingdom of Saudi Arabia to practice various types of insurance per the cooperative principle permitted by Sharia. The success of Tawuniya in the field of insurance extended to 35 years. During this time, it was able to enhance its insurance competitive advantages and the quality of its services to become the first choice for all sectors of insurance customers.