basicinsure is a brand and service offering from its parent company, Otonomi, a New York-based insurance technology firm. The company specializes in parametric insurance solutions for the logistics and supply chain industries. Unlike traditional insurance that requires lengthy damage assessments and claim filings, basicinsure uses predefined data triggers (such as shipment delays or temperature fluctuations) to automate claim payouts instantly. This model is designed to eliminate paperwork, reduce administrative overhead, and provide businesses with quick liquidity when disruptions occur. Otonomi, and by extension basicinsure, is backed by established insurers and Lloyd's of London syndicates.

Founded in

India