Logistics – current Situation
Cargo logistics are complex and highly non-transparent
While the goods are shipped there is no transparency on:
Cargo insurance today is an all risks insurance for physical damage losses with involved claims process and risk of undiscovered losses. The Mobile Asset Tracking Product developed by Munich Re Group combines the traditional cargo insurance with the Internet of Things. Sensors provide data about the cargo and surroundings in real time e.g. location, temperature, humidity.
IoT lifts cargo insurance to the next level by diminishing pain points and adding value for the client and generating new revenue streams.
The client’s benefits are:
è Shipment visualization, quality score and supply chain optimization through performance analysis
è Instant proof of loss with no questions asked settlement
Veenet Muthraja (Munich Re)