Mobile Asset Tracking – Data Based Quality Insurance

19.03. | 09:45 - 10:15 | tech.stage

Logistics – current Situation
Cargo logistics are complex and highly non-transparent
While the goods are shipped there is no transparency on:

  • Status of shipment
  • Estimated time of arrival
  • Location of cargo
  • Quality of shipment

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.

  • Ability to offer new solutions based on the data captured such as parametric quality insurance for perishable and sensitive high value goods
  • Increased transparency about supply chain to improve underwriting excellence
  • New revenue streams through new services like supply chain consulting
  • Possibilities for real-time loss prevention (e.g. by sending alerts)
  • Data also serves as evidence in claims handling process and drives efficiency

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

Speaker:

Veenet Muthraja (Munich Re)