The increasing popularity of sales and delivery channels such as online sales of brick-and-motor stores, along with growing adoption of home delivery will boost the demand for cargo insurance services.
LONDON: The procurement research report on the cargo insurance market is an indispensable part of SpendEdge’s financial services category portfolio and offers a comprehensive explanation of the key factors influencing the supply market, procurement decisions, pricing models dynamics, and procurement best practices. Furthermore, it also offers an in-depth analysis of the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
Cargo insurance service providers are increasingly adopting technological innovations, such as automation and use of AI for claim processing and customer services (use of robotic insurance advisors), in their business operations. They are also using AR for customer and employee education and training. This leads to increase in demand for cargo insurance services across the globe.
“Purchasing managers must collaborate with suppliers that have a high level of technological adoption such as use of data analytics, IoT, robotic insurance advisors, and risk research capabilities,” says Tridib Bora, a financial services industry procurement research specialist at SpendEdge. “These capabilities help suppliers to provide personalized risk coverage and pricing by employing advanced data analytics techniques,” added Tridib.
The lack of a well-defined lead time for underwriting completion and industry standards governing the documentation requirements creates significant confusion and challenges among purchasing managers.
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This procurement report on the cargo insurance market offers insights on:
- Supply markets, growth drivers, trends, and imminent restraints
- Key suppliers and assessment of their capabilities
- Procurement best practices
- Negotiation strategies and cost-saving opportunities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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