The cargo and logistics landscape is transforming dramatically, spurred on by digital innovation and new customer demands. This once-static industry now pulses with technological advancements and the push from a global pandemic, which has fast-tracked the fusion of logistics with modern technologies. Marsh’s cargo and logistics team is at the forefront, leveraging cutting-edge tech and expertise in risk management to devise comprehensive insurance programs that offer coverage and exceptional supply chain visibility.As risks evolve, so do insurance strategies. Marsh is at the vanguard, creating solutions specific to the contemporary logistics industry’s challenges. Integrating digital innovations, leveraging data analytics, and blending risk management, Marsh advances risk understanding and refines claims handling. This strategy leads to lowered costs and enhanced recovery for businesses of all sizes, ensuring robust support for the logistics sector in this era of change.
Industry-Tailored Innovations
Marsh’s innovative approach to risk management extends to crafting insurance premiums that reflect the nuanced landscape of business, taking into account factors such as gross freight earnings, company scale, and contractual liability. They make certain clients comprehend intricate insurance concepts, like the maritime ‘general average,’ which allocates shared financial responsibility for sea losses, a key aspect of cargo insurance that protects both shipowners and cargo clients.Simultaneously, Marsh is proactive in addressing environmental sustainability, evident in their updates on maritime “Protection and Indemnity” (P&I) club policies and their response to global marine fuel standards post-COP28. As the shipping industry grapples with its reliance on fossil fuels, Marsh’s strategies demonstrate their commitment to both anticipating future risks and fostering sustainable industry practices, recognizing the increasing accountability the logistics sector holds towards environmental stewardship.
