Real-time Tracking Solutions for Insurance
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The Challenges
Without Figorr, these should sound Familiar
Revenue Loss
The risky nature of cold chain operations often leads insurance companies to shy away from providing coverage for temperature sensitive products. This leads to a missed revenue opportunity for the insurance firm.
Insufficient Data for Underwriting
The goal of an insurance company is to underwrite risks profitably. Faulty or insufficient data for underwriting temperature-sensitive items can expose insurance companies to risky deals and lead to lost revenue.
Claims Fraud
Insurance companies may face fraudulent claims and without empirical data to validate or invalidate the claims, the insurance companies may act in a manner which may lead to lost revenue or an injured reputation.
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Insurance
Our software allows customers to access insurance policies that cover losses of temperature-sensitive products. Simultaneously, it provides insurance partners with crucial data for underwriting and validating claims.
By using our software, customers are protected from losses, while our insurance partners can generate additional revenue from these risks. Our solution helps bridge the gap between customers and insurance companies by providing a secure and efficient platform that ensures smooth communication and seamless processes.
Our software enables customers to access insurance policies that can cover loss of temperature sensitive products. In the same vein, our software provides insurance partners with data that helps underwriting and validation of claims. This way, our customers are insulated against losses that occur while ensuring that our insurance partners earn additional revenue from these risks.
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November 17, 2023
Enhancing Pharmaceutical Supply Chain Visibility With Real-Time Monitoring Solution
A prominent pharmaceutical company with a global reach faced challenges in maintaining the required temperature and humidity levels during the transportation of its pharmaceutical products. With a global supply chain network, the company needed a comprehensive real-time monitoring solution to address temperature variations, reduce product waste, and enhance overall supply chain visibility.
December 4, 2023
Data-Driven Approach Towards The Transformation Of Cold Chain Operations
This case study is centered on how the end-to-end visibility of data has provided sufficient transparency within a cold chain operation. Analysis of data from a number of completed shipments revealed a significant challenge of deviations from the preset temperature thresholds (2°C - 8°C) during the cold chain transit.
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