DUBLIN--(BUSINESS WIRE)--The "Global Supply Chain Insurance Category - Procurement Market Intelligence Report" report has been added to ResearchAndMarkets.com's offering.
This procurement research report on the supply chain insurance market provides procurement professionals with up-to-date information about market shifts and potential risks, as well as in-depth knowledge of products and services. This report provides a detailed analysis of the supply market, procurement challenges, and procurement best practices which can help in planning and executing category management activities. It also focuses on the cost-saving aspects of procurement and on providing insights that can lead to optimization of category spend.
According to procurement analysts, there is a need for comprehensive insurance to manage complex and global supply chain risks. Today, businesses are not fully equipped to deal with emerging threats. As a result, they end up losing sales revenue due to supply chain disruptions such as natural disasters, complexities in managing multiple suppliers from different regions, and regulatory issues. The increase in such risks has resulted in huge losses for companies.
A comprehensive supply chain insurance policy can help businesses mitigate the risks associated with such possible disruptions. For instance, the maritime industry on which almost 85%-90% of the economy depends is prone to several risks such as cargo threats, cyber-attacks, and port closures. The port of Antwerp was under a major cyber-attack with drug traffickers employing hackers to control the movement and location of containers. This was done for transporting drugs such as cocaine and heroin in legitimate cargo. Therefore, there is a huge demand in the market for insurance products that can help buyers mitigate risks and eliminate uncertainties.
One of the procurement best practices for buyers is to pre-evaluate the coverage options. Insurance service providers offer a wide range of coverage options, and it may be challenging to compare available alternatives. With the help of seasoned professionals, buyers can evaluate options and enhance their understanding of insurance coverage.
For instance, supply chain insurance products such as onshore and offshore insurance, political evacuation insurance, and kidnap insurance are critical to the oil and gas industry. As a result, buyers should evaluate suppliers' service capabilities and claim ratios with respect to the same.
Key Topics Covered:
Part 1: Category At A Glance
Part 2: Scope Of The Report
Part 3: Market Insights
Part 4: Supply Market Insights
Part 5: Pricing Insights
Part 6: Procurement Insights
Part 7: Top Five Suppliers
- American International Group
- Berkshire Hathaway
- Munich RE
For more information about this report visit https://www.researchandmarkets.com/research/d44f85/global_supply?w=4