From road trains to earth moving equipment, fleet operators and owner drivers, transport is a vital and essential part of many businesses.
However the transportation and logistics industry has a range of complex and unique risks and exposures. Our dedicated insurance brokers have extensive experience understanding your risks and providing specialised and thorough transportation insurance to all areas of the transport and logistics industry.
According to Strategy&, a division of Pricewaterhouse Coopers, the needs of commercial transportation and logistics customers are constantly changing. Shippers’ supply chains are becoming ever more complex and fragmented and it’s hard to keep up.
Some of PwC’s top tips to stay ahead include:
- Improving the balance between customer needs and operational effectiveness. To give shippers more visibility, try empowering your frontline employees to give them the freedom to make on the ground decisions to deal with challenges on the spot.
- Look out for new competitors to better understand customer needs. Watch your competitors, new and old and take notice of what they offer customers. When you identify product and capability gaps in your business model, consider acquiring companies that fill these holes.
- Create your own local shipping networks. Build your own or use third party networks to bypass conventional operations. By doing this, you can be more flexible and take advantage of more dynamic approaches to pickup and delivery of goods.
By adopting some of these tips into your business model, and minimising your everyday liabilities, you can put your best foot forward to respond to the shifts in shipper demand, instead of failing behind.
What are the risks?
What can we do for you?
We have key expertise in providing insurance for: