Many automotive and supplier manufacturers are experts in maintaining their inventory of materials suppliers, but their corresponding resilience can be difficult to analyse and quantify.
There have been incidents where a single supplier represents the majority or whole of the industry and consequently, there are limited alternatives available.
These types of incidents expose the vulnerabilities in the global automotive supply chain, whereby thousands of parts go into each vehicle made.
Increased technological disruption, in combination with greater regulatory scrutiny, is driving the creation of new business models and new competitive forces that are impacting the supply chain. In some cases, original equipment manufacturers (OEMs) are seeking new suppliers outside of the traditional model.
In turn, each component can contain hundreds of other pieces supplied by multiple other companies. An example is the rubberised portion of a windshield wiper, the hard metal parts of that wiper or the electronics used for a wiper’s motion. The absence of any one of those parts can shut down an entire production line. Consequently, insurers have struggled to meet coverage expectations due to a lack of visibility.
HOW WE CAN HELP
We have developed a revolutionary approach which links supply chain analytics to an insurance solution.
YOU WILL BENEFIT FROM:
- Improved terms from the insurance market based on greater visibility and management of risk
- Contingent Business Interruption (CBI) cover available across the entire supply chain, going beyond the traditional Tier 1 named suppliers
- End to end supply chain network mapping
- Prediction of the biggest failure points anywhere in the supply chain
- Support to mitigate the right risks with the right strategy
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