The global insurance and risk firm, JLT Speciality, has launched a world-wide automotive division.
The solution aims to address auto manufacturing and supplying risk landscape, a rapidly changing aspect of the industry.
In order to release its auto service, JLT partnered with Resilinc UK, supply chain risk and resilience supplier.
The division introduces supply chain analytics to the insurance market, allowing clients to access real-time monitoring of up to 45 types of evets that could hinder supply chains.
The solution will map global supply chains, focusing on suppliers’ Tier1 and Tier 2.
JLT has introduced its service during the advancement and increased interest in autonomous vehicles and vehicle connectivity.
“The auto industry is changing rapidly, driven by technological innovation and increased complexity of supply chain on a global scale,” reported Head of Automotive at JLT Specialty, Matt Grimwade.
“The traditional silo approach from the insurance industry is insufficient to deal with the breadth of product risks arising from connected and autonomous vehicles.”
“JLT tackles this issue by providing a more joined up solution to reduce ambiguity and avoid duplications and gaps in insurance cover.”
“Through robust data and analytics coupled with our specialist expertise, we will provide auto makers and their suppliers with innovative insurance solutions to meet these risk challenges.”