Global Cargo Insurance Market Procurement Research Report – Forecast and Pricing Analysis by SpendEdge

04-Oct-2017 Intellasia | BusinessWire | 9:13 PM Print This Post

LONDON–(BUSINESS WIRE)–#cargo–Global procurement market intelligence advisory firm, SpendEdge,
has announced the release of their ‘Cargo
Insurance Procurement Research Report
.’ The insights and data in
this report provide an exclusive analysis of the supply market, factors
influencing purchasing decisions, pricing models, key supplier
landscape, procurement best practices, and a comprehensive analysis of
the supplier capability matrix for the financial
services industry
. This report breaks down the data and
analysis behind the procurement of cargo insurance and acts as an
all-inclusive guide for making smart purchasing decisions.


“The pro-liberalization and globalization policies and initiatives of
countries across the globe have led to the establishment of free trade
zones and trade corridors,” says SpendEdge procurement research analyst
Tridib Bora. “This has resulted in rapid growth of the logistics
industry, which in turn drives the global cargo insurance market because
logistics is one of its key end-consumer,” added Tridib.

Key Report Features

Procurement Best Practices   Negotiation Strategies
Supply Market Insights   Pricing Models
Cost Saving Opportunities   Key Supplier Analysis
Category Risk Analysis   Supplier Capability Matrix
 

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spend.

Report Insights

  • Privatization of the transportation industry in countries such as
    China, India, and other emerging nations has increased competitiveness
    and efficiency of the industry. This has spurred the growth of the
    transportation industry, which will, in turn, drive the demand for
    cargo insurance market.
  • Purchasing managers must evaluate the risks of their business and
    engage with suppliers that provide comprehensive coverage of all their
    supply chain risks. This helps to protect buyers from all kinds of
    losses. Moreover, they can also seek the advice of insurance service
    providers in proper management mitigation of their risk, as most of
    the cargo insurance providers have better analytics and risk
    management and monitoring systems and capabilities.
  • Suppliers usually do not disclose their risk assessment model which
    leads to difficulty for purchasing managers. The lack of transparency
    and standardization of risk assessment model used by suppliers make it
    difficult for purchasing managers to compare and benchmark the risk
    management models adopted by various suppliers.

This report is available at a discount for a limited time only: View
the report snapshot before purchasing

Cargo Insurance Pricing Trends

The cost-plus markup and risk-based pricing are the two widely adopted
pricing models in the cargo insurance market. The cost-plus pricing
method is advantageous to purchasing managers if there is a fall in the
price of cargo. Moreover, the responsibility for identifying and
engaging with cost-effective subcontractors lies with the insurance
supplier.

The risk-based pricing method helps purchasing managers to avail low
premiums for cargo that have minimal risk exposure. It also helps to
align prices and cost by quoting high premiums for customers with high
risk or costs and low price for low-risk customers, thereby assisting to
satisfy the requirements of both buyers and suppliers.

However, according to industry experts, the preferential rates pricing
will gain a higher adoption level in the forecast period and will give
maximization in cost-savings. As the preferential rates pricing leads to
a contract extension, both suppliers and purchasing managers have low
costs on operations. Moreover, this pricing model helps in maintaining
and developing strategic relationships and reducing the probability of
customers switching to a competitor.

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement
excellence. We are a preferred procurement market intelligence partner
for Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence that helps sourcing and procurement
professionals make informed decisions. These innovative procurement
solutions help enterprises transform structural capabilities, improve
execution efficiency, and fast-track time to savings.

Contacts

SpendEdge
Shilpa Balakrishnan
US: +1 (844) 746-0600
hello@spendedge.com

 


Category: BusinessWire, PRAsia

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