Otonomi Announces Strategic Partnership with Greenlight Innovation Syndicate 3456 to act as a platform provider for an Innovative Parametric Cargo Insurance Program.
Otonomi is thrilled to announce the strategic partnership with Greenlight Innovation Syndicate 3456 to act as a platform provider for a Parametric Cargo Insurance Program. Otonomi powers the operating platform of the Parametric Cargo Insurance Program to help mitigate the $10 billion gap left by global supply chain delays across industries.
According to Yann Barbarroux, CEO of Otonomi: “The US economy is showing signs of disinflation, but the effects of the global reset have continued to be felt across the supply chain. At Otonomi, we are firming up our footprints in unchartered territories when it comes to providing a complete overhaul of the autonomous provision of insurance, in addressing the problems of an industry screaming for innovation. It’s an amazing opportunity for the logistics customers as they are leveraging aggressive tech and predictive analytics to recoup vital capital and protect their liability risks.”
The partnership of traditional cargo delay insurance and an advanced platform technology unleashes unprecedented product innovations such as scalable event trigger mechanisms via oracles, programmatic policies and claims operations using smart contracts, and state-of-the-art algorithmic underwriting modeling that unlocks dynamic quoting and advanced risk Management.
“We’re excited about the launch of Otonomi’s blockchain-powered parametric product for air cargo shipments. This innovative new product will provide cargo shippers with a flexible insurance solution to protect their business from the impact of unexpected flight delays.” – Kevin Horwitz, RLI Vice President, Innovation Management & Policy