London-based insurtech Concirrus has launched a new artificial intelligence-powered cargo data analytics solution in partnership with brokers Marsh JLT Specialty and Willis Re Specialty. The company claims it has the potential to "revolutionise" the way cargo insurance is priced, selected and managed in the industry. The new solution, called Quest Marine Cargo, will be available from first quarter 2020, and will fully integrate with Concirrus' existing suite of hull and P&I capabilities. It will provide full analytics on the entire cargo journey - from factory gates to customer warehouse using advanced AI combined with the latest cargo monitoring. Concirrus said the launch is a part of its wider innovation strategy which is centred around developing solutions that deliver greater efficiencies to the 300-year old re/insurance industry.
Singapore – Unable to fill planes with passengers as the coronavirus destroys travel demand, airlines are instead using their fleets to transport more cargo, including medicines, smartphones and Korean strawberries. The likes of Cathay Pacific Airways Ltd., Korean Air Lines Co. and American Airlines Group Inc. are hauling a greater amount of goods in the bellies of their planes to keep up with demand. Cargo rates have risen over 10 percent in recent weeks as some companies are prepared to pay more to ship goods after drastic cuts in passenger flights left them with less capacity to haul cargo. Airlines typically don't operate in this fashion. Yet they are desperate to use whatever capacity they can for cargo as earnings from passenger operations have almost vanished with traffic down 90 percent.
Big data analyst, Concirrus has announced the development of its Quest Marine Cargo data analytics solution which is set to revolutionise the way that cargo insurance is priced, selected and managed. Concirrus' CEO, Andrew Yeoman explained "The cargo market has been characterised by declining profitability, overcapacity, inefficient processes and a paucity of data. In our effort to help alleviate these challenges, we wanted to develop a new approach that would combine clients' own exposure and major claims data with rich external partner data and in turn, optimise the underwriters understanding of risk performance and price identification." The solution which will be available from Q1 2020, will fully integrate with Concirrus' existing suite of hull and P&I capabilities, customers can now manage their marine portfolio under one dynamic platform that has been built to deliver value for the entire marine insurance ecosystem. Quest Marine Cargo will provide full analytics on the entire cargo'journey' - from factory gates to customer warehouse using advanced AI combined with the very latest cargo monitoring.
They were some of the first man-made machines to carry people into the sky and became the ultimate way to travel until a series of disasters brought the golden age of airships to an end. Now aircraft manufacturer Lockheed Martin is hoping to revitalise the use of blimps to deliver heavy cargo and passengers to remote locations around the world - and it will even come with a drone of its own. The firm has developed a'spider drone' to scour the ship's surface and look for tears. Lockheed Martin's LMH-1 Hybrid airship will carry 20 tons of cargo, but can be scaled up to roughly the size of a football field with 500 tons of capacity - and will have its own'spider drone' to scour its envelope looking for, and patching up, small tears. The LMH-1, filled mostly with helium, will carry 20 tons of cargo, but can scaled to roughly the size of a football field with 500 tons of capacity.
SITAONAIR's trademark'open platforms' approach is turning the aircraft Internet of Things (IoT) concept into a reality, in a key development for the air transport industry. By applying its open platforms approach to delivering bespoke IoT capabilities onboard, SITAONAIR will securely integrate diverse aircraft avionics – encompassing sensors, connectivity, hardware, applications and more – heightening the potential of the connected aircraft. For this aircraft IoT project, SITAONAIR is joining forces with two pioneering cargo carriers AirBridgeCargo Airlines (ABC) and CargoLogicAir (CLA) at the 2018 Farnborough Air Show in July. They will demonstrate how SITAONAIR's IoT platform enables two strategic partners, ABC and CLA, to monitor, in real-time, the journey of sensitive pharmaceutical cargo inflight. SITAONAIR's specific IoT solution for AirBridgeCargo and CargoLogicAir works by collecting IoT data provided by OnAsset Intelligence, its demo partner and cargo-monitoring specialist, during the course of a flight.