Optima Insurance Brokers Pvt. Ltd.

Industry Focus

Logistics

The Indian Logistics industry which is estimated at US$90 billion is highly fragmented and still evolving. For the period 2010-2020, the Indian logistics market is likely to witness consistent growth of around 10-12 percent every year during this period and reach revenues of around USD 190- 200 billion.

Overview

India’s logistic industry is besieged with a host of issues. Despite holding promise, the logistics sector in India remains mired in several complexities which have the potential of holding it back. These include significant inefficiencies in transportation, poor condition of storage infrastructure, complex tax structure, low rate of technology adoption and poor skills of the logistics professionals.

The biggest challenge that faces this sector is that they should quickly imbibe latest technologies and uncork new services to cater to corporates seeking to outsource their logistics needs. In fact, the trend in the industry is towards the third party logistics (3PL) concept as multinational companies in industries such as automotive, IT, and consumer goods have outsourced supply chain activities to third parties. While such business opportunities have been welcomed, they also change the risk profile of these Service Providers.

In addition to traditional risks – failing to deliver products on time and losing shipments – they must worry about mistakes made in a range of new service areas. The future of the Indian Logistics Industry lies not just in value propositions for the customer, but also in the quality of risk mitigation measures undertaken.

Optima Edge:

The transport and logistics industry is faced with unique insurance challenges, due to demanding ‘just-in-time’ schedules, high equipment replacement costs, and environmental and safety risks posed to vehicles, goods and people in transit. It can be tough striking the right balance of insurance protection on your own, particularly in an industry where every business and profession is different. Managing trade and logistics risk requires years of experience and a strong commitment to analytics. We rise to this challenge.We understand that our clients need swift conclusions to issues as they arise and our customer support is focused to deliver a very high level of service in a friendly and efficient, personalised manner.



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Optima’s core group has more than 100 man-years of experience in insurance. Our experience has trained us in reading the fine print of insurance policies, understanding it and applying it for the benefit of our clients.

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