Shipping industry is increasingly using sensor technology to conduct performance monitoring and maintenance operations. This technology can be proven very useful, as the data generated by such devices could provide better solutions to mitigate risk. Sensors can also be combined with other developments, like blockchain.
The use of drones in the shipping industry is about to take-off. They are used more and more by class societies and marine surveyors and they can provide faster and more informed decision-making on board, reducing the impact of any incident. What is most important however, is the fact that drones can help protect lives.
In its annual Safety and Shipping Review, Allianz revealed that 2017 saw the second lowest total of shipping losses over the past decade, with a decline of more than 38%, driven by improved ship design, technology and advances in risk management and safety, as well as recent lower shipping activity.
Businesses’ failure to manage the earth’s natural resources or “natural capital” has consequences that extend beyond environmental effects. A new report by Allianz Global Corporate & Specialty has categorized the transportation sector into the ‘danger zone’ in terms of natural capital risk exposure.
Allianz Global Corporate & Specialty published a new report called “The Rise of Artificial Intelligence: Future Outlook and Emerging Risks”, identifying benefits and risk concerns about AI implementation in society and industry. AI can benefit businesses, increasing their efficiencies, and reducing repetitive tasks.
In its 2018 edition, the ‘Allianz Risk Barometer’ surveyed more than 1,900 risk experts from 80 countries about the perils that worry them most, in order to identify the most important risks for companies for the next 12 months. The video provides insight about the 10 major threats for companies through 2018 and beyond.
With human error behind 75 percent of marine liability losses, there are hopes that autonomous vessels can improve shipping safety. In view of this, Allianz insurance discusses some of the potential implications of a crewless life on the open waves.
According to the report, cyber, autonomous shipping and piracy risks are the current major concerns for the industry as economic pressures challenge budgets. 85 large ships lost worldwide in 2016, down 50% over a decade. Top losses were reported in South China and Southeast Asia and now East Mediterranean region is considered as the top incident hotspot.
A new report conducted by Allianz has found that companies face rising liability losses around environmental, cyber, product defect and recall risks, although improvements in risk management and safety regulation are leading towards a gradual reduction in everyday incidents, such as slips and falls, accidents and workplace injuries in developed markets.
A new study conducted by Allianz has the cyber threat is considered as a major concern globally for businesses. Also, market developments and volatility is an important business peril in 2017 and the top concern in the aviation/defense, financial services, marine and shipping and transportation sectors, as well as across the Africa & Middle East region in general.
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