Aon plc, a leading global professional services firm providing a broad range of risk, retirement and health solutions, today introduced a new solution, through broad industry collaboration, that will provide supply chain protection for global COVID-19 vaccine shipments.
The solution provides transparent cargo insurance coverage for COVID-19 vaccines by combining sensor data and analytics. The offering enhances All Risk Marine Cargo insurance with timely payment for doses that fall outside of the agreed-upon temperature range while being transported or stored, enabling more effective risk management and claims support. Real-time reporting of any temperature deviation will also provide for the mitigation of losses and help maximize the number of doses that are administered to the public.
Aon will donate 100 percent of all revenues earned from this new solution in 2021 to a charity dedicated to eradicating the global human and economic toll of the pandemic.
The offering is made possible through a collaboration with insurtech firm Parsyl, which will serve as the dedicated data platform for the solution on behalf of the insurers, and specialist underwriter Ascot Group acting as the lead underwriter, binding insurers Chubb European Group SE and AIG, with reinsurance support from Munich Re. Other insurers include AEGIS London, Antares Managing Agency Ltd (a QIC Global company), AXA XL, AXIS Insurance, Beazley, Fidelis, MS Amlin and Talbot.