Disclaimer: All insurance information is provided exclusively by Otonomi Insurance Services, LLC (“Insurance Services”). Insurance Services is currently licensed as an insurance producer in the following states: AR, AZ, CA, CO, DE, FL, GA, IL, IN, KY, MD, MA, MI, MN, MS, NH, NJ, NY, OH, PA, TN, TX, WA, and WI. This disclaimer will be updated upon receipt of additional state licenses. All insurance provided outside of the United States of America are permissible in the following jurisdictions with certain restrictions: Cambodia, Chile, Mexico, Peru, Hong Kong, India, Singapore, and Turkey. Customers from outside those states and jurisdictions should inquire with Otonomi as to the names of any licensed brokers or producers that can provide insurance-related information for its parametric cargo delay insurance program.
Otonomi provides shippers a simple yet powerful way to mitigate financial risks arising from cargo delays. Through our AI-assisted algorithm, we deliver instant delay quotes to time-critical cargo owners, right when they need it the most. We also made the claim process a breeze by using a proprietary parametric mechanism which brings transparency and speed to an industry always in motion.
Trusted by our partners globally
Freight Delay Protection. Easily. Right Away.
Time-critical, NFO, Expedited and Air freight shipments are incredibly complex and challenging. Delays happen, disrupting best-laid plans. Actively manage your business interruption risks from delayed cargo with Otonomi.
Get per-shipment and annualized cargo delay quotes via our digital online platform. Our AI-assisted underwriting engine generates cargo risk pricing in milliseconds.
Lightning Fast Claims
Claims typically pay out within 48 hours: 22x faster than industry standard. No manual intervention required from the client. Parametric claims resolution brings transparency and speed.
Seamless API Integration
Integration has never been easier thanks to our comprehensive API ecosystem. Otonomi seamlessly unlocks cost efficient operations, effortless configuration and swift transactions.
Bridging the gap on cargo delays.
Unforeseen circumstances can happen outside of your control and wreak havoc on cargo schedules. Insurance policies have historically excluded delays, making impossible to get claims paid. Cargo delay insurance bridges that gap, empowering logistics to mitigate supply chain risks, providing peace of mind to shippers.
Severe Weather
In U.S. airspace alone, weather can account for up to half of air cargo delays. Unexpected turbulence also reportedly costs U.S. carriers around $100 million per year.
Airport Shutdown and Freight Terminal Closures
Unforeseen circumstances like airport closures due to security threats, severe climate conditions, or unexpected events can wreak havoc on cargo schedules.
Mother Nature can be unpredictable - catastrophic events can have disastrous impacts on the aviation market. In the U.S. only, estimated aviation losses attributed to NatCat events exceeded $110 million in 2021.
FAA Regulatory And Airline Crew Restrictions
Sudden changes in regulations or crew restrictions unexpectedly impact cargo schedules and cause disruptions. Logistics at the airport can be disrupted and result in financial losses.
Aircraft Equipment Breakdown
Urgent aircraft breakdown repairs are incredibly frequent. Total costs to the industry exceed $68 billion annually which massively add expenses to freight operations bottomline.
Carrier Disruption And Bankruptcy
Since the onset of the global pandemic, nearly 70 airlines and 200 airports have gone belly up. Cargo operations get inevitably disrupted causing financial strains to customers and 3PLs.
Aircraft Fuel Shortages
A sudden fuel shortage can ground planes and interrupt supply chain operations. Fuel costs added a staggering $20 billion to the airlines operating expenses since 2019.
Managing Global Supply Chain Risk Is Upon Us
In recent years, global trade has experienced a major dislocation upon which existential risks have derailed the movement of time-critical freight internationally. We estimate that, each year, nearly $50 billion of financial losses are caused by supply chain disruptions and freight delays. At Otonomi, we make it a priority to provide cutting-edge data-driven risk management solutions adapted to the specific needs of this industry.
$6 trillion
Goods and assets moved by air every year.
62.1%
Cargo flights are delayed annually.
$50 billion
Estimated financial losses due to supply chain disruptions.
Managing cold-chain logistics, transporting high-premium medical devices, and temperature-sensitive lab specimens require advanced risk solutions. Trust Otonomi to safeguard your assets against supply chain interruptions, providing real-time tracking and swift claims resolutions.
Life Sciences
Cold-chain logistics and the movement of pharmaceutical assets can be incredibly tricky. Otonomi helps you mitigate financial risks when shipping vaccines, organ transplants, plasmas and tissues, pharmaceutics, medical devices, and more.
Life Sciences
Pharmaceuticals, Vaccines, Cold-Chain
Perishables
Our service lineup brings growers and exporters of perishables risk solutions to offset losses when shipping: produce, flowers, seafood, meats, and many other temperature-sensitive goods.
Perishables
Produce, Flowers, Meat, Seafood
Aerospace & Aviation
Otonomi offers insurance services to manage shipments in AOG operations, empowering OEMs, MRO firms, Aviation clients, move critical parts, and tooling, with peace of mind.
Aerospace & Aviation
AOG, MRO, Parts Suppliers
Hi-Tech
In recent years, semiconductors, microchips, high-premium electronics have suffered incredible supply chain disruptions. In a world, where hardware shipping volumes have ramped up parabolically, Otonomi gives you a competitive advantage in hedging delay risks effectively.
Hi-Tech
Semiconductors, Electronics, Microchips
Automotive
Line stoppage in automotive manufacturing process can cost millions of dollars. Delays in transporting critical auto-parts and equipment is not an option. Otonomi have your back: we help you safeguard your assets and gain transparency in the process.
Automotive
Automotive Parts, OEM, Manufacturing Lines
Specialized Transportation
Offering freight services for unconventional commodities and goods require adaptive solutions to face the unexpected. With Otonomi, you can provide flexible while robust risk products to your clients for a large variety of sectors: Fine arts, Formula 1, Livestock, Events logistics, and many more.
Specialized Transportation
Livestock, Formula 1, Fine Arts, Trade shows
A product lineup adapted to your needs.
You spoke to us about your challenges in managing supply chain risks. We listened, understood, and developed a solution to address your urgent business needs.
Get per-shipment and annualized cargo delay quotes via our digital online platform. Our AI-assisted underwriting engine generates cargo risk pricing in milliseconds.
0.47
seconds
Lightning Fast Claims
Claims typically pay out within 48 hours: 22x faster than industry standard. No manual intervention required from the client. Parametric claims resolution brings transparency and speed.
22x faster
than industry standard
New Service to Your Lineup
Distinguish yourself and offer a new and unique service to your customers. Our product empowers you to generate new businesses and increase clients' retention.
+9.6%
in new business
Seamless API Integration
Integration has never been easier thanks to our comprehensive API ecosystem. Otonomi seamlessly unlocks cost efficient operations, effortless configuration and swift transactions.
249 hours
saved each year
Cargo+
Open Cargo + Delay BI
Reimagine cargo stock-throughput by complementing open policies with Otonomi's business interruption and delay DiC insurance your clients have been needing for decades.
$50 billion
insurance gap unlocked
Digital Quote, Bind & Claims
Your clients get instant cargo delay quotes in seconds via our Al-assisted underwriting. They bind policies in minutes. Get claims paid in hours, transparently without lifting a finger.
22x
than industry standard
New Service to Your Lineup
Distinguish yourself and offer a new and unique service to your customers. Our product empowers you to generate new businesses and increase clients' retention.
+9.6%
in new business
Client-Centric Embedded Solutions
Integration has never been easier thanks to our comprehensive API ecosystem. Otonomi seamlessly unlocks cost efficient operations, effortless configuration and swift transactions.
249 hours
saved each year
Case Studies
Once a month, our team of experts deep-dive in mission-critical issues you face and try to resolve for your customers. We articulate detailed case studies on those pain points and offer solutions and resources to empower you to manage those risks effectively.
October 27, 2023
AOG/MRO: Aircraft Parts
The Aircraft Parts industry totals $68.9 billion globally. The sector demands the delivery of critical aviation parts through expedited and high-touch shipping methods. Because of the time-sensitivity and the high-premium valuations of those parts, shipping delay insurance is a must-have in the space. The US export aircraft parts into 71 of the largest economies, in a market depicting sustained growth (5.6%).
Based on country reported data, 2021 global vaccine market supplied approximately 16 billion vaccine doses (up from 5.8 billion in 2019), with a value of $141 billion (up from $38 billion in 2019). Air cargo carries the majority of pharmaceutical and life science products. In fact, they make up 1.9% of all air cargo volume and contribute 2.6% of total airline cargo revenues, equivalent to $2.5 billion.
Flower bouquet exports reached $11 billion globally in 2021, increased by 30.2% since 2017. Europe exported the most flower bouquets by value with the Netherlands making up for 51.8% of the export market, followed by Colombia (15.4%) and Ecuador (8.4%). Because of the incredibly high-touch and time-sensitivity nature of the transport of bouquets, shipping delay insurance is a must-have in the space.
In the fast-paced world of logistics, getting shipments delivered on time is the name of the game. As a logistics firm, you pride yourself on your efficiency, expertise, and commitment to customer satisfaction. But let's face it, there are factors beyond your control that can disrupt even the most well-planned operations. That's where air cargo delay insurance comes into play.
