REVO Insurance, Accudire, and Assilog complete europe’s first blockchain-backed insured shipment
Italian insurer REVO Insurance , blockchain company Accudire, and insurance broker Assilog have partnered to complete Europe’s first insured shipment using an electronic waybill (e-CMR) secured by blockchain technology.
Luxury eyewear company Ormesani Srl also participated in the transaction.
The first pilot shipment, from the Padua warehouse to Vienna, was completed recently. The transport was managed by road using the electronic waybill e-CMR, and the insurance certificate was issued in real-time thanks to the full digital interoperability between the Accudire and REVO platforms, both utilizing blockchain architecture.
“This type of policy allows for a significant reduction in operating costs for all parties involved and contributes to speeding up the entire shipping process starting from the issuance of the insurance certificate. The blockchain architecture, which is the basis of our systems, guarantees immediacy in risk analysis and allows for greater functionality in the management of any claims. This is a process that, overall, also facilitates the work of intermediaries who will have a certain and unalterable source of data available with which to meet the needs of the insured.” – Gabriele Galanti, Head of Marine at REVO Insurance .
“The pilot shipment represents another important step towards interoperability and digitalization of the supply chain and specifically it is the first case in Italy and Europe of complete real-time logistics and insurance document exchange, using digital platforms, interconnected and based on blockchain technologies, so as to make data, documents and shipment events unalterable. What has been done is a huge opportunity for the logistics and international shipping sector to recover margins and safety in transport.” – Abramo Vincenzi, CEO of Accudire.