What is insurance supply chain

Supply chain insurance covers financial losses arising from potential operational risks of your supply chain. It protects the organization against disruptions and business interruption losses throughout the facilitation of the flow of products from production to sales.

What is supply chain in simple words?

A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product. A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user.

What is the insurance value chain?

The value chain, or Porter's value chain, captures the share value activities of the underwriter and the broker as a case in point. The goal is to obtain competitive advantage based on four elements: operational efficiency; product leadership; customer intimacy; and, if possible, system lock-in of the customer.

What is the meaning insurance in commerce?

Insurance is a contract in which an insurer indemnifies another against losses from specific contingencies or perils. It helps to protect the insured person or their family against financial loss. There are many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance.

Who insures the insurance companies?

A reinsurer provides insurance to insurance companies. The risks of an insurance company are spread out by purchasing insurance from reinsurers.