Parsyl, a provider of insurance for essential supply chains, has settled a marine cargo insurance claim in 7 hours and 40 minutes, in what it says is a new industry record.
The spoilage claim was paid to Niceland Seafood through Parsyl’s ColdCover Parametric product, which uses smart sensors and pre-configured spoilage triggers to automatically detect and notify customers of a loss.
The payment was made after Parsyl sensors detected temperature conditions resulting in problematic Shelf Life Lost during an air shipment of fresh cod.
“Paying a same-day cargo claim shows the immense power of data and the value of insurance – helping customers bounce back from a loss quickly and without hassle,” said Victoria Zak, Director of Insurance at Parsyl.
“It is a pleasure to work with Niceland and give them the coverage they need for their shipments and the data they need to prevent issues from happening in the first place.”
Patrick Dunaway, Director of Sales and Sustainability at Niceland Seafood, also commented: “Parsyl gives us the data we need to stand behind the quality of our fish, and peace of mind knowing we’ll be paid fast if something goes wrong.”
“We were amazed when we recently received claim payment on the same day an issue occurred. As a small business working hard for our customers, getting that cash fast let’s us focus on moving our business forward.”
