Parsyl provides data-driven cargo insurance tailored for complex supply chains, utilizing multiple data sources to assess and price risks effectively. By offering coverage of up to $55 million, the company helps shippers mitigate losses and enhance the resilience of their operations while promoting sustainable practices.
Funding
$65.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TLFounders
Product
Problem
Traditional cargo insurance often lacks the granularity and real-time insights needed to effectively manage risks in complex, global supply chains. This can lead to inaccurate risk assessments, higher premiums, and inadequate coverage for shippers dealing with perishable goods, pharmaceuticals, and other sensitive products. The absence of data-driven insights hinders efforts to optimize supply chain resilience and reduce waste.
Solution
Parsyl provides data-powered cargo insurance that leverages multiple data sources to understand, price, and mitigate risks in complex supply chains. By integrating real-time data from IoT sensors and other sources, Parsyl offers tailored insurance solutions that adapt to the specific needs of each shipment. This approach enables more accurate risk assessment, potentially lowering premiums for customers while providing comprehensive coverage. Parsyl's data-driven insights also help shippers identify areas for improvement in their supply chain, leading to reduced waste, improved quality, and more sustainable outcomes.
Target Audience
Parsyl's primary customers are shippers of perishable goods, pharmaceuticals, electronics, and other sensitive products who require comprehensive cargo insurance and data-driven insights to manage risks in their supply chains.
Features
- Data-driven underwriting based on real-time insights from IoT sensors and other data sources
- Customizable insurance policies tailored to the specific needs of each shipment
- Coverage for a wide range of risks, including temperature excursions, spoilage, and damage
- Up to $55 million in capacity
- Support for various cargo types, including food and beverage, life sciences and pharma, and non-perishable goods
- Risk mitigation strategies based on data analysis and supply chain optimization