In this use-case an insurer which is offering business interruption and property policies needs to better
understand the current state of a supply-chain. Focusing for
instance on a port for goods, a holistic view of the location, content and value of all relevant goods
enables the insurer to:
1) Better understand their risks
2) offer current -value-in-port policies
3) faster estimate damages in case of a disaster and therefore optimize the release of reserves and improve customer interactions.
The required data are with the supply-chain participants. These participants are reluctant to share the sensitive data with the insurer as these data may negatively impact their business if competitors got hold of them. Using our platform enables the insurer to give the supply-chain participants data privacy guarantees, thereby reducing the barriers to share data.
After going through the process of remote attestation, the supply-chain participants provide cryptographic keys to our platform which enables the platform to decrypt their separately uploaded datasets. Each dataset describes the location, content and value of the good being transported by the participant. After this step, the insurer can submit queries which are based on a subset of SQL to our platform which computes and returns the aggregated results. Such queries can include the total value of goods in a port over time or distributions of time-in-port over all goods. Allowing only a subset of SQL, together with appropriate filters on the output, protects the raw data of the supply-chain participants.