The Indian logistics industry is experiencing a strong growth fuelled by a growing economy. It is expected to continue to grow in the coming years. Driven by changing lifestyles and growth in income, the retail sector is growing at a rapid pace, which in turn is fuelling the logistics industry.
In 2010, the Indian logistics segment enjoyed revenues of about $ 82.10 billion, experiencing a growth of about 9.2% over the previous year. By 2020, the Indian logistics industry is expected to grow at a continuous rate of about 8-9% year on year.
The logistics and transport industry is faced with unique insurance challenges as the delivery time is very tightly scheduled, high costs of replacement of machinery and goods and people in transit. It is very difficult to manage the risk of the business on your own.
Insurance companies today specialize in tailor made insurance solutions to give you peace of mind. With the prevalence of third party logistics where the logistics is totally outsourced to a third party, these new services have also changed the risk profile of the business.
- Private taxi hire and self drive hire
- Railways
- Trucks and container transport companies
- Ports and marine terminals
- Airports and airline
- Tour operators
At VIBS, we analyze all the risks associated with your business and provide you the best possible insurance solution, with best company and policies that suits your need.
Contact Us to know more about the most comprehensive Logistics & Transportation insurance plan for your business.
