ClearMetal, the leading SaaS platform for international freight visibility, dynamic transport planning and customer experience, today announced it has partnered with Munich Re Group, one of the top providers of reinsurance, primary insurance and insurance-related risk solutions, to guarantee international ocean freight shippers complete and timely delivery of data. ClearMetal is the first and only logistics technology company to offer this type of guarantee.
ClearMetal gives shippers quality, timely data on ocean container movements during transit so they can better plan on-time delivery, reduce detention and demurrage (D&D) charges, and provide superior customer service. Through its partnership with Munich Re Group, ClearMetal guarantees that after the first year of engagement, it will offer completeness of data for container shipments at least 90% of the time. ClearMetal also guarantees it will notify customers within 24 hours of vessel arrival at port for 80% or more of its container shipments, though it typically provides its customers completeness of data at a rate higher than 90% and ship arrival notifications within minutes or hours of the event.
ClearMetal’s swift notification time is significant because most shippers receive vessel arrival notifications an average of 36 hours after the actual event. ClearMetal’s guaranteed notification with far less latency means shippers can more efficiently schedule downstream transportation, provide more accurate delivery dates to customers and avoid D&D fees.
“Our partner ClearMetal is a highly innovative and technologically advanced data company for global freight transportation,” said Greg Barats, Senior Executive, Munich Re; and President and CEO, HSB. “ClearMetal delivers on its promise of Continuous Delivery Experience by providing comprehensive arrival data in a timely fashion. By adding the insured guarantee to its offering, we support ClearMetal in revolutionizing the B2B customer experience in that field.”
ClearMetal’s platform continuously collects and cleans data from satellites, shippers, vessels, terminals, ocean carriers and third-party partners. This continuous approach uses machine learning to cross-reference inputs and enrich data, enabling users to make smart decisions based on up-to-date, trustworthy information. With ClearMetal, shippers no longer have to manage shipment status and order updates manually using outdated and incomplete data from multiple websites. The ClearMetal platform saves time and money and enables shippers to deliver better service to their end customers.
“Visibility is crucial to weathering volatility in the supply chain and helping shippers make better decisions,” said Tom Linton, an Executive Advisor at ClearMetal, who most recently served as Chief Supply Chain Officer at Flex and was Chief Procurement Officer at both LG and Freescale. “As global trade continues to be very unpredictable and dynamic, shippers need to prepare and learn how to better manage their supply chain in this environment. ClearMetal gives shippers confidence in their data and helps take time and unknowns out of the supply chain so they can optimize productivity, curb costs and delight customers.”
Both completeness of data and low latency are critical success factors for supply chain digitization and transformation. Visibility is only meaningful if it delivers added value. ClearMetal is the only international freight visibility provider that has achieved “critical mass,” enabling value to be realized.
“We provide organizations with the most accurate and timely data about their shipments and enable them to optimize logistics for competitive advantage. Now we guarantee our promise with the backing of Munich Re, one of the leading and most innovative insurance firms in the world. If anyone questioned who has the best data in the industry, the actuaries at Munich Re just confirmed it’s ClearMetal,” said Thomas Atwood, Lead Data Scientist of ClearMetal. “As a leader driving the digital transformation across the insurance industry, Munich Re ‘gets it.’ ClearMetal is proud to have earned their trust in our platform and the quality of our data and we value their partnership. With this guarantee, we are putting our money where our mouth is.”
ClearMetal is the market leader in international freight visibility, dynamic planning and customer experience. The ClearMetal ‘Continuous Delivery Experience’ (CDX) Platform uses proprietary machine learning to break free from static-visibility paradigms and turn supply chains from a cost center to a competitive advantage. ClearMetal was founded by top software engineers, data scientists and operations researchers from Stanford University, Google and Silicon Valley, and is funded by Eclipse Ventures, Prelude Ventures, Innovation Endeavors, NEA, SAP.io, Prologis Ventures, PSA Unboxed, DCLI and the founders of GT Nexus, Navis and Uber Freight. ClearMetal is based in San Francisco, CA. For more information, visit www.clearmetal.com.
The insurance for ClearMetal Inc. is underwritten by a primary insurance carrier of Munich Re Group, which is an S&P AA- rated international insurance company, eligible to write surplus lines insurance in all US states.