REVO Insurance, ACCUDIRE and Assilog launch the first e-CMR insured shipment

Verona, 16 September 2024 – The partnership signed between REVO Insurance, the first Italian operator focused on parametric policies and specialty lines for SMEs and professionals, ACCUDIRE, an innovative Industry 5.0 start-up that revolutionises the export process using a digital model based on blockchain, and Assilog, a division of Edge Srl specialising in insurance for the logistics and transported goods industry (Marine Cargo) as a result of collaboration between a leading worldwide luxury eyewear company and Ormesani Srl, a company with over 40 years’ experience in worldwide shipping and logistics, has made possible the first shipment insured with an e-CMR electronic waybill that benefits from the security and uniqueness of blockchain technology.

This is the first operation concluded in Italy and Europe with this standard, which is based on the digitisation of the CMR and the process of purchasing insurance for transported goods, using the blockchain technology applied during the policy issue phase.

The use of the e-CMR, provided for by the European Mobility Package with particular reference to Regulation (EU) 2020/1056 and Italian Law No. 37/2024, will revolutionise the transport sector from 26 September 2024, the date on which the Additional Protocol to the Convention on the Contract for the International Carriage of Goods by Road concerning the Electronic Waybill enters into final force in Italy.

An initial pilot shipment, from the Padua depot to Vienna, was completed in recent weeks. The road transport was handled using the e-CMR electronic waybill. An insurance certificate was issued in real time thanks to complete digital interoperability between the ACCUDIRE and REVO platforms, both of which are based on blockchain architecture. This has led to an absolute reduction in the overall timescale compared to traditional management. This milestone marks the start of a new chapter in Cargo insurance and was made possible by Assilog’s long-term commitment to developing, together with the partners identified, a solution capable of innovating a traditional market such as that of cargo insurance.

“This type of policy significantly reduces operating costs for all parties involved and helps to speed up the entire shipping process as of the issue of the insurance certificate. The blockchain architecture, which underpins our systems, ensures immediacy in risk analysis and enables greater functionality in the management of any claims. It’s a process that, as a whole, also facilitates the work of intermediaries, who’ll have a reliable and unalterable source of data in order to meet the needs of policyholders” - comments Gabriele Galanti, Head of Marine at REVO Insurance.

“The June 2024 pilot shipment was another important step towards the interoperability and digitisation of the supply chain. It’s the first case in Italy and Europe of complete logistical and insurance document exchange in real time, using digital platforms interconnected with each other and based on blockchain technologies, thereby making the data, documents and events of the shipment unalterable’ - says Abramo Vincenzi, CEO of Accudire – “What’s been done is a huge opportunity for the logistics and international shipping sector to recover margins and security in transport”.

This further step towards the complete digitisation of information along the supply chain of a shipment also strengthens the guarantee of reliable access to data. The resulting automated checks and analytical processes have become the basic requirements for modern road transport.