Transportation IoT: Opportunities and Risks

TRANSPORTATION IoT
New opportunities and risks for technology developers and manufacturers

BY AIR

• Performance
  Internet of Things(IoT) devices can improve day-to-day aircraft operations and maintenance
• Fuel Efficiency
  Analyzing flight data from IoT sensors can calculate flight paths to optimize fuel consumption
• Customer Experience
  IoT sensors can detect levels of passenger fatigue and dehydration

BY RAIL

• Safety
  IoT sensors can detect safety threats in real time and convey them to locomotive engineers
• Predictive Maintenance
  Routes equipped with sensors measure stress and condition of tracks
• Timeliness
  Sensors detect specific issues for swift resolution and timely operations

BY GROUND

• Safety
  Sensors can detect objects and automatically steer around them
• Efficiency
  Sensors on board trucks collect and share data for more effective fleet management
• Improved Performance
  Connected vehicles allow manufacturers to make wireless updates

BY SEA

• Tracking
  Global tracking via GPS, modem and SIM card replaces the need for physical inspections
  
• Communication
  Ship-to-ship communication can help determine efficient routes and avoid collisions
• Logistics
  Sensors help manage transport and logistics at busy ports, where space is limited

TAKE ACTION TO MANAGE THESE RISKS:

1. Property damage.
   If an IoT device has a defect or fails to function as intended, it could lead to property damage.
   
   
2. Bodily injury.
   If a device fails at any time to function as advertised, a device developer could be held liable for any injuries that result.
   
   
3. Cyber risk.
   IoT devices are prime targets of cyber criminals and hackers.
   
   

Discuss relevant insurance coverages with your Travelers representative, including coverage for cyber risks, bodily injury liability, technology errors and omissions, property and workers compensation.

“The IoT expressway of innovation:
With transportation-related applications, the Internet of Things (IoT) presents technology companies with both opportunity and risk.”

DOWNLOAD THE WHITE PAPER TO LEARN MORE 

VISIT: travelers.com/business-insights/industries/transportation/understanding-the-risks-of-transportation-iot

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