The cost of tracking and monitoring goods is high, but the cost of adopting new technology is much cheaper than the annual loss of $15-30 billion due to lost or stolen goods. Now, the Internet of Things is prompting insurance companies to step up their provision of online insurance services, and insurance companies are also handing risk management to policyholders. The introduction of wireless and geographic technology has revolutionized the way assets are monitored.
The insurance industry has always been interested in using new technologies to improve the acquisition of cargo information, such as location and status. A better understanding of this information will help to retrieve stolen goods and thereby protect the goods while reducing premiums.
Tracking devices that typically run on mobile networks are not as accurate and reliable as insurance companies want. The problem lies mainly in the network connection; when the goods are in transit, sometimes they will cross the area with no signal at all. If something happens at this time, the data will not be recorded. In addition, typical data transmission methods—satellite and mobile networks—require large, powerful devices to process information and then transmit it back to the headquarters. The cost of installing monitoring equipment and transmitting all cargo data information throughout the logistics network can sometimes exceed the cost savings, so when the goods are lost, most of them cannot be recovered.
Solving the problem of the cargo theft
USSD is a secure messaging protocol that can be used globally as part of a GSM network. The wide application of this technology makes it an ideal technology for insurance and logistics companies to track and monitor goods.
It requires only simple components and low operating power, which means that tracking devices run much longer than with mobile data technology; SIM can be installed in devices that are not much larger than USB sticks, which makes space The cost is much lower than the replacement product. Since the Internet is not used, expensive microprocessors and components are not required to transfer data, thereby reducing the complexity and cost of manufacturing equipment.
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