How Altana is Powering Trade Disruption Insurance

Altana, best known for its value chain management system, has already earned a place in the spotlight after achieving unicorn status earlier this year. 

Now, the company’s advanced AI technology is at the heart of a new trade disruption insurance (TDI) facility. This facility, a collaboration between McGill and Partners, TMK and Convex, is designed to offer innovative coverage solutions for disruptions affecting trade between specified locations.

With coverage limits reaching US$95m, this initiative is set to redefine how trade disruption risks are understood and insured, providing businesses with vital support in a world where geopolitical tensions and supply chain vulnerabilities continue to grow.

Nicky Payne, Partner of Capital Solutions and Treaty Reinsurance at McGill and Partners, highlights the importance of this launch: “Given the current geopolitical climate, the launch of our groundbreaking trade disruption facility is exceptionally timely, as incidents of this nature are on the rise.”

“From the start, McGill and Partners has been built on digital-first principles. We understand the importance of capitalising on this technology, which allows us to pioneer unique and innovative solutions for our clients. This product is a clear demonstration of those principles.

“Working with TMK and Convex – both recognised leaders in the market for trade disruption risk – was an obvious choice. I am proud that, together, we have brought this facility to the market for our clients.”

AI Enhances Visibility and Service

Altana’s AI platform plays a crucial role in enhancing the experience for both clients and underwriters. 

By boosting the accuracy and efficiency of submissions, the technology makes the process faster and more seamless. It also provides critical insights into the interconnected nature of global supply chains, which allows underwriters to offer higher limits and broader coverage across various sectors and regions.

Ed Parker, Head of Special Risks at TMK, emphasises how the platform strengthens their ability to address client needs.

“TMK has been at the forefront of innovation in this class since we launched the world’s first trade disruption cover more than 30 years ago,” says Ed. 

“Driving and supporting new solutions which can address the challenges our clients are facing is core to our offering and central to TMK’s business philosophy.

“Supply chains globally have become increasingly complex and their fragility has been underscored by a series of geopolitical shocks in recent years. AI offers the potential for us to better understand our clients and track the movement of goods and the aggregation of exposures in real time.

“These new tools can enhance our offering, allow us to broaden our terms due to greater insight into our clients’ businesses and enable us to further extend our support across supply chains.”

Altana’s Journey to the Top

Founded in 2019 by Evan Smith, Peter Swartz and Raphael Tehranian, Altana was born out of a need for better visibility across fragmented supply networks. 

The company has since assembled and organised the most extensive supply chain data resource ever created, offering a unified perspective on global trade networks.

Earlier this year, Altana secured US$200m in a Series C funding round, led by Thomas Tull’s US Innovative Technology Fund (USIT), giving the company a valuation of US$1bn. This remarkable growth underlines Altana’s ability to provide solutions that resonate with businesses navigating an increasingly volatile trade landscape.

Evan, Co-Founder and CEO, underlines the significance of this new facility in addressing pressing supply chain challenges: “Managing supply chain disruptions is a key priority for risk managers.

“This TDI facility represents an important step toward the delivery of AI-powered insurance solutions. We’re excited to join forces with McGill and Partners, TMK and Convex to support businesses in managing through increasing global supply chain dislocations.”

By combining Altana’s technological expertise with the insurance experience of McGill and Partners, TMK and Convex, this facility offers a much-needed safety net for businesses operating in a fragile global trade environment.

“Managing supply chain disruptions is a key priority for risk managers.”

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