How the industry views its emerging risks and challenges.
Keeping the world’s goods and passengers moving demands a high degree of resilience — and an ability to navigate a path through complexity and turbulence.
As we move towards the second quarter of the 21st century, those attributes are being severely tested. New disruption risks are clouding the horizon just as the sector is under pressure to accelerate reductions in global emissions and deliver transparency throughout the supply chain.
In our first global transportation and logistics survey, we asked 400 senior industry decision-makers how they are adapting to this fast-moving landscape. What are their main risks and opportunities? How are they managing emerging risks, and how are they preparing their businesses for the future?
Infrastructure is top opportunity
57% ranked infrastructure investments among their biggest opportunities for the next two years as the sector looks to grow and meet pressing challenges such as the energy transition.
Regulation is biggest risk factor
53% said regulation was among the greatest risks to success, reflecting concerns about the increasing burden of red tape on the sector from cyber security to environmental protection.
Trade tensions are a growing concern
68% named trade disputes among their top supply chain risks, while 62% put it among their greatest geopolitical risks,reflecting fears over potential new tariffs and regulatory restrictions.
Technology is key to managing risks
55% said investment in technology was a very important strategy for managing and mitigating risks, including systems that can track transport assets and cargoes and deliver data in real time.
Firms feel the pressure on sustainability
61% said sustainability strategy was their biggest environmental risk, as firms face growing pressure to decarbonize and sustainability credentials become a pre-requisite for many lenders.
Our survey findings reveal executives are most concerned about the proliferation of new regulations and the trade tensions and political instability that could contribute to future supply chain disruption.
Despite this, many are taking a positive approach, making investments in the infrastructure and technologies that can help them decarbonize and make the most of any growth in global trade. Businesses also see investing in technology as the number one strategy to help them mitigate their risks.
To learn more, download your free survey report by completing the short form at the top of this page.
For specialist guidance in discovering smarter ways to managing your risks, reach out to us today.
WTW hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, WTW offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
