From farm to fork

Rethinking food and drink supply chains

Businesses have always relied on suppliers to get their products and services from producers to customers. But with geopolitical and economic shocks threatening global food security, it is arguably more important than ever that businesses are able to ensure the safe and timely transportation of critical and often perishable products.

In our first report in a series of three exploring supply chain risk, produced in collaboration with WTW, we surveyed over 275 food and drink business to understand the sector's risk drivers and the current opportunities to fill protection gaps with potential insurance solutions.

The report has been broken down into three sections, so you can find the content most relevant to you as easily as possible. Part one, the reports executive summary, part two, an overview of the food and drink industry and part three, the insurance innovation opportunities around the sector.

Download part one: the executive summary

In the last six decades – the era of globalisation – supply chains have grown in size, volume and complexity and in tandem their associated risks have also increased. Read our executive summary to get a high-level overview of the report’s findings.

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Download part two: the food and drink industry

Food and drink is one of the largest global industries, with a total revenue of almost $11trn USD in 2021. It is a dynamic and complex sector that underpins global resilience and food security but is coming under increasing challenge by external risk driver like natural perils and man made threats, such as extreme weather and Russia’s invasion of Ukraine.

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Download part three: insurance innovation opportunities

With a legacy perception that supply chain insurance can be difficult to arrange and expensive to purchase, many in the food and drink industry are doubling down on their risk management, to reduce their risks. In part three we address the insurance innovation opportunities that exist in the food and drink industry and give an overview of the current product offering and new data and technology enabling innovation.

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Lloyd’s Futureset and WTW’s ‘Rethinking supply chains series’

Businesses have always relied on supply chains to get their products and services from concept, to manufacturing and finally into their customers hands. But in the last six decades – the era of globalisation – supply chains have grown in size, volume and complexity and in tandem their associated risks have also increased.

Our rethinking supply chain series, developed in collaboration with global broker WTW addresses the changing risk landscape of three core global industries – food and drink, semiconductors and transport and logistics – and provides recommendation as to how the insurance industry could support with their current and future risk transfer needs.

Rethinking supply chains

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