Semiconductors are the chips that enable the digital world. They're in our vehicles, electronic devices, medical technology and even power the clean energy solutions being used to enable a sustainable future, like solar or wind farms. To put their prominence into perspective, one modern electric vehicle alone can contain up to 8,000 semiconductors, comparatively, a car from the 1970’s contained no more than ten.
The second report in our ‘Rethinking supply chains’ series highlights the supply chain challenges currently faced by the semiconductor industry and makes recommendations as to how the insurance industry can more effectively collaborate with semiconductor firms to drive forward product innovation and better support the industry.
Behind this report are the surveys and interviews over 140 semiconductor companies and risk professionals from across the insurance industry. These perspectives have provided real-life, practical insights into the challenges that companies are facing now, and what they expect to face in the future.
We’ve broken the report into three sections, so you can easily find the content most relevant to you. Part one, is our executive summary, part two, is a detailed look into the semiconductor industry and part three, spotlights existing supply chain insurance solutions and shares recommendations to address current and future needs more effectively.