One third of shipped produce is wasted each year, representing $35 billion in annual losses, according to the Intelleflex Corporation. That’s why this provider of RFID-based visibility solutions for the food and grocery industry is entering a strategic alliance with The Hartford Financial Services Group Inc. These companies have agreed to explore insurance-related opportunities to reduce the amount of produce lost and maintain its overall quality during the distribution process from the grower to the retailer.
The alliance focuses on the application of the Intelleflex XC3 Technology RFID readers and tags. Placed in pallets of produce at harvest, the tags continuously monitor the temperature and condition of produce as it travels through the distribution process, calculating the remaining shelf life.
The data captured by the Intelleflex temperature monitoring devices will also enable The Hartford to better serve the marine insurance market, which includes ground, air and sea transportation. Over time, The Hartford will be able to use information gleaned to gain a deeper understanding of the cold supply chain, which may result in an opportunity to tailor offerings or underwrite policies based on data trends.