Archive for the ‘IT asset tracking’ Category

The Hartford teams with Intelleflex to reduce insurance claims from spoiled produce

Tuesday, August 9th, 2011

The insurance industry is warming up to RFID technology. Insurers represent a strong market for applications like asset tracking for IT items and document management. But this morning’s announcement from the Hartford Financial Services Group takes the potential benefits of RFID to a higher level.

By teaming up with cold chain solution provider Intelleflex, the insurer hopes to potentially save billions in claims, while also reducing the staggering amounts of paperwork, documentation, and investigatory research that accompany each claim.

You see, one-third of all fresh produce shipped goes bad before reaching the retailer, representing $35 billion worth of losses each year. Some of those losses are actually covered by insurance claims. The Hartford hopes to use Intelleflex’s XC3 Technology™ RFID readers and tags to provide shippers, distributors and retailers with the ability to route product to maximize quality, salability and reduce unnecessary perishable waste. Placed in pallets of produce at harvest, RFID tags continuously monitor the temperature and condition of produce as it travels through the distribution process, calculating the remaining shelf life.

“Identifying cold chain issues quickly and routing perishables based on remaining shelf life is critical to enhancing customer profitability and operational effectiveness,” said Alexander McGinley, marine underwriting officer at The Hartford. “This new technology will help our customers decrease the amount of produce wasted due to temperature variations.”

While the Hartford is focusing on the produce market, think about the possibilities of using RFID when it comes to the claims litigation process. A bank or financial institution that reports theft of a group of laptops, for example, might be able to isolate the last place the equipment was if it was tagged with RFID for asset tracking. The same theory holds true for retailers, who fight a constant battle with shrink during the supply chain process. Item level tagging, which allows complete visibility of an item as it moves through the supply chain, can help to isolate where a product left its intended route, and help to catch the parties involved, and therefore limit the exposure to insurance companies.

“The Hartford is strongly committed to open innovation in helping us get to the future faster,” said Jacqueline LeSage Krause, vice president of innovation and corporate venture capital at The Hartford. “Hartford Ventures allows us to identify and collaborate with leading private companies to develop solutions that address the unique needs of our insurance and wealth management customers.”

IT asset tracking set to explode as more sectors seek RFID solutions

Wednesday, March 17th, 2010

One of the hottest sectors for RFID technology in 2010 looks to be the tagging of IT assets at financial institutions and federal agencies, where close to a million assets could carry RFID tags by year end. Almost half a million IT assets were tagged last year.

So it’s a good bet that the total number of tagged IT assets will exceed one million this year, which represents about 50 percent growth in the sector. Big banks like Wells-Fargo, Bank of America, Chase and Citibank have either already finished data center tagging projects or are in the midst of completing them. One of the largest ongoing projects is the worldwide deployment of RFID at 17 bank data centers around the world, a contract won recently by ODIN technologies, which tagged about 100,000 IT assets in 2009.

Some large banks have dozens of data centers with tens of thousands of items like servers, blades, and laptops being tagged. Banks that decide to tag items like storage tapes could add several hundred thousand more products to the mix.

Go to rfid24-7.com to read the full article.

FloraHolland orders 250K passive tags from Omni-ID

Monday, March 15th, 2010

Omni-ID has won an order for about 250,000 RFID tags from FloraHolland, a horticulture and flower industry auctioneer. The firm will use the tags to tag and track trolleys that transport flowers and plants throughout the supply chain. Omni-ID partner Mieloo & Alexander, business integrators specializing in RFID-enabled process improvement, co-developed the complete UHF RFID solution to meet FloraHolland’s requirements.

As part of a redesign of 270,000 auction trolleys used for logistical processes throughout FloraHolland’s entire supply chain, every auction trolley will be tagged with passive UHF RFID tags over the next two-and-a-half years.

Omni-ID’s Max ABS tags showed near-perfect read rates near water-filled buckets, in a high humidity environment, and with obstructed line-of-sight visibility of the tags.

Tom Pavela, Omni’s CEO, says that his firm is expanding into a number of new markets after solidifying a stronghold in the IT asset tracking sector. “Omni-ID’s ultimate goal is to revolutionize business and demonstrate immediate customer benefits, regardless of market,” says Pavela. “By using Omni-ID RFID tags to provide greater insight into its supply chain and the real-time state of its trolleys, FloraHolland will be able to continue its reputation as a high-quality auction network with the most cost-effective model.”