Concirrus and Survey Association collaborate to provide greater visibility of risk for Marine Insurers
By Harriet Muir - June 19, 2018
InsurtechConcirrusand marine surveying company, Survey Association, are working together to provide Marine Insurers a clear view of the health of their fleets.
Established in 1914, Survey Association work on behalf of ship financiers, operators and marine insurers, providing Marine Risk Management advice, onsite ship inspection, and damage surveys.
Concirrus’ software,Quest Marine, accesses and interprets large sets of fleet, industry and environmental data and applies machine learning to reveal the behaviour that correlates to claims.
“As one of the most trusted and longstanding Marine Surveyors in the industry, Survey Association has been providing expert technical and risk management advice and service to the marine sector for many years,” explains Graham Libaert who leads Concirrus’ Data Acquisition Strategy.
“We can see that, by combining our vast Quest Marine data sets and machine learning techniques with the Survey Association’s extensive domain expertise, we will be able to unearth brand new risk insights for insurance underwriters and brokers".
“We’re thrilled to be working with the Survey Association team,” says Graham.
Kurt Rye Damkjær, COO of Survey Association says that the collaboration will drive new value for risk management, insurance and surveying and paves the way for integrated product and service opportunities across the value chain.
“Concirrus are at the cutting edge of technology and we’re looking forward to adding to their offering, as well as learning from their technology,” says Kurt.
Concirrus is the creator of Quest, an artificially intelligent marine insurance software platform used and trusted by insurers within the London and global markets. With machine learning analytics and vast marine industry datasets, Quest enables marine insurers to actively manage their risks in real time and insights that are otherwise impossible to achieve. As a result, marine insurers are able to offer improved products and risk pricing that reflect the needs of their customers. Concirrus was founded in 2012 and is based in London.