Loss prevention insights via a digital customer portal
P&I Club members get new, real-time risk insights to help minimise losses
Select industry leading data, AI and automation modules to deliver cutting edge customer service
Client situation
A digitally savvy P&I Club was looking to provide new services that differentiate their offering from other clubs in a highly competitive market.
Solution
Building on their digital transformation strategy, the P&I Club were looking for a technology partner to help them realise their vision for their member services
Modules used: Enriched Data Assets, Geospacial Global Risk Mappings, Big Data Storage & Processing, Actuarial Analytics, Active Risk Management, Claims Analytics, API driven integration into Policy Admin System and Claims Management Systems
The P&I Club had already deployed digital transformation projects, combining multiple datasets to reveal actionable insights that help protect their members. Using Concirrus, the P&I Club had cleansed, matched, and augmented global risk datasets. This included AIS, Port State Control, Ships data, Weather, Loss, and exposure data.
Correlating exposure data to claims trends meant the P&I Club could generate new shipping insights for their members. Translating key insights to member portals would provide the differentiation required. This was achieved through APIs, translating real-time analytics directly to members and enabling them to be proactive in managing and mitigating risk.
Value
The P&I club has improved member services by educating ship owners on the likely risks their crews will face worldwide. Shipowners can use the information on risky ports, weather, volatile regions, and vessel utilisation to better prepare their crew for each journey. Specifically, crews can take necessary precautions, and change their behaviour, to keep themselves and their cargos safe.
