Quest Marine: A new way of looking at marine risk

Use of the Quest Marine platform leads to greater visibility of vessel behaviour and mitigation of risk exposure 

Challenge
Commercial marine insurance is highly competitive, and costs are at an all-time high. A large commercial marine insurer wanted to understand how advanced analysis of their portfolio could improve efficiency. 

Solution overview
Quest Marine was deployed to ingest five years of policy, claims and exposure data from the customer. This data was combined with Concirrus’ proprietary datasets. 

Quest Marine provided new insights into the performance of the portfolio. The insurer was able to make changes to the way risk was selected, priced and managed to improve their loss ratio by more than 7%. 

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