Quest Marine Cargo gives Underwriters and Brokers access to a wealth of intelligence in-line with end-to-end exposure.
Richer insight improves segmentation, prospecting and underwriting within each Cargo segment. Adopting Quest Marine Cargo will:
Quest Marine Cargo aggregates and interprets vast datasets from verified providers to derive account specific behaviours that correlate to risk. This provides a more accurate assessment of exposure as it’s far more representative of specific traits vs static data alone.
Simulate account underwriting decisions such as adjusting deductible levels and removing goods from coverage to measure the projected impact on performance. Results can be incorporated into underwriting decisions to mitigate attritional losses and reinforce strategic goals.
Loadsure is a digital MGA that provides automated insurance policies to the North American Spot freight market. The Cargo market is experiencing time critical pressures, as well as overcapacity, high loss ratios and unknown exposures.
Loadsure address these issues by utilising analytics and algorithms to provide sustainable, scalable and competitive pricing. The digital nature of their business means they can serve customers directly, whilst complying with regulatory needs. It's a simple approach to a complex market.
Identify global routes and key storage locations around the world to easily manage accumulation and ensure exposure is in line with geographical projections.
Remove any siloed approach to risk assessment within internal teams by equalising access to insight, providing a universal and transparent benchmark for decision making. Partner organisations that opt-in to the platform can access all known factors attributed to specific risk, driving consistency in understanding of the everchanging and complex nature of Cargo Insurance.
Receiving data in real-time allows automated insight to be derived instantly. Underwriters can therefore not just make better decisions but do so in a timely manner. The opportunities for automation also become apparent in responding to changing risk. Thresholds can be set that trigger automatic policy changes, such as extra cover, to ensure exposure is continually optimised and that the Insured is continually protected. Such capabilities lead to an ongoing relationship with clients, driving repeat business over short-term, single contract affairs. Such capabilities offer the opportunity to diversify products and services in line with market needs.
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