London: Skuld, a world-leading marine insurance provider, has partnered with leading InsurTech, Concirrus, to deploy its behaviour-based data analytics platform, Quest Marine.
Skuld is the first P&I Club to integrate Quest Marine with its business systems. With the solution in place, Skuld can identify suspicious loss behaviour, develop risk monitoring insights, and advise members on ways to reduce risk based on a behavioural risk scoring system jointly developed by Skuld and Concirrus.
Skuld Chief Executive Ståle Hansen comments: “The future of marine insurance involves digital tools, and Quest Marine will enhance our risk understanding and loss prevention, as well as supporting our focus on strong personal relationships and service for our members and clients. Technology will increasingly play an integral role in improving loss ratios and loss prevention measures. This partnership with Concirrus is an important strand in our development of an end-to-end digital process and will provide us with proactive risk management capabilities and insights across multiple areas of our business from underwriting to sanctions, as well as legal and loss prevention.”
Ståle Hansen, CEO
Quest Marine delivers proactive risk management services through the analysis of historical and real-time marine data to uncover new behavioural factors that impact loss events. The insights give underwriters quick access to a detailed view of risk for a specific account or fleet, to improve renewal efficiency.
Concirrus CEO Andrew Yeoman comments: “Skuld is well respected in the market, the team are at the forefront of the digital age and to have the business choose Quest Marine across Skuld P&I and Skuld Hull is a fantastic endorsement. Skuld joins other leading organisations across the risk transfer market, all of whom have chosen Concirrus to provide a common set of data that supports the insurance community and drives profitability.”
Skuld is a world leading marine insurance provider with a strong financial position and an 'A' rating with Standard & Poor's. We cater to the needs of shipowners, the offshore and energy sector, charterers and traders and the superyacht community.
Skuld was established in Oslo in 1897 as a P&I club for Scandinavian shipowners. Since then, we have grown into a diversified marine insurer and now offer bespoke covers through Skuld P&I and Skuld Hull.
With headquarters in Oslo and a worldwide office network of around 280 highly skilled employees, we provide our members and clients with service and competence they can rely on, 24 hours a day.
Concirrus is the creator of Quest, an insurance software platform developed with, used and trusted by insureds, insurers, reinsurers and brokers around the world. Quest allows existing and new data to be ingested, understood and presented in a way that provides valuable insights to help improve loss ratios.
For further information and images, please contact:
Liz Churchman or Lorraine Emmett
Concirrus press office
Tel: +44 (0) 7966 820 320