A new way of looking at marine risk

A Quest Marine case study

Use of the Quest Marine platform leads to greater visibility of vessel behaviour and risk allowing for improved risk mitigation for clients.

marine case study

A new view of risk

Discover how one Insurer used the marine insurance platform to:

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Gain better visibility of vessel behaviour

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Uncover opportunities to grow their business

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Mitigate their marine risk exposure

Download the case study or read on to find out more

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Client situation

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.

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Action taken

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.

The team were able to help the client through the provision of services to:

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Cleanse, ingest and combine large datasets

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Carry out advanced data analytics

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Produce risk reports to showcase insights into risk

What was the impact

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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Next steps

To access real-time risk insights and continue to optimise their portfolio, clients can deploy Quest Marine software within their organisation. Quest Marine’s user-friendliness and cloud infrastructure minimise training and implementation.

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Download the Quest Marine case study

To read more about this case study click the link below and a copy of the full document will be emailed directly to your inbox.

 

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