Insurance compliance - portfolio report

Portfolio compliance report

Concirrus’ marine portfolio compliance report provides a rich selection of both static and behavioural data, bolstering your understanding of what has occurred, and the chances of reoccurrence. It seamlessly screens all live vessels within an underwriter’s portfolio and identifies vessels that display signs of non-compliance.

Ensure compliance

Screening is based on:

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Port calls in a sanctioned country

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Vessel movement

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AIS dark activity

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STS activity

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Vessel ownership changes and flag hopping

Reports are provided weekly and screening is automated, removing the need for manual data submission. For consistency, alerts relating to vessel movement are determined by the same criteria seen within the Quest platform. Whilst the report you receive will focus on vessels of concern, an appendix of all vessels screened is provided.

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Portfolio summary report

Compliance is rated via a three-tier traffic light system displayed alongside the vessel’s IMO. Behaviour that relates to non-compliance over the prior seven-day period is displayed depending on severity through an amber or red warning. A portfolio alert summary highlighting bespoke alerts clearly marks which vessel has potential breach activity. The summary is paired with a version displaying screening results that emphasises the relative severity of each alert.

Mitigate false alerts

Alerts are managed through rules which only acknowledge a breach if corresponding criteria are triggered. These rules are applied to abnormal navigation, AIS dark activity and identity change only. If two are identified in conjunction, then an alert will be triggered.

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Individual vessel reports

Vessels with compliance queries receive individual compliance reports that cover a detailed analysis of performance against screening criteria. Criteria is broken down to clarify the specifics around both amber and red alerts for a clear understanding of non-compliant behaviour on a vessel by vessel basis.

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We're here to help

Quest Marine gives Underwriters and Brokers access to similar insights into marine risk in real-time. A report may give you enough information to help shape your digital transformation strategy. However, if you're looking for real-time marine risk information take a look at the Quest Marine platform. 

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