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Quest , Marine , Insurance, Data

Quest Marine uncovers insights to improve marine loss ratio by 7%

Read the full case study here.

The challenge

Commercial marine insurance is highly competitive and operating costs are at an all-time high. As a result, a large commercial marine insurer approached Concirrus to understand whether behavioural and situational analysis of their portfolio could help them to operate more efficiently.

The solution

Our team of data scientists and underwriting specialists recommended that the insurer provide five years of claims and exposure data which could then be combined with Quest Marine’s existing data sets and analysed for insights. 

Whereas commercial risk is currently assessed based on a set of industry-wide demographic factors e.g. ship class and age, Quest Marine analyses the behaviour of a vessel, as well as other risk determining factors for example weather, port safety and operator history, to determine the underlying risk of the asset.

Read the full case study 

Click here to find out how new insights generated by Concirrus' Quest Marine software, gave this insurer clear actions they could take to reduce their loss ratio by 7%. 

By: Harriet Muir

Harriet is Marketing Manager at Concirrus and is passionate about helping tech companies tell their story. With experience across multiple industries, Harriet has worked in large and mid size organisations as well as early stage start ups.

15th May, 2018