Skuld to integrate Quest Marine to reduce risk

Marine insurance provider Skuld will integrate Concirrus’ behaviour-based data analytics platform Quest Marine through new partnership.

Skuld will become the first P&I Club to integrate Quest Marine and will enable it to identify suspicious loss behaviour and develop risk monitoring insights. It will help to advise members on ways to reduce risk through a behavioural risk scoring system designed in unison by Skuld and Concirrus.

Quest Marine provides proactive risk management services via the analysis of historical and real-time marine data in order to identify new behavioural factors which impact loss events. Its insights give underwriters quick access to a detailed view of risk for a specific account or fleet.

Skuld is a marine insurance provider which is headquartered in Canada. It offers a range of differing products including P&I mutual, charterers liability, FD&D cover, kidnap and ransom, energy, and others.

Skuld chief executive Ståle Hansen said, “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.”

Earlier in the year, Concirrus partnered with Chaucer to drive technological developments in the market. The deal saw Chaucer deploy the Quest Marine solution.

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