This tech-driven solution is an attempt at updating an industry which, until now, has largely relied on more basic information like age, size and vessel type. Concirrus will collaborate with Concirrus insurtech Reinsurer Transatlantic Re to develop data-driven reinsurance programmes for marine insurers. Concirrus ’s Quest Marine insurance software uses internet-of-things technology, and will combine data such as ships' location and condition with third -party information to create highly calculated risk profiles for vessels.
Concirrus will collaborate with Concirrus insurtech Reinsurer Transatlantic Re to develop data-driven reinsurance programmes for marine insurers. Concirrus ’s Quest Marine insurance software uses internet-of-things technology, and will combine data such as ships' location and condition with third -party information to create highly calculated risk profiles for vessels.