22 January 2020Insurance

North P&I Club chooses Concirrus’ Quest Marine digital platform

Global marine insurer North P&I Club has chosen Concirrus as a digital partner. Concirrus’ digital platform, Quest Marine P&I, with its data suite and predictive modelling capabilities, will contribute to North’s loss prevention and risk assessment capabilities.

Colin Gillespie, director – loss prevention at North said: “The activities of the Club’s loss prevention department contribute significantly to the understanding of our members’ operations, and these will be augmented by leveraging the latest machine learning techniques and behaviour-based data analytics which we can access through Quest Marine P&I. This in turn has the potential to bring longer-term benefits to underwriting and risk selection and we believe that the platform will become an important part of our loss prevention tool kit.”

The predictive risk modelling capabilities within the Quest Marine P&I suite are completely transparent, highlighting the influential factors contributing to a risk score. This approach allows underwriters, actuaries and loss prevention to more easily understand and explain each risk score, while applying their knowledge and experience.

Concirrus chief executive Andrew Yeoman said: “We’re excited to have North join our client portfolio, applying Quest Marine P&I’s new risk modelling tools alongside portfolio optimisation and active risk management to enhance their extensive understanding of the market. North’s recent growth and investment in its digital capabilities is testament to the benefits they can pass on to their members, ensuring they move forward in their customer-centric strategy. They chose Quest after an extensive comparative evaluation of other solutions, so we’re especially pleased to be working with them.”

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More on this story

14 January 2020   The aim is to promote safe navigation and improve standards across the maritime industry.
11 February 2020   It is a first-to-market proposition for predictive analytics in fleet claims.
17 February 2020   The announcement follows a period of significant growth for the UK insurtech.