AXA XL partners with insurtech Parsyl for marine offering

Re/insurer AXA XL has partnered with Denver, Colorado-based supply chain data platform Parsyl to offer enhanced marine risk prevention services.

The partnership will enable AXA XL to use Parsyl’s sensors and its expertise in large-scale data mining to analyse data such as location, temperature, light, humidity and movement impact on cargo, according to a corporate statement. This will allow AXA XL to offer clients enhanced loss mitigation and risk prevention services, the company claims.

“Superior risk management starts with superior data; the more the better. Being able to track and visualise the conditions of our clients’ sensitive shipments is incredibly valuable when thinking about risk,” said Rob McAdams, chief underwriting officer, global marine at AXA XL.

“The insights gained equip our risk engineers to make practical recommendations to avoid losses or lessen their impact,” McAdams added.

Hélène Stanway, digital leader at AXA XL, said: “With new data platforms like Parsyl, we’re now able to provide a more granular and contextual data set then has ever been possible. By combining IoT capabilities, such as the use of sensors and data visualisation, and our risk engineers’ expertise, we can enhance the services we offer our clients.”

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