Specialty international (re)insurance group Chaucer has announced a partnership with insurtech firm Concirrus.
The partnership will enable Chaucer to benefit from the use of Concirrus’ Quest Marine platform, which analyses historical and real-time data to look at marine risk in a more targeted fashion, said Concirrus.
“Deploying the Concirrus data analytics platform, Quest Marine, will help us to deliver greater intrinsic value to clients as we enhance our existing underwriting expertise with data-driven behavioural risk factors,” said Philip Graham, Head of Marine at Chaucer, adding that “bespoke risk customization is the ultimate goal if we want to maximise client benefits and aim to stay ahead of the competition”.
Concirrus CEO Andrew Yeoman said the company was “delighted that Chaucer will join the Concirrus Power20 – the aim of which is to create a community of like-minded visionaries from the marine insurance market to work in collaboration to achieve long term success. We want to bring together the marine (re)insurance market and make a difference – that is, to help the market return to profitability.”