DNK introduces encrypted digital tracking for vessels

The Norwegian Shipowners’ Mutual War Risks Insurance Association (DNK) has introduced a digital tracking system which sends encrypted signals about a ship’s position directly to the DNK’s insurance system in almost real time.
The solution has been developed between the DNK and UK-based Clearwater Tracking.
DNK said that it also lay the basis for introducing other digital solutions on Norwegian ships.
About 470 shipping companies are covered by DNK against damage resulting from war, terrorism, piracy and cyber-attacks.
DNK chief executive Svein Ringbakken said that “the insurance business is witnessing rapid technological progress characterized by digitalization and the interconnection of systems. Our ambition in the DNK is to be among the leaders of this development within marine insurance. The digital tracking system being offered to shipowners has been chosen primarily because it automates time-consuming processes on the insurance side.”
He added that DNK member companies could use the information in their own operations and that other sensors could be tied in.
Reporting with the new technology occurs automatically to the Paris insurance system delivered by Norway-based Noria AS.
Ronny Reppe, CEO of Oslo, Norway-based Noria AS, said that “this project proves three of the major technology trends within insurance. It proves that fully automated handling is possible, it proves that sensor data (IoT) is a major part of the insurance future and it proves that factional policies (pay per use) will change the way we think about insurance products”.
In addition, the system could supply data which would specify a ship’s position very precisely in different waters. DNK said that its member companies could utilize such information to optimize their own operations, potentially reducing bunkers consumption, cutting costs and benefiting the environment through lower emissions.
Clearwater CEO William Unwin said that “we have jointly developed a solution which shows how digitalization can help to improve quality and efficiency in the interaction between shipowners and the DNK.”
The necessary equipment is currently being dispatched to the individual ships, and should be installed in all 2 700 vessels by the end of 2018.
Veracity, DNV GL’s digital platform will be used for deployment and access to the system.