Marine Insurance London : 5th June 2018

Marine Insurance London takes place (July 5th).

Just some of the panel discussions on the day include

Where next for the evolution of P&I clubs in changing global markets? Do P&I rates need to fall? Are mutuals offering enough value? Senior representatives from The American Club, the Shipowners Club, Skuld and JLT Speciality won’t shy away from the key questions at the unmissable Marine Insurance London P&I Club Breakfast Briefing.

Mark Cracknell, who is Senior Partner for JLT Specialty’s Marine & Cargo Division, said, “The P&I clubs all enjoy capital strength that most commercial insurers could only dream of. JLT’s analysis reveals the clubs typically employing underwriting models that excessively inflate claims costs. This means a break-even result will usually develop to a surplus. There is no need for P&I clubs to increase their capital strength so it is time to adjust those models in a way that allows P&I rates to fall.”

A Case Study in Assessing Business Needs and Matching with the Correct End Solution. Developers of Insurwave, the world’s first marine insurance blockchain in commercial use, to speak at Marine Insurance London 2018

Key panelists from EY, Guardtime, Microsoft, XL Catlin and MS Amlin to address the UK market at Marine Insurance London on 05 July in ground breaking panel exploring the commercial potential of blockchain in marine insurance.

Insurwave will support more than half a million automated ledger transactions and help manage risk for more than 1,000 commercial vessels in the first year. And the developers have plans to expand platform to other types of business insurance including marine cargo, global logistics, aviation and energy sectors.

Insurwave leverages blockchain and distributed ledger technologies Microsoft Azure infrastructure and ACORD data standards. By connecting participants in a secure, private network with an accurate, immutable audit trail and services to execute processes, the platform establishes a first of its kind digital insurance value chain.

How Will Electronic Placing Change the Landscape Of Marine Insurance? The London Market now, at last, has the technology at its disposal to adapt and modernise. The question is, are you part of the future, or the past? High-profile speakers, including representatives from LIIBA, PPL, Willis Towers Watson, and the IUA will lead this significant Electronic Placement Panel debate.

Kim Darrington form the IUA noted, “Electronic trading promises a more efficient placement process, helping the London Market to deliver better levels of client service. Removing time-consuming manual administration procedures will enable the underwriters to prioritise complex negotiations and concentrate on the product innovation that draws business to London.”

Meanwhile, Jackie Hobbs, Associate Director at the London & International Insurance Brokers’ Association (LIIBA) pointed to the fact that the Marine Insurance London event was the “ideal opportunity” for Marine insurance practitioners to discuss how the move to electronically placing risks will benefit not only the London Market, but ultimately the end client.

Exploring how insurance modernisation will benefit marine professionals. Innovations are streamlining processes in the London marine insurance market, bringing benefits to shipowners, operators and marine professionals. This panel discussion will showcase how the shipping industry stands to benefit from forward-thinking initiatives that are changing how insurance business is processed and placed, as well as from advancements in the way insurers understand the risks of the marine sector.

For more details and how to book please email Grant Attwell on grant@marineinsurancelondon.com