Marine Insurance - Gain Greater Control Over Business Decisions and Pricing Strategy
Quest Marine is a data aggregation and analytics platform used by (re)insurers and brokers to assess business opportunities and build revenue streams. It applies bespoke machine learning algorithms to vast datasets, exposing behavioural trends that are indicative of risk at account and vessel level. Harnessing the cloud, Quest Marine maintains a scalable approach to the demands of both regional and global organisations.
Identify behavioural trends that correlate to risk for a more accurate understanding of exposure vs the use of demographic factors alone.
- Leverage more than two trillion data points through proprietary machine learning algorithms
- Uncover underlying risk within your existing portfolio and adjust premiums
- Write new business based on a holistic view of vessel activity over time
Expected loss forecast
Generate an expected loss valuation based on real-time account behaviour and understand which factors have the greatest influence.
- Set more accurate premiums based on unique account behaviour
- Understand which factors are positively or negatively affecting the valuation
- Create a universal reference for account assessment and pricing
Real-time risk management
Monitor global risk in real-time and push alerts around customised, behaviours and region-specific thresholds.
- Active Risk Management of insured assets vs global activity
- Custom alerts to any stakeholder based on bespoke thresholds
- Real-time and historical journey information for assets of interest
Global sanctions compliance
Assess exposure, write business and manage claims within a single platform from anywhere at any time.
- A complete understanding of existing sanctions zones and related activity
- Push alerts notify stakeholders to specific breaches
- Customisable zones can be set according to specific corporate intelligence
Ensure coverage is appropriate as soon as circumstances change through access to accurate real-time data and automated workflows.
- Utilise real-time risk management and alerts to trigger pre-arranged policy updates
- Maintain appropriate exposure relative to changing global circumstances
- Ensure a customer-centric approach to risk management
Price based on the market
Generate expected loss forecasts, risk scores, premium valuations and adequacy assessments based on the insights and learnings of the industry.
- A universal method of modelling risk through our market model
- Access to premium forecasting regardless of organisation size
- Leverage behavioural pricing when proprietary data isn't available
Gain a competitive advantage through digitalisation and diversification
- Behavioural insight - Reveal behavioural trends in both existing and new business that correlate to risk for a more accurate view of exposure
- Real-time asset management - Review and respond to vessel behaviour, accumulation and emerging risk in real-time to mitigate loss
- Sanctions compliance - Real-time alerts inform on sanctions zone breaches whilst custom zones allow for areas of interest to be defined and continuously monitored
- Predictive modelling - Calculate an expected loss for an account to ensure more accurate premiums for a healthy portfolio as well as an understanding of what factors positively or negatively impact valuation
- Connected policies - Automate policy updates based on real-time activity to continually optimise your portfolio and ensure the Insured receives the appropriate cover when needed
- New products and services - Identify new segments of the market and diversify your services to add value and create an on-going relationship with clients for repeat business and revenue