Quest Marine’s platform system uses the most advanced artificial intelligence (AI) to interpret large datasets in real time.
The Strike Club, which offers a range off marine delay covers, is to be integrated into the Standard Club. Both mutual insurers are managed by companies within the Charles Taylor group.
A risk expert says that cargo theft has continued to plague South Africa, resulting in losses and derailed efficiencies, and there is a need to take remedial measures to check the menace.
The reintroduction of US sanctions will undoubtedly affect insurers and the complexity in dealing with these risks has now increased.
Richard Turner says data will play an ever increasing role in marine insurers and the winners will be those who can successfully embrace and integrate new technology and combine that with the art of underwriting
Call for marine insurers to address the current formation of war and strike clauses in an effort to halt the tide of litigation.
IUMI Ocean Hull Committee chair has warned that the industry faces the threat of a prolonged soft market.
Once the acquisition agreement is endorsed by Thomas Miller’s shareholders, signing of the deal is likely to take place in early October.
The project manager of the International Union of Marine Insurance’s (IUMI) large loss database has told Fairplay the project has the potential to create a new dawn for underwriters.
The global insurance industry sees Africa as the next big growth market, but access barriers remain a challenge.