Concirrus reveals new model for marine hull insurance market.

March 11, 2024
1 min read




Concirrus Unveils Updated Marine Hull Market Model

TLDR:

Concirrus has launched an updated hull market model to enhance accuracy and efficacy in the marine insurance industry. Drawing from extensive data, the model empowers insurers with actionable insights for decision-making. The model allows for benchmarking against industry datasets and offers enhancements to the Quest platform.

Key Elements:

  • Concirrus unveils updated hull market model to improve underwriting operations in the marine insurance industry
  • The model uses extensive data to accurately forecast frequency and severity of losses, empowering insurers with actionable insights

Concirrus, a provider of AI-powered marine insurance intelligence, has launched an updated hull market model to enhance the accuracy and efficacy of underwriting operations within the marine insurance industry. The new model, built on extensive data, accurately forecasts both the frequency and severity of losses, providing actionable insights for insurers. The model also allows for benchmarking against industry datasets, offering a broader perspective for underwriters. Concirrus has implemented numerous improvements to its Quest platform, including enhancements in sanctions compliance, Generative AI search, AI-driven news and vessel timeline feeds, and advanced submission technology. These advancements, along with the market model, reinforce Concirrus’s position as a market leader in the marine InsurTech sector.


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