Specialist insurer Beazley has started leveraging Concirrus’ behaviour-based data analytics platform Quest Marine as an additional underwriting tool.
Richard Young, Beazley’s head of hull and war, said the platform enables the company to examine its existing data in new and innovative ways build up a more detailed view of the risks it writes.
Concirrus Chief Executive Officer Andrew Yeoman added, “Beazley is a powerful leader in the marine market and a recognised leader in digitalisation.
“We’ve consistently heard from the market at events such as IUMI, that the future winners will be those companies adopting innovative solutions for pricing and selecting risk.
“For the team at Beazley to select Quest Marine as its preferred platform of choice is a fantastic endorsement of the maturity and impact of our technology. Quest Marine is now established as the market leading platform for specialty underwriting and pricing.
“Beazley will also join our Power20 community – a community of like-minded visionaries who recognise the critical role collaboration plays in achieving long-term success. Having better data isn’t enough to help improve profitability – the entire value chain needs to align with a new view of risk which is driven by a common, data-driven language.”
