Insurance tech company Insurwave has struck a deal with maritime security company Ambrey Analytics to add detailed threat data to its platform.
Users of the speciality insurance technology system will be able to have a “global view of marine perils” at a time of heightened geopolitical risks with Houthi attacks, wider unrest in the Middle East and redrawn shipping operations following Russia’s invasion of Ukraine.
Users will have access to Ambrey’s database of war, crime, drugs, migration and activist events over two decades to help make better-informed risk assessments in the market, Joshua Hutchinson, Ambrey’s managing director of intelligence & risk, said on Thursday.
The information will let the “insurer understand the threat as much as the master on the bridge”, he said.
The agreement follows a series of tie-ups involving technology companies that have added extra services to online platforms that increase scrutiny and monitoring of global fleets.
In October, sanctions screening specialist Pole Star Global bought voyage optimisation company StratumFive.
Cargo data analyst Kpler bought ship-tracking companies MarineTraffic and FleetMon in February last year, before Veson Nautical snapped up UK valuation platform VesselsValue.
The Insurwave platform combines ship tracking with data, including insured values, losses, premiums, coverage terms and other financial information.
It can also help to highlight deceptive activities such as spoofing.
Customers include AP Moller-Maersk, Oldendorff and Teekay, as well as insurance players such as Gard, NorthStandard, Gallagher and Marsh, according to its website.
Stefan Schrijnen, chief commercial officer of London-based Insurwave, said the agreement would combine its understanding of contractual exposure of a vessel with Ambrey’s knowledge of ship operations in different locations.
“In a world faced with increasing uncertainty, we are committed to providing insurance professionals with a real-time view of their data in one place,” he said.
Ambrey commercial director John Thompson said: “Our clients will benefit from some of the most advanced security solutions in the maritime risk market.”
