North P&I Club has chosen Concirrus as a digital partner and plans to use Concirrus’ world-leading digital platform Quest Marine P&I with its data suite and predictive modelling capabilities to contribute to North’s loss prevention and risk assessment capabilities.
Colin Gillespie, Director – Loss Prevention at North commented, “The activities of the Club’s Loss Prevention department contribute significantly to the understanding of our Members’ operations, and these will be augmented by leveraging the latest machine learning techniques and behaviour-based data analytics which we can access through Quest Marine P&I. This in turn has the potential to bring longer term benefits to underwriting and risk selection and we believe that the platform will become an important part of our loss prevention tool kit.”
Quest Marine P&I brings together billions of rows of dynamic marine and customer data into a single web application that is customisable and user friendly. The predictive risk modelling capabilities within the Quest Marine P&I suite are completely transparent, highlighting the influential factors contributing to a risk score. This approach allows underwriters, actuaries and loss prevention to more easily understand and explain each risk score, whilst applying their extensive knowledge and experience.
Concirrus Chief Executive, Andrew Yeoman said: “We’re excited to have North join our client portfolio, applying Quest Marine P&I’s new risk modelling tools alongside portfolio optimisation and active risk management to enhance their extensive understanding of the market. North’s recent growth and investment in its digital capabilities is testament to the benefits they can pass on to their members, ensuring they move forward in their customer-centric strategy. They chose Quest after an extensive comparative evaluation of other solutions, so we’re especially pleased to be working with them.”