Marine insurance management firm Hellenic Hull Management (HMA) has tapped marine insurance intelligence provider Concirrus to boost its underwriting operations.
Under the partnership, HMA will implement Concirrus’s Quest One platform, an AI-powered solution designed to meet the demands of modern marine insurance underwriting. The platform will enable HMA to leverage advanced data analytics and artificial intelligence in its underwriting process.
Features of the platform include submissions management, facilitating the streamlined processing of new business submissions and allowing underwriters to respond more quickly to market opportunities; sanctions screening, providing real-time compliance checks to ensure that international sanctions are adhered to; hull market model, which grants access to a vast pool of marine insurance policy and claims data; and aggregation management, helping insurers assess and control their exposure across various portfolios by managing risk accumulations.
HMA’s move comes as the marine insurance sector navigates challenges such as keeping up with technological advancements, adhering to strict regulatory frameworks, and managing large volumes of data.
Ilias Tsakiris (pictured), HMA chief executive, highlighted the importance of the tie-up, saying: “Partnering with Concirrus is a key step in our digital journey. At Hellenic Hull, we have always been at the forefront of innovation in marine insurance, integrating advanced technology to upscale our underwriting expertise.
“Over the last 30 years, we have built a legacy of leadership, and this collaboration with Concirrus marks another milestone in redefining industry standards. By leveraging the power of Quest One, in conjunction with our unique ERP system, we are not only enhancing our operational capabilities but also spearheading the delivery of exceptional value and service to our clients, partners, and capacity providers.”
Concirrus CEO Andrew Yeoman added: “The vision that Ilias and his team have for creating a modern, technology-first MGA aligns perfectly with our mission at Concirrus. By leveraging Quest One, HMA is positioning itself to set new benchmarks in the marine insurance industry.”
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