Data and safety

Technology driving safety and loss prevention

Alvin Forster, Loss Prevention Executive, North P&I Club, explains how the Club is using shipping insurance data and collaboration to drive safety and loss prevention initiatives

The use of data and technology in the marine insurance industry has taken great forward steps in the last decade. In an industry often portrayed as being more comfortable with tradition rather than disruption, there is a realisation that the vast amount of information available out there has huge value…if properly harnessed.

There are two key areas where we in North’s loss prevention department have really embraced the use of technology by partnering with innovative and forward-thinking companies.

The first concerns how we as an insurer can best assess the risk of the vessels we cover and any potential new business.

Traditionally, we used simple, but nonetheless effective, metrics such as historic claims performance and regulatory compliance performance (such as port state control inspection deficiencies and detentions) to help us evaluate the risk a vessel, a fleet or an operator presents.

These are still great indicators and we continue to rely on them. But harnessing the huge amounts of real-time shipping data available can tell us more.

For example, AIS data, which tracks vessels all around the world, when coupled with casualty and claims data, can identify higher risk operations and trades. Therefore, we have partnered with Concirrus to develop an analytics tool that not only gathers this data but also makes sense of it.

APPROPRIATE WEIGHTING

small number of performance indicators, our analytics tool now has the ability to consider over a hundred metrics and give them the appropriate weighting.

Perhaps the most impressive aspect of this tool is that it learns. Using artificial intelligence (AI), it periodically undergoes a re-learning process to sharpen its accuracy in predicting the future risk profile.

The second area helps us to provide information and intelligence to our members. Creating and delivering loss prevention information is a key aspect of our role, and over the decades, we have accumulated a huge knowledge base.

Our members rightly take advantage of this so they can take suitable precautions in advance of fixing new cargoes, trading in new areas or when encoun tering new problems and challenges.

INTERACTIVE MAP PORTAL FUEL QUALITY

Another new addition regards fuel quality. Since the introduction of the IMO 0.50% sulphur cap on 1 January “Another new addition regards fuel 2020, the proliferation in the use of VLSFO (very-low-sulphur fuel oil) quality. Since the introduction of the products has – as previously warned – brought quality and operational issues. IMO 0.50% sulphur cap on 1 January To help our ship owner and charterer members make more informed deci2020, the proliferation in the use of sions on their fuel purchasing arrangements, we have collaborated with fuel VLSFO (very-low-sulphur fuel oil) quality experts VPS to provide data on the products has – as previously warned bunkers from around the world. VPS has a wealth of historic data – brought quality and operational based on the thousands of bunker samples it receives. By sharing this issues.’’ information, those buying the fuel – and just as importantly those using the fuel – have a better idea of what could be expected. Alvin Forster, MyGlobeView was already proving to North P&I Club be a valuable resource for our members, but the events of the last year have really shown its worth. The COVID-19 pandemic has affected almost every In the past, we provided this information by posting articles on nation in the world. Each country has taken measures to our website and by responding to enquiries from our member- combat the outbreak and inevitably this impacts shipping – ship. which of course has However, we have now partnered with geospatial carried on through it all. intelligence experts Geollect to provide our members with an Shipowners, charterers and ships’ crews need to know interactive map-based information portal called MyGlobeview. the latest news about the measures in force at specific This allows easy access to key information that is specific to a ports, and MyGlobeview has proven to be a useful way of port, country or region which can help a ship owner, operator providing this information. or charterer assess the risks of a voyage – whether it relates to By simply navigating the map and clicking on a country, sanctions, maritime security, port information such as port entry and reporting requirements, operations or cargo-related risks. quarantine arrangements and any restrictions on crew

Recent additions that enhance this tool include a ‘route risk movement and crew changes is at your fingertips. advice’ function. This enables the user to plot the In addition to the uploaded updates received from our vessel’s projected voyage onto the map, and a report is global network of correspondents and contacts, it includes produced that contains the required risk information. intelligence scraped by Geollect from numerous data

The report can then be sent to the ship’s operating team sources. It has become a powerful tool in helping our and master to allow them to take the necessary precautions. members to continue trading during these exceptional Forewarned is forearmed. times.

A ship owner considering fixing a charter to carry a bulk This has proven so successful in keeping our members grain cargo from the US Gulf to China provides a simple up to date with the latest COVID-19 news, that we, with example. Geollect, have been instrumental in developing a similar

A quick check on MyGlobeview will tell of the risks of tool for the International Group (IG). Although the P&I piracy and robbery (identifying hotspots) in the Malacca Straits and clubs may be competitors, there are times when we can the risk of cargo damage claims at outturn. This is supplemented work together for the good of the shipping industry and – with loss prevention advice and links to useful resources that will more importantly – the safety and welfare of the seafarers help mitigate these risks should the shipowner decide to fix. all around the world.