Data test

Lloyd’s has announced a trial with Windward to test the business impact of implementing a new smart data analytics platform for managing an insured vessel fleet. Underwriters and insureds can use live information to be alerted when vessels navigate close to or within areas of high risk, to inform underwriting decisions, improve vessel risk profiling and more timely assist with claims assessment. Lloyd’s head of data innovation, Craig Civil, said: “We have had a lot of market interest in this new approach to analysing vessel navigational behaviour. There is a vast amount of real time data being processed but the key is to unlock the business value for the market and that is what we are evaluating right now.”