London, September 11th 2024 – Concirrus, the leading provider of AI-powered marine insurance intelligence, today announced that they have joined forces with Hellenic Hull Management (HMA), to enhance and optimise HMA’s underwriting operations. This collaboration will harness the power of Concirrus’s cutting-edge technology alongside traditional underwriting expertise, enabling HMA to maintain excellence in an increasingly complex and competitive market.
The marine insurance industry faces challenges in modernising operations, meeting strict regulations, and managing increasing data. Traditional underwriting methods struggle to keep pace with technological advancements and the complexities of global trade, leading to inefficiencies and missed growth opportunities.
Hellenic Hull’s partnership with Concirrus represents a decisive move towards digital transformation. By implementing Concirrus’s Quest One platform, HMA will utilise advanced data analytics and artificial intelligence to enhance its underwriting process.
Quest One is designed to address the full spectrum of modern marine underwriting needs, all in one platform, offering capabilities such as:
- Submissions Management: Streamlining the intake and assessment of new business, allowing underwriters to efficiently process submissions and respond swiftly to market opportunities.
- Sanctions Screening: Ensuring compliance with international sanctions by integrating real-time screening tools that mitigate the risk of non-compliance.
- Hull Market Model: Understand a market view of risk by accessing the largest commercially available pool of marine policy & claims data.
- Aggregation Management: Helping insurers manage exposure by providing tools to assess and control accumulations of risk across portfolios.
The integration of Quest One will enable HMA to process and analyse vast amounts of data, thus supporting the company’s strategic planning, and assisting to identify emerging trends and adjust its business strategies proactively.
Andrew Yeoman, Chief Executive Officer at Concirrus, commented on the partnership, saying, “We are thrilled to welcome HMA as a customer. 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. We are honoured to support their journey and contribute to their growth and innovation.”
Ilias Tsakiris, CEO of Hellenic Hull Management, expressed his enthusiasm for the partnership, stating, “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, capacity providers.”
About Hellenic Hull
Hellenic Hull Management (HMA) is a pioneering marine insurance management company, incorporated in Cyprus on February 1, 1994, as a private limited liability company under Cyprus Companies Law. For the past three decades, HMA has been at the forefront of the marine insurance industry, leveraging extensive market knowledge and technical expertise, supported by a global network of brokers. Since 2016, we have partnered with American P&I Club, member of the International Group, and since July 2024 with SiriusPoint, a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Our unique brand differentiation marketing strategy emphasizes the credibility, stability, and reputation of our capital and capacity providers. For more information please visit: https://hma.com.cy/.
About Concirrus
Concirrus is a leading provider of innovative technology solutions for the specialty insurance industry. Our mission is to empower insurers with data-driven insights and cutting-edge technology to transform their business operations and drive growth. With a focus on harnessing the power of data analytics and artificial intelligence, Concirrus is reshaping the future of insurance. https://concirrus.ai/
