The maritime insurance sector is witnessing a pivotal shift, and DUAL Marine Europe is at the forefront of this transformation. By selecting Quotech’s Risque Marine platform for its underwriting teams in Genoa and Rotterdam, DUAL is not just adopting a new technology; it’s making a bold statement about its commitment to innovation and excellence in a fiercely competitive market.
The move comes on the heels of DUAL’s strategic expansion in Europe, following the transition of its Genoa-based team from Swiss Re and the recent establishment of its Rotterdam unit. Andrea Cupido, Executive Chairman of DUAL Marine Europe, encapsulated the company’s vision: “By bringing together a new and newly independent team into one unified venture, we are dedicated to seizing every opportunity in the highly competitive Marine insurance market.” This isn’t just corporate jargon; it reflects a calculated approach to harnessing talent and technology to carve out a niche in marine insurance.
The Risque Marine platform is a game-changer, tailored specifically for the maritime insurance landscape. It’s not merely a tool; it’s a comprehensive underwriting workbench that addresses the unique challenges faced by marine underwriters. Cupido’s enthusiasm for the platform is palpable: “You can tell it was built by an underwriter. It does just what I want it to, plus a few things that I hadn’t thought of, but are actually very useful.” This sentiment underscores the importance of user-centric design in technology solutions, particularly in an industry where precision and efficiency are paramount.
Quotech’s CEO, Guillaume Bonnissent, emphasizes the platform’s capabilities, which are crafted with an underwriter’s workflow in mind. The ability to handle multiple currencies on a single policy and facilitate effortless endorsements at the fleet level showcases the platform’s versatility. Moreover, features like built-in lineslip and consortia capabilities, along with connected access to the Sea-web database, position Risque Marine as a robust solution that meets the evolving needs of the marine insurance market.
As the maritime industry grapples with increasing complexities—ranging from geopolitical tensions to climate change—the demand for agile and responsive underwriting solutions is more pressing than ever. Quotech’s commitment to reducing repetitive tasks and providing real-time data access is not just about enhancing productivity; it’s about empowering underwriters to make informed decisions swiftly. As Bonnissent puts it, “Risque takes the pain points out of underwriting.”
This partnership between DUAL and Quotech could very well set a precedent for future developments in the sector. As technology continues to evolve, the ability to adapt and integrate advanced solutions will be a critical differentiator for marine insurers. The maritime insurance landscape is on the brink of a technological renaissance, and companies that embrace these changes will not only survive but thrive in the face of new challenges.
The implications of DUAL’s strategic choice extend beyond its immediate operations. It sends a clear message to the industry: the future of marine insurance lies in leveraging technology to enhance underwriting practices. As other players in the market take note, we may soon see a ripple effect, prompting a broader shift towards data-driven decision-making and innovative solutions in maritime insurance. The tides are turning, and those who are ready to navigate these waters will undoubtedly find themselves at the helm of the industry’s next chapter.
