How will AI transform marine insurance?

AI is no longer a future concept — it is reshaping industries across the globe and marine insurance is already on that course. From smarter risk assessment and faster claims handling to emerging opportunities and challenges, the impact of AI is accelerating at an unprecedented pace. In this podcast, our expert panel explores how AI is influencing marine insurance today, what innovations are already being adopted by insurers and how the industry could evolve in the years ahead. Join three members of the IUMI Data & Digitalisation Forum for an insightful discussion: Rahul Khanna, Allianz Lutz Weinlich, Jean Verheyen Kenneth Svendsen, Instech Solutions Tune in as they share perspectives on the opportunities, risks and future direction of AI in marine insurance.

Cargo crime has existed in most regions of the world for centuries. Until relatively recently, it has usually taken the form of theft, sometimes with aggression. Today, we are seeing a worrying growth of fraud and deception, encouraged by technology and AI. “Fake Carriers” are emerging to steal cargo non-violently but with great success.   This podcast explores the topic with the expert input of Thorsten Neumann, President & CEO of the Transported Asset Protection Association (TAPA EMEA) and Björn Hartong, Global Head of Risk Engineering Marine, Security & Supply Chain at Zurich Insurance. Björn is also a member of the IUMI Loss Prevention Committee.

Hegemony and violence are two strong words loaded with meaning. It’s not often they are connected with the world of marine insurance. But in his recent book, award winning author Tom Shinya charts the evolution of marine insurance from its origins to the present day and explains how its formative years were entwined in conflict, war and the race for global power. Aside from writing, Tom is well known as a Senior Expert in the Marine Underwriting Department at Tokio Marine & Nichido  Fire Insurance Co Ltd and he is also an IUMI Executive Committee Member. Tom is the guest in our latest podcast where he explains more about the fascinating growth and development of marine insurance. He brings to life some of the lesser known influences on our industry.

Late last year we were delighted to welcome the Latin American Association of Marine Insurance (ALSUM) as a full IUMI member. Their membership greatly enriches the IUMI community and will facilitate access to the Latin American marine insurance market giving mutual opportunities for knowledge sharing, education and networking. In this podcast, our Secretary General, Lars Lange, welcomes ALSUM and discusses future synergies with ALSUM President Arturo Posada. We also learn about the characteristics of the Latin American market and their ambitions for the future.  This fascinating podcast gives a unique insight into a growing and exciting marine insurance market. 

Two years ago we published guidance for the safe carriage of electric vehicles by sea. Much has changed since then and, as a result, we’ve updated our advice and issued a revised paper – available here: https://iumi.com/policy/position-papers/best-practice-paper-update-risk-mitigation-for-the-safe-ocean-and-short-sea-carriage-of-electric-vehicles/ In this podcast we are talking to two of the authors of the revised paper: Sebastian Kempka who is a senior consultant at KA Köln Assekuranz  and a member of IUMI’s Loss Prevention Committee; and Ricky Braz, a master mariner and marine underwriter at Munich Re. Our guests discuss the updates and revisions and offer solid advice to all those involved in transporting electric vehicles by sea, including marine insurers.

Modern slavery is a major human rights issues affecting many millions of people across the globe. Although illegal in every country, many industries are impacted including maritime. Despite being on the edges, marine insurers can still play a part in helping to reduce and ultimately eradicate this appalling practice. Pauline Des Vallieres, Chair of IUMI’s ESG Working Group and Hendrike Kühl, IUMI’s Policy Director join our latest podcast to discuss this pressing issue and to offer advice to all those working in our sector. Further reading: IUMI Information Paper: Modern slavery & forced labour: What marine insurers should be aware of: https://iumi.com/policy/position-papers/modern-slavery-forced-labour-what-marine-insurers-should-be-aware-of/ Global Slavery Index, Walk Free: https://www.walkfree.org/global-slavery-index/ Forced labour, modern slavery and trafficking in persons, International Labour Organisation: https://www.ilo.org/topics-and-sectors/forced-labour-modern-slavery-and-trafficking-persons Seafarers and Illegal Recruitment Fees: 2024 Insights, Institute for Human Rights and Business: https://www.ihrb.org/resources/seafarers-and-illegal-recruitment-fees Ocean Outlaw Podcast: https://theoutlawocean.com/podcast/slavery-at-sea

Tune into our latest podcast to get an update on the recently published IUMI statistics and analysis covering global premiums, loss ratios, market commentary and more. We feature Jun Lin, Chair of our Facts & Figures Committee and Veith Huesmann, our Chief Analyst. Together, they discuss the health of marine hull, cargo and offshore energy insurance amidst global change and uncertainty. Don’t miss it!

In our latest podcast we turn the spotlight on the Indian Marine Insurance market and we are joined by: Pratibha Jadav, Consultant at General Insurance Council of India Sujoy Maitra, Vice President & Head – Marine Insurance at ICICI Lombard General Insurance Co. Ltd. Jayati Roy, Deputy General Manager, Marine Hull, Cargo & Aviation Dept at The New India Assurance Co. Ltd. Amit Umrawala, Senior Vice President & Head – Marine at Tata AIG General Insurance Co. Ltd. We discuss the current status and future of Indian marine insurance as well as opportunities for investment. We debate the similarities and differences with international markets as well as local customs and practices; and we highlight the plans and ambitions that India has to continue to grow, develop and strengthen its market.

The much-anticipated IUMI annual conference will be staged this year in Singapore 7-10 September. In the podcast we chat with Ho Kai Weng, CEO of the General Insurance Association of Singapore and Lars Lange, Secretary General at IUMI. GIA and IUMI are co-hosting the event in the Resorts World Convention Centre on Sentosa Island, Singapore. Our guests give a unique preview of the conference and surrounding social programme and offer their thoughts on what speakers and delegates will be discussing and what’s not to be missed.

Today – 5 June – is international IUU Fishing Day which raises awareness of illegal, unregulated and unreported fishing.   This is a significant problem affecting fisheries, economies and livelihoods. It not only undermines conservation efforts but also threatens marine biodiversity and encourages poverty, food insecurity and human rights abuses.   In this podcast we discuss this concerning and growing issue in the context of marine insurance. To do that, we are joined by Anneke Kooiman who is Associate Director, Technique Marine at DUPI in the Netherlands. Anneke has a long association with IUMI including a number of  years chairing the Inland Hull, Fishing Vessels and Yachts Committee where she was very vocal on the issue of IUU fishing.    We are also joined by Lindsay Getschel who is an Outreach and Engagement Senior Associate from the Ocean Risk and Resilience Action Alliance in Washington DC.