It gives a technical price for Marine Hull Insurance. It can be used as a part of your risk assessment in the underwriting process.
Within commercial Marine Hull Insurance there is a general lack of data and information about technical pricing. We aim to address this issue by collecting data and analysing this to produce a Hull Rate. This model specialises in blue water marine hull statistics.
The aim is to provide members a technical price that can be used within the underwriting process when assessing risk premium. The model provides analytics that are required in making an informed decision. We do not recommend a price, what we do is provide statistical observations. Look at our FAQ section for further questions you may have regarding the site and the services offered.
Marine Hull Insurance underwriters should use it.
Marine Hull Insurance Underwriters and Actuaries based in the London Market should use this service, when estimating the price of hull insurance contracts. Most underwriters in the market place use legacy rates based on experience or their own internal model. This model would be useful for underwriters who need a statistical validation of their pricing. An important factor to note is that this is a much larger data set than the internal data of one company.
Only Marine Hull Pricing tool in the market. Easy to use and provides a result based on a large set of data. This is the only tool that aggregates data and then produce a pricing. The methodology is simple and transparent.