Concirrus, a prominent player in AI-driven insurance risk analytics, has announced a strategic partnership with OceanMind, a well-respected authority in maritime compliance and emissions data. This collaboration represents the initial phase of Concirrus’ long-term Environmental, Social, and Governance (ESG) strategy, which begins with improved emissions tracking to help insurers and Protection and Indemnity (P&I) clubs achieve global decarbonization goals. The introduction of the ESG module underscores Concirrus’ dedication to the UN Sustainable Development Goals, particularly Climate Action (Goal 13). As the insurance sector faces mounting regulatory scrutiny regarding maritime emissions and sustainability, there is an increasing imperative to promote greener shipping practices.
By harnessing OceanMind’s extensive experience in marine enforcement and emissions monitoring, Concirrus aims to provide actionable insights for insurers, underwriters, and P&I clubs. James Whitlam, Product Director at Concirrus, emphasized the significance of this partnership, stating, “Our collaboration with OceanMind marks a significant milestone in our ESG journey. By integrating OceanMind’s robust emissions data into our ESG module, we enable insurers to assess fleet sustainability with greater accuracy and align with evolving industry regulations.”
OceanMind’s data solutions offer comprehensive emissions modeling for the global shipping fleet, providing critical insights into compliance with Carbon Intensity Indicator (CII) ratings and adherence to the Poseidon Principles. This partnership equips insurers using Concirrus’ ESG module to monitor portfolio performance against industry benchmarks and make informed underwriting decisions centered on sustainability metrics.
Nick Wise, Founder and CEO of OceanMind, expressed enthusiasm for the collaboration, highlighting the increasing importance of emissions data for shipping companies in light of evolving regulations. The partnership between Concirrus and OceanMind not only meets compliance standards but also fosters a significant positive environmental impact, empowering insurers to promote sustainability within the maritime industry effectively.