Cargo insurers

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Difficult to assess risks without reliable data

Today, underwriting for marine insurance premiums is largely based on limited, old and unreliable data collected by brokers on paper forms. This makes accurately assessing risk difficult, often resulting in enormous losses for insurers. It also makes writing premiums inefficient and expensive, which limits coverage options for shippers. For insurers, the lack of access to timely, accurate, digital shipping data stifles their ability to provide products that meet the needs of a wide range of shippers. For shippers, fewer products makes it hard to easily find  coverage that meets their needs.  

On-demand access to data

DCSA documentation and track and trace standards give insurers on-demand access to the data they need to make more effective risk assessments. The standards align data for these critical activities based on data semantics and data attributes so it can be seamlessly exchanged regardless of platform. Standardised data that can be accessed directly by marine insurers will enable them to digitalise and even automate risk assessment using modern analytics tools. This will dramatically reduce the time and expense of underwriting while increasing its effectiveness. Ultimately, widespread adoption of DCSA standards will grow the marine insurance market by significantly lowering costs and improving efficiency while increasing profitability for insurers.

Key benefits

Our standards will provide several key benefits for you as a insurer.

  1. More accurate, timely data 
    Quickly and easily establish digital data interfaces with carriers and customers; seamlessly exchange accurate, up-to-date digital shipping and documentation data across these channels.  
  2. More profitable risk assessment 
    On-demand access to accurate, standardised digital data will enable faster, cheaper, more effective risk assessment and underwriting.   
  3. Increased innovation 
    Focus more resources on creating innovative (lower cost) and value-added services for customers, instead of aggregating and sanitising data for underwriting.
  4. Decreased risk for you and your customers 
    Lower the cost of underwriting while improving risk assessment. Bring a wider range of products to market to ensure more shipments are insured.  

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Standards for insurers

Our standards allow real-time collaboration between container shipping stakeholders. By ensuring continious access to timely shipping information, our standars enable stakeholders to proactive, data-driven decisions that improve business agility.

All standards

Ready to implement?

API specifications and a reference implementation can be found in our Developer Portal.

Developer Portal

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Shape the future of container shipping with us. Contact us to discover how digital standards can help your organisation to grow.

Contact us

Contact us

Shape the future of container shipping with us. Contact us to discover how digital standards can help your organisation to grow.

Contact us

Disruption and the case for digital standards

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