London-based insurance broker Miller has extended its partnership with the insurtech Concirrus.
Concirrus is the developer of a scalable risk management platform specifically designed for the marine market called Quest Marine. By renewing its partnership with Concirrus, Miller will continue to utilise the Quest Marine platform to leverage analytics in the development of new products and services.
“Quest Marine allows us to enhance our offering to clients, utilising digitalisation and advanced behavioural insight in the assessment and placement of business. The insights available will enable us to build on our existing best-in-class approach, providing a comprehensive understanding of our clients’ risk profile, and ensuring we can better match capital to risk,” said Miller head of direct marine Nick Summers.
Summers added that the identification of fleet and vessel behaviour with Quest Marine will enable Miller to advise clients and provide new advice that could impact their renewal costs over time.
A release said that thanks to the breadth of insurance insights available through Quest Marine, Miller’s brokers can target client improvement efforts on the most critical factors affecting the portfolio. Clients and underwriters without direct access to Quest Marine can still benefit, as Miller can share insights digitally or on the trading floor.
“We’re excited to be working with Miller on the evolving nature of brokerage in marine markets. Broking will see a huge change in business model, moving from a dominance of transactional business through to long-term services,” said Concirrus CEO Andrew Yeoman. “Miller’s focus will showcase how brokers will become more influential in a digital future, adding value through data-led insights and long-term relationships.”