Risk Intelligence reports that it has signed an agreement with insurance firm Singapore War Risks Mutual (SWRM) to implement its Risk Intelligence System (MaRisk+PortRisk) for the assessment and management of global maritime risk data.
The Singapore War Risk Mutual (SWRM) was established in 2015 as an insurance class of The Standard Club Asia Ltd, with the support of the Singapore Shipping Association (SSA), to give Singapore based shipowners more control over their war risks insurance.
The Risk Intelligence System is a digital security intelligence application that offers visibility of immediate, short- and medium-term security risks for coastal area, ocean, port, and landside threats. The analysis is focused on insurgency, piracy, organised crime, activism, terrorism, military conflicts and any interplay between these.
Risk Intelligence identifies where serious events arise and presents an assessment of the threat level in any given area, which can then be used to evaluate both current and future security risks with the purpose of minimising their impact on operations.
“As a mutual association priding itself on highly focussed value-creation for its members, Singapore War Risks Mutual will significantly enhance its global situational awareness and focussed security intelligence and advice through its access to the Risk Intelligence System,” said Hans Tino Hansen, CEO of Risk Intelligence.
“We are proud to have been chosen as their partner to deliver global threat alerts and risk assessments. It is a testimony to the strength of our offering and company that we have secured this agreement against strong competition.”