The first round of Marine Insurtech Summits – hosted by Instech Solutions, Concirrus, Acord and Whitespace – were held in Bergen, Oslo and London recently. Their aim? To explore how technology is reshaping marine and offshore energy insurance.
The well-received events brought together developers, end users, industry leaders, senior executives and decision-makers. Sessions focused on key trends and resulted in engaged discussions, considerations and insight sharing from hosts and attendees alike.
Some of the key takeaways included:
Digital transformation is no longer optional
The message was clear: digital transformation is essential. The industry is moving towards digital platforms and structured data standards; not just to streamline operations, but to remain competitive in an increasingly fast-paced market. Automation, efficiency and the reduction of manual processes are no longer optional – they’re prerequisites for success.
Collaboration and standardisation drive real impact
Technology alone isn’t enough: real progress requires industry-wide collaboration. Standardised data structures, seamless system integration, as well as agreement on minimum data requirements, are all critical to unlocking the full potential of digital transformation. At the same time, systems must remain flexible enough to tailor products to clients’ specific needs – a delicate balance between efficiency and personalisation. Core insurance systems built specifically to support marine insurance will be central in achieving this.
AI and compliance: shaping the future together
Artificial Intelligence is moving from promise to practice. In marine insurance, AI is emerging not as a replacement for human expertise but as a “digital colleague”, enhancing underwriting, risk assessment and operational efficiency. Add to this that compliance, transparency and vendor management – especially under regulations such as DORA – are increasingly important for building trust and resilience. The future belongs to organisations that can combine technological innovation with robust governance and secure operations.
The conversations reinforced one central idea: transformation is happening and those who embrace collaboration, structured data and AI-powered insights will be best positioned to lead.
We look forward to furthering these discussions – particularly within IUMI’s Data and Digitalisation Forum – and observing how these insights lead to measurable advancements for clients, brokers and underwriters.
