Artificial intelligence (AI) is no longer on the horizon – it’s here, and its presence in marine insurance is only set to grow. Yet despite this potential, many underwriters are still unsure how to leverage AI in ways that measurably reduce claims, improve loss ratios, or improve operational uptime for shipowners. In particular, the opportunity to harness AI for proactive loss prevention remains largely untapped. Could we use AI to nudge shipowners toward more efficient maintenance programmes? Could we predict mechanical failure before it happens?
Today, the industry is still grappling with fragmented data ecosystems, legacy systems, and a lack of digitisation. Many insurers struggle to extract value from the vast quantities of structured and unstructured data they hold. But the future of AI in insurance lies in bridging this divide – through smart data extraction, enrichment, and integration across systems and sources.
A clear gap exists between aspiration and readiness. To close it, insurers must invest in foundational capabilities: data pipelines, interoperable systems, and governance frameworks that enable trustworthy automation. AI doesn’t work in isolation – its insights are only as good as the data it’s trained on. Confidence in AI models will grow as we reduce the “black box” effect through explainable AI, robust validation frameworks, and transparency in data sourcing.
The payoff? Enhanced risk mitigation. By using AI-powered analytics to combine real-time vessel data, historical claims, and telematics data underwriters can reduce uncertainty, improve risk selection, and sharpen pricing accuracy. Rather than reacting to loss, insurers can predict and prevent it – increasing both profitability and the shipowner’s operational uptime.
Underwriting teams stand to benefit from increased time spent on value-add activities. AI can eliminate repetitive manual tasks – such as data entry or reporting – freeing up time for underwriters to focus on judgment-based decision-making. Compliance checks can be automated. Machinery sensors can flag early warning signs. A centralised repository of underwriter expertise, augmented by AI, ensures consistent and data-driven underwriting.
It’s time to move from theory to practice. The message to the market is clear: Start trusting AI. It is not here to replace the underwriter, but to enhance underwriting judgement, reduce ambiguity, and deliver tangible results. Those who act early will not only gain a competitive edge but help lead the next evolution of intelligent marine underwriting.
