Concirrus, an AI insurtech company, has strategically partnered with OceanMind to accelerate its long-term ESG roadmap. This partnership begins with enhanced emissions tracking to support insurers and P&I clubs in meeting global decarbonisation targets, aligning with its commitment to the UN Sustainable Development Goals.
About OceanMind
OceanMind provides analysis, intelligence, support, capacity building, and training to power effective enforcement of marine regulations for governments and regulating bodies globally.
Market Context
Amid increasing regulatory focus on maritime emissions and sustainability, the insurance sector is under growing pressure to support greener shipping practices.
Partnership Details
Concirrus leverages OceanMind’s decade-long marine enforcement expertise and emissions monitoring to provide actionable insights for its clients. OceanMind’s data solutions also provide emissions modeling for the global shipping fleet, delivering key insights into compliance with Carbon Intensity Indicator (CII) ratings and Poseidon Principles alignment.
Benefits for Insurers
The partnership ensures that insurers using Concirrus’ ESG module can track portfolio performance against industry benchmarks and make informed underwriting decisions based on sustainability metrics. Aligned with the Poseidon Principles, this ensures that insurers meet their sustainability commitments.
Long-term Goals
The partnership aims to provide insurers with a comprehensive solution that meets compliance standards and drives positive environmental impact within the maritime sector.
Comments from Leadership
James Whitlam, Product Director at Concirrus, commented, “Our collaboration with OceanMind marks a significant milestone in our ESG journey. By integrating OceanMind’s robust emissions data into our ESG module, we enable insurers to assess fleet sustainability with greater accuracy, align with evolving industry regulations, and generate comprehensive disclosure reports.”
Nick Wise, Founder and CEO of OceanMind, added, “Concirrus is at the forefront of data-driven transformation in maritime insurance, and we are thrilled to partner with them to enhance ESG capabilities in the sector. For many shipping and maritime companies, emissions data and actionable compliance intelligence is now much more than a ‘nice-to-have’; these insights have become increasingly material as new regulations come into play and ESG targets are set.”
