UK-based Rolls-Royce and French insurer AXA Corporate Solutions have signed a Letter of Intent (LoI) to explore ways to bring a new offering to the marine market, utilising Rolls-Royce Ship Intelligence systems and equipment and AXA’s risk analytics capabilities. The products will be addressed to current sailing and future autonomous vessels.
Rolls-Royce Ship Intelligence products use a wide array of sensors onboard, streaming data, allowing AXA Corporate Solutions to deliver a new level of service to marine vessels.
Namely, Rolls-Royce Ship Intelligence currently offers Intelligent Awareness, Energy and Health Management products, which utilise data and analytics to support maritime operations and provide a new level of insight.
This data may also be used with AXA to manage risks currently covered by their Hull and Machinery insurance, as well as new types of products and services to support customers in volatile and difficult shipping markets. AXA is currently working on insuring autonomous cars and this knowledge is expected to play a key part in establishing standards for insuring autonomous ships.
Karno Tenovuo, Rolls-Royce, SVP Ship Intelligence, said that the cooperation with AXA and their knowledge of risk will improve performance and safety onboard.
Etienne Champion, CEO Asia-Pacific AXA Corporate Solutions noted that this cooperation will ensure insurance services are ready for the next generation of shipping.
In the longer term, the parties will look at the changing risk profiles of maritime operations driven by increasing levels of remote control and automation, as well as new maritime business models enabled by unmanned ships.
