Data innovation

Group P&I Clubs’ members would benefit from innovation in the collation of data, according to Richard Adler, senior vice-president and head of P&I, global marine practice at broker Marsh. He said Marsh was already quite advanced in developing a tool for P&I analysis. “Our technology gives us a good way of analysing P&I data – it explains the black box of P&I, which is a complex set of rules and the widest cover in terms of limits and in terms of what it covers.” Marcus Baker, chairman of the global marine practice at Marsh added that P&I was a very “personal buy”, but that marine was run, from an underwriting perspective, on relatively static data.