Proteus Risk Solutions is a maritime insurance broker, currently insuring more than 100 off-shore vessels against risks of war, theft, and damages caused by ice or other external factors.
The client needs a technological solution for the precise tracking of off-shore vessels, their courses, and the location of high risk zones. Lloyd’s periodically publishes a list with coordinates of zones for which an additional premium should be paid. These zones are fluid and can change quickly. In the current situation, it is the responsibility of the shipowner (or master) to report when the vessel is a zone for which a premium is required.
The War Additional Premium Application (WAPA) provides users with real-time tracking technologies, proactively tracking vessels, voyages, and HRA’s (High Risk Areas), in order to estimate the exposure to theft or damages. These used technologies process hundreds of variables in a dynamic environment. We provided the client with real-time tracking technologies by means of an AIS (Automatic Identification System).