Clean room in Spire Glasgow. Photo: Spire

Spire Global and insurance analytics provider Concirrus revealed a new data collaboration. Both businesses aim to strategically collaborate to develop products and value for their clients.

“This multi-billion-dollar market faces higher risks every day, whereby huge inefficiencies continue to prevent business improvements. Our partnership with Concirrus will enable us to create a platform where data is the prime enabler for improved maritime insurance performance,” said John Lusk, GM, Spire Maritime.

“Not all data is created equal and we perform rigorous validation and due diligence on sources before deciding to integrate them into our core machine learning models. We’re excited to be working with the Spire Maritime team to provide our customers with the best, most competitive information possible for pricing, underwriting, and risk management,” says Graham Libaert, Director of Alliances at Concirrus. The company also recently announced a partnership agreement with Meteomatics, and a long-term withstanding relationship with IHS Markit.