Marine

These are uncertain times in the marine insurance market. Cargo especially has suffered from the impact of recent natural disasters, including earthquakes and hurricanes. Other factors, including major fires aboard container ships and continued growth in global trade, have also contributed to a modest rise in premiums.

We use our data-driven, legacy-free approach to write fair and honest insurance for marine clients facing these and other complex risks.

We offer insurance in four areas: marine hull and machinery, marine liability, cargo and specie. Our particular focus is on atypical marine risks, including project cargo, specialist craft and builder’s risk. With 65 years of combined experience in these complex areas, and access to almost real-time data, we can give you a specialist and client-centred service.

John Potter

Head of Marine

I worked in marine insurance for 17 years before joining Convex. One of the reasons why I came here was to create something that’s data-led and applies technology intelligently. We’re using our lack of legacy liabilities or systems to do it before our competitors.

Our overall approach is both dynamic and by the book. I’m studying for an MBA and almost everything the board has done here has been textbook business practice – from holiday allocation to feedback loops. It’s also part of the culture to comment if something isn’t working.

It’s exciting to be part of Convex. We’re starting with a blank sheet of paper, have the best specialists in the business and are using data to make better decisions. All of this gives us a tremendous advantage over big brokers and carriers, for whom change is like piloting a super tanker with a dinghy rudder.

Liv Tyler

Head of Marine Insurance

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We have a team of exceptional people and a flat structure that encourages new ideas.

That means we don’t rule out areas of insurance just because they’re difficult or potentially unprofitable. Instead, we test our hypotheses against almost real-time data. This allows us to confirm our instincts and see how a risk compares to other, similar ones. We can then price risks more accurately, and offer you a full spectrum of marine cover.

Essentially, our access to data helps us make better, faster decisions at every stage of the underwriting process. It also allows us to work from ‘clean’ data and decide now how we want to use it in the future. For example, we’re changing the basis of our underwriting decisions on hull and machinery insurance from what the asset is to how it behaves. This will give you a better product and increase our chance of being profitable in a challenging market.

Who we do business with

We focus on organisations that are either globally recognised and respected, leaders in their fields, providers of specialist products and services or niche players. We have the expertise to help clients with their most complex marine insurance needs, including project cargo, specialist craft and builder’s risk.

We’re also keen to be different from traditional marine insurers. That means we want to work with clients who are serious about risk management and about partnering with the right carrier.

Inevitably, we’ll attract clients who like the way we do things and how we’re set up. You may also want to partner with us if we’re an ethical and cultural fit – for example, if you’re comfortable working with a paperless business.

Who to speak to

Portfolio Image
John Potter
Head of Marine