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2020-08-03

Risk Intelligence A/S signs an agreement with the Singapore War Risks Mutual for the Risk Intelligence System

The Singapore War Risk Mutual (SWRM) was established as an insurance class of The Standard Club Asia Ltd with the support of the Singapore Shipping Association (SSA) in 2015.  The intention was to give Singapore based shipowners more control over their war risks insurance and to enhance Singapore's maritime cluster. Since then, SWRM has flourished, creating significant value for its clients and for the local marine insurance sector.

Hans Tino Hansen, CEO of Risk Intelligence says:

"As a mutual association priding itself on highly focussed value-creation for its members, Singapore War Risks Mutual will significantly enhance its global situational awareness and focussed security intelligence and advice through its access to the Risk Intelligence System. We are proud to have been chosen as their partner to deliver global threat alerts and risk assessments. It is a testimony to the strength of our offering and company that we have secured this agreement against strong competition."

With access to the Risk Intelligence System, SWRM joins many other marine insurance mutual clubs servicing their globally operating members, who all assess global security threats and risks based on intelligence and in-depth assessments from Risk Intelligence. Risk Intelligence currently serves more than 14.7% of the global merchant fleet.

Jack Marriott-Smalley, Regional Underwriting Director of The Standard Club Asia Ltd says:

"SWRM is pleased to announce its partnership with Risk Intelligence. We know their team well and are looking forward to working with them. They have an excellent product and the partnership will enhance our service to shipowners and strengthen SWRM's intelligence offering as we continue our growth as one of the world's leading national war pools."

The Risk Intelligence System

The license agreement provides access to the Risk Intelligence System (MaRisk+PortRisk). The agreement comes in the form of a subscription in which the client pays for access to the system for twelve months in advance. Risk Intelligence System subscriptions create recurring revenue and generate a strong cash flow for the Company. Currently, renewal rates run at 98% (churn 2%).

The Risk Intelligence System is a digital security intelligence solution that has been developed in close collaboration with global businesses established in the fields of shipping, offshore, oil and gas. The digital platform has been designed based on customer needs along with the experienced security risk analysts and developers at Risk Intelligence. The Risk Intelligence System offers customers a complete picture of immediate, short- and medium-term security risks for coastal area, ocean, port, and landside threats. The analysis is focused on insurgency, piracy, organised crime, activism, terrorism, military conflicts and any the interplay between these. Risk Intelligence identifies where serious events arise and presents an assessment of the level a threat represents in any given area. This makes it possible for companies to evaluate both current and future security risks with the purpose of minimising risks affecting their operations.

The parties have agreed not to disclose the value of the contract.

For more information on services and the System:
Please watch our corporate video: Knowing Risk (https://riskintelligence.eu/about-risk-intelligence)

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