ShipIn Systems has secured an investment from Munich Re Ventures, a provider of reinsurance, primary insurance, and insurance-related risk solutions to help the company further develop its artificially intelligent (AI) fleet management platform.
By deploying AI-powered cameras and real-time visual analytics, ShipIn alerts shipowners, managers, and seafarers to onboard anomalies around bridge activities, safety and security, cargo operations and maintenance. With real-time notifications, benchmarking of vessel performance, and remote audits, ShipIn reportedly delivers a reduction of 40 per cent in incidents and increase of cargo operations efficiency by 8 per cent, directly improving financial performance of global fleets.
“By partnering with Munich Re Ventures, we are helping to build a safer and more productive future for the maritime industry,” said Osher Perry, co-founder and CEO of ShipIn Systems. “The reality is that as ships are getting bigger, crew are getting smaller. ShipIn’s mission is to give seafarers the advanced digital tools required to do their jobs better and fleet managers the experience and benefits of working ‘shoulder-to-shoulder’ with their seaborne teams. We believe every ship will have Visual Fleet Management in the near future.”
“By investing in ShipIn, Munich Re Ventures has clearly shown their belief in the platform and the power it has to reduce incidents onboard ships, making voyages safer with AI technology,” said Dr. Kirsi Tikka, ShipIn advisor and maritime leader. “I can foresee a future where having ShipIn onboard may reduce the cost of insurance for shipowners and will benefit the insurance industry as well.”
“ShipIn’s patented platform brings the vision and capability to support the broader digitalisation of the marine and cargo shipping industry,” said Timur Davis, investment principal, Munich Re Ventures. “We see this trend as an important enabler for marine organisations to make more informed decisions in managing assets at sea. Munich Re Ventures looks forward to collaborating with ShipIn to reduce incidents on a ship, improve overall safety and operations, and ensure effective and timely resolution to on-board incidents.”
