Spot Ship has announced a partnership with Vanguard Tech to offer its users access to discounted war risk insurance rates, claiming that premiums up to 40% below market levels will be on offer.
Shipbroking technology start-up Spot Ship offers a range of AI-powered applications designed to assist brokers and charterers in managing operations, including a Position Directory, Laycan Search powered by sea route algorithms, Global Vessel Tracking with live AIS data, Interactive Maps for market data visualisation, a Global Ports Database, an Emissions Calculator, and a Voyage Calculator TCE to estimate profitability.
The new integration will allow Spot Ship users to calculate insurance costs from Vanguard in real time during voyage planning, incorporating insurance considerations directly into the charter decision-making process.
The companies say that they plan further integration of their respective platforms in the future following this initial agreement.
Vanguard raised US$1 million in seed funding in 2024 to develop its AI-based platform that uses vessel-specific operational data to assess risk for tailored marine insurance underwriting. Investors include Hafnia, Motion Ventures, Portline and KGJG.
