Clearer, more consistent technical insight into ships’ overall quality could help marine insurers make faster, more confident underwriting decisions and build greater alignment across the risk chain.
By Frank Andersen, Partnerships Manager, Idwal
The challenge of comparability
Marine underwriters have access to a wealth of vessel information, yet one persistent obstacle is the lack of alignment in how a ship’s technical state is represented. Reports differ in structure, terminology, and grading, reflecting variations in survey scope, regional practices, and intended use. As a result, interpreting and comparing data across fleets or portfolios remains complex.
In an environment where risk models and pricing decisions are increasingly data-driven, these inconsistencies make it difficult to integrate inspection-derived intelligence alongside other datasets such as ownership, operation, or voyage risk. This limits the ability to benchmark performance, track improvement over time, or build a reliable historical view of an asset’s upkeep and reliability.
Finding a consistent framework
Traditional sources, from Port State Control records to class data, each bring value but also variability. PSC regimes differ in inspection frequency and enforcement, while Class and Flag information can be fragmented or inconsistently shared. Together, they highlight the challenge of achieving a reliable, global view of vessel quality and operational behaviour.
There is growing discussion across the sector about how inspection and performance data could follow the same path as other forms of marine intelligence: towards standardisation, transparency, and integration. When this information is presented through a consistent framework, it becomes easier to benchmark assets, identify outliers, and support more evidence-based decisions. It also allows underwriters to assess not only individual ships but the wider fleet exposure profile; a key factor in understanding portfolio-level risk.
Shared benefit across the market
For insurers, greater clarity supports fairer pricing, improved portfolio visibility, and stronger due diligence. For the wider maritime community, it encourages a shared understanding of what “well-maintained” means in practical and commercial terms.
As digitalisation accelerates, so does the opportunity to establish standards and partnerships that make vessel insight more consistent, accessible, and comparable, helping to bridge the gap between what’s visible on paper and what’s true at sea.