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Real-Time Vessel Tracking and Risk Assessment Platform for Maritime Insurance
  1. case
  2. Real-Time Vessel Tracking and Risk Assessment Platform for Maritime Insurance

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Real-Time Vessel Tracking and Risk Assessment Platform for Maritime Insurance

lizard.global
Insurance
Logistics
Information Technology

Challenges in Maritime Risk Management

Manual reporting of vessel locations in high-risk zones leads to inaccuracies and delays. Fluid risk zones from Lloyd's require constant updates, creating administrative burdens. Lack of real-time visibility into vessel positions and risk exposure hampers premium calculation accuracy and risk mitigation efforts.

About the Client

Maritime insurance broker specializing in high-risk coverage for offshore vessels against war, theft, and environmental hazards

Key Project Goals

  • Develop automated real-time vessel tracking system
  • Integrate dynamic high-risk area mapping with Lloyd's data
  • Create intuitive interface for policy and risk management
  • Enable proactive risk exposure analysis for premium calculation

Core System Capabilities

  • Automatic Identification System (AIS) integration for vessel tracking
  • Dynamic high-risk area (HRA) mapping with API updates
  • Policy management dashboard with zone-specific premium calculation
  • Voyage history tracking and daily risk exposure digest
  • Interactive map view with risk level overlays

Technology Stack

Web application framework (React/Node.js)
AIS satellite tracking API
Geospatial data visualization libraries
Cloud infrastructure (AWS/Azure)

System Integrations

  • Lloyd's risk zone database API
  • Maritime vessel registry database
  • Payment gateway for premium collection

Performance Criteria

  • Real-time tracking updates <5 second latency
  • 99.9% system availability SLA
  • Role-based access control with GDPR compliance
  • Horizontal scalability for 10,000+ concurrent users

Expected Business Outcomes

25% reduction in risk exposure through proactive monitoring, 40% efficiency gain in premium calculation processes, improved compliance with regulatory requirements, and enhanced client trust through transparent risk reporting.

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