Risk Management Products from Rolls-Royce

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U.K.-based Rolls-Royce Holdings P.L.C. said on Monday that it had signed a letter of intent with Axa S.A. to work together in developing products related to autonomous ships, reports Business Insurance.

Intelligent ship analytics

The agreement would explore ways to use Rolls-Royce Ship Intelligence systems and equipment along with Axa’s risk analytics capabilities to support current sailing and future vessels, Rolls-Royce said in a statement.

Rolls-Royce Ship Intelligence currently offers intelligent awareness, energy and health management products, which use data and analytics to support maritime operations.

Helps to maintain hulls

This data may also be used with Axa to manage risks currently covered by their hull and machinery insurance, as well as new types of products and services to support customers in volatile and difficult shipping markets. Axa is working on insuring autonomous cars, Rolls-Royce said, and this knowledge will play a role in establishing standards for insuring autonomous ships.

Effortless ship control

Rolls-Royce and Axa will also look at the changing risk profiles of maritime operations driven by increasing levels of remote control and automation, as well as new maritime business models enabled by unmanned ships.

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Source: Rolls-Royce

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