Insurance Leader Shoreline Optimized Efficiency & Risk Management with Windward

Shoreline Ltd, a specialty insurance manager, offers coverage tailored to address risks beyond standard P&I insurance. Their core offerings include war risk and environmental hazard coverage, with a particular focus on vessels operating within the U.S. exclusive economic zone (EEZ). 

Given the nature of this insurance, some policies are rated on exposure, meaning the time a vessel spent within U.S. waters.

Shoreline faced significant challenges in tracking vessel activity within the U.S. EEZ before selecting Windward. They record how many voyages involve entering or exiting the EEZ, and then charge voyage-based premiums where appropriate. 

The process required manual monitoring of vessel movements, taking up to eight hours per reporting cycle! This time-intensive workflow hindered their ability to respond promptly to operational and regulatory demands.

Shoreline turned to Windward based on industry recommendations and the vendor’s proven Maritime AI™ insights, recognizing the potential for enhanced efficiency and accuracy in monitoring vessel activities. With evolving geopolitical risks, such as the Red Sea’s heightened risk profile and an increasing number of sanctions from Russia’s war, Shoreline needed a partner capable of delivering timely, actionable intelligence via weekly and monthly reports.

Windward offers Shoreline:

1. Weekly sanctions monitoring – Windward’s weekly reports provide sanctions checks for Shoreline’s managed fleet. These reports alert the team to vessels associated with sanctioned entities, enabling proactive compliance management.
2. Monthly EEZ activity reports – Windward introduced AIS datapoints highlighting vessel transits through the U.S. EEZ. This is a key data set previously unavailable via Shoreline’s other providers.
   
   The monthly reports detail vessel entries and exits from the U.S. EEZ, allowing Shoreline to accurately track coverage periods and apply appropriate premiums. This automated system replaced Shoreline’s manual processes, significantly reducing the time required for data analysis.

Shoreline benefits from: 

1. Efficiency gains – Windward’s automated reports reduced Shoreline’s reporting workload from eight hours to a maximum of two hours per cycle. While some data cleaning is still required, the efficiency gains have been transformative.
2. Improved risk management – continuous monitoring for sanctions and vessel compliance has allowed Shoreline to respond swiftly to regulatory changes. Notifications through Windward’s portal and email ensure the team is always informed of critical developments.
3. Revenue growth – by incorporating data on transits through the U.S. EEZ, Shoreline enhanced its invoicing accuracy and portfolio income. This additional layer of intelligence directly contributed to a meaningful YoY increase in voyage premiums. The additional insights have strengthened their ability to manage and charge the right exposure-based risk premiums across their portfolio.

Windward-as-a-Service, which includes vessel screening and sanctions list matching, combines Windward Maritime AI™ with expert analysis to provide tailored insights for navigating challenges and seizing opportunities in maritime operations. Actionable intelligence helps mitigate risks and drive revenue growth efficiently.

The industry’s evolving landscape underscores the importance of reliable, accurate data and adaptable solutions. With Windward’s transition to a service-as-software approach and the launch of Gen AI tailored workflows and automation, stakeholders will be able to streamline operations and manage manual, repetitive tasks more effectively. Paired with an unmatched data foundation, and maritime expertise, stakeholders can get all the actionable insights and support needed to confidently address future disruptions and continue thriving.