LONDON, 23 OCTOBER 2020 – The Shipowners’ Club, the leading P&I insurer in the smaller and specialist vessel sector, has migrated to a bespoke Policy Administration System developed with its technology partner, Jumar Technology.
Jumar Technology, a business technology outcomes specialist, has been the key technology partner of the Club for more than five years to deliver a range of technology projects as part of its transformation programme. This partnership has been instrumental in driving the development of the Club’s new Policy Administration System (PAS), supporting its global network of Members and Brokers.
Jumar was asked to develop a new platform focused on providing the business with a tool that would allow policies to be administered end-to-end, supporting new business, renewals, documentation, and complex mid-term adjustments. The result is a globally unique platform that supports the Club’s key differentiators in the market, customer service, customer experience and product flexibility.
As a result of the new platform:
- 87% of renewals were complete ahead of the final week of the renewals deadline
- 100% increase in customer satisfaction ratings in 2020 compared to 2019
- Over 20,000 policies migrated into the new improved system
As the Club looks to the future, Members and brokers have the confidence that their insurer is operating with the latest cutting-edge technology, that they have the ability to self-serve their documentation, and that claims will be processed quickly. Previously, the automatic creation of 120,000 documents during the renewals period would have been unthinkable – now the system easily generates 6,000 documents per day. This is evidence by the 100% increase in customer satisfaction ratings in 2020 compared to 2019.
Jumar Technology’s MD, Matt Fox, comments: “We are extremely excited to have achieved such as significant milestone for Shipowners and that the technology developed has given the club an enhanced solution to improve the speed and accuracy for their staff and ultimately their customers”.
Commenting on partnership the Club’s Chief Executive, Simon Swallow, stated: “Jumar, in conjunction with our IT and change team, have worked tirelessly in supporting the Club in providing one of our smoothest 20 February renewals to date through the delivery of a first-class policy administration system”.
For more information on the Shipowners’ Club and Jumar Technology partnership or the new business focused platform, please see the full case study here.
Notes for editors
The Shipowner’s Club:
The Shipowners’ Club is a mutual marine liability insurer, providing Protection and Indemnity insurance for small and specialist vessels since 1855. The Club is a member of the International Group of P&I Clubs and works with more than 600 brokers globally to insure over 33,000 vessels across a range of operating sectors and geographical areas.
Jumar Technology provides solutions and services to help clients exploit cloud and data technologies, enabling businesses to improve competitive edge and time to market whilst mitigating risk. It forms part of the Jumar group, which for over 20 years, has dedicated itself to providing first-class technology specialists to organisations within government, finance, insurance and the utilities sectors.