ShipIn Systems has secured an investment from Munich Re Ventures, a provider of reinsurance, primary insurance and insurance risk solutions, to help the company further develop its artificially intelligent (AI) fleet management platform .
By deploying AI-powered cameras and real-time visual analytics, ShipIn alerts shipowners, managers and sailors to anomalies on board regarding deck activities, safety and security, cargo operations and maintenance. . With real-time notifications, benchmarking of vessel performance and remote audits, ShipIn reportedly reduced incidents by 40% and increased efficiency in cargo operations by 8%, directly improving financial performance world fleets.
“By partnering with Munich Re Ventures, we are helping to build a safer and more productive future for the shipping industry,” said Osher Perry, co-founder and CEO of ShipIn Systems. “The reality is that as ships get bigger, crews get smaller. ShipIn’s mission is to give seafarers the advanced digital tools needed to do their job better and fleet managers the experience and benefits of working “side by side” with their teams at sea. We believe that every ship will have visual fleet management in the near future.
“By investing in ShipIn, Munich Re Ventures has clearly shown its confidence in the platform and the power it has to reduce incidents on board ships, making travel safer through AI technology,” said said Dr. Kirsi Tikka, ShipIn Advisor and Maritime Leader. “I can foresee a future where having ShipIn on board could reduce the cost of insurance for shipowners and also benefit the insurance industry.”
“ShipIn’s patented platform brings the vision and capability to support the broader digitalization of the shipping and freight industry,” said Timur Davis, Chief Investment Officer, Munich Re Ventures. “We view this trend as a significant enabler for maritime organizations to make more informed decisions in managing assets at sea. Munich Re Ventures looks forward to working with ShipIn to reduce incidents on a vessel, improve safety and operations. and ensure efficient and rapid resolution of incidents on board.