Windward is providing these companies with its proprietary AI-powered Predictive Intelligence platform, enabling comprehensive industry compliance and optimising transparency and best business practices amongst its new partners.
The maritime industry is under increased focus regarding sanctions and compliance per recent advisories from the Office of Financial Sanctions Implementation (OFSI) in the UK and the Office of Foreign Assets Control (OFAC) in the US. Traditional list matching approaches alone can no longer address the requirements of OFAC so maritime stakeholders are now looking beyond legacy systems to AI-powered solutions in order to navigate the opaque nature of the latest advisories.
With this new reality, the wider industry is adopting technological and AI driven frameworks in order to have a scalable digital platform to make smarter business decisions, faster. The integration of Windward’s technology by four major global shipping companies is establishing a new industry standard by integrating the latest AI technologies, enabling them to be at the forefront of this paradigm shift in the shipping industry. Windward’s Predictive Intelligence solution is optimising workflow processes and minimising risk and financial losses, while also maximising available partners and vessels to conduct business with.
Windward has also revealed that it has partnership agreements with seven member Clubs of the International Group of P&I Clubs, including The American Club, Britannia P&I, Steamship Mutual, and others. These clubs provide liability coverage for nearly 65 per cent of the world’s maritime trade, making Windward the leading global provider of Predictive Intelligence in the industry. The partnership with Windward empowers these insurance providers with the ability to analyse potential policyholder risk and ensure efficient business operations and compliance with the latest regulations and advisories. Through leveraging advanced AI and big data, Windward is providing a 360° solution for maritime compliance.
“We are thrilled to announce our latest partnerships with four leading global shipping companies and seven P&I Clubs,” said Ami Daniel, CEO of Windward. “Together, we are ushering in the next era of the maritime industry, providing AI-powered Predictive Intelligence technology for greater transparency, compliance, and optimised business operations. The long-awaited digital transformation in shipping is here and we are excited to lead this shift together with our partners.”
Windward’s Predictive Intelligence solution is powered by MAIA – Maritime Artificial Intelligence Analytics – an advanced AI platform based on 300 behavioural analytics models and over 10 billion data points. MAIA analyses existing behaviours to predict in real-time which companies and vessels are likely to be high risk, and which are safe to conduct business with.