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Correspondents are the ‘eyes and ears’ of Protection & Indemnity (P&I) Clubs. As the local representatives of some of the world’s biggest marine insurers, they have spent years building strong connections and industry knowledge to support Clubs by providing updates on changes to local laws or statuary requirements and advising on claims trends.
GAC’s P&I correspondents handle P&I and hull and machinery (H&M) insurance claims management and incident response services from more than 20 locations worldwide.
Last month, GAC’s P&I experts from the Middle East region as well as India, Indonesia, Saudi Arabia and Sri Lanka joined correspondents from around the world for the latest Correspondents Seminar hosted by the International Group of P&I Clubs in Hong Kong to learn more about the key trends and challenges for the sector.
“It is a correspondent’s duty to be vigilant, precise and knowledgeable about local laws in force and how they could affect a particular situation,” says Melwyn Crasto, Managing Director of GAC Indonesia, who was a part of the GAC contingent in Hong Kong.
“This year’s gathering of P&I correspondents in Hong Kong stressed that message along with the importance of our role in assisting with vessel incidents, particularly in the Asia-Pacific region.”
Debbie Jones, GAC Sri Lanka’s General Manager - P&I and Medical Assistance, notes that two significant incidents handled by her company were highlighted in the claim handling session, underscoring its exceptional services and expertise in handling P&I-related claims.
Going beyond
More than 300 Club members, correspondents and maritime peers were a part of the three-day event, which offered attendees a rare chance for one-to-one time with senior claims managers of some of the world’s biggest marine insurers.
“The value of personal meetings between us and the Clubs cannot be underestimated,” says Reena Dsouza, General Manager of P&I Services at GAC India. “They are an opportunity to build rapport, establish trust and better understand our clients’ needs and expectations. Most importantly, meeting face-to-face ensures we go beyond knowing someone through email or phone calls. Visibility is vital, otherwise you can be considered ‘out of sight, out of mind’.
“This reflects GAC’s approach to everything we do, not just in P&I. The personal touch enables us to understand our customers’ needs more directly and ensures we can build a level of trust that is unmatched in our industry.
“A positive and proactive approach to assisting clients is already our ‘bread and butter’ but a personal touch ensures we can be trusted long-term partners for all manner of customer requirements.”
Technology and immediate response
Technology was another major topic of discussion during the Hong Kong seminar. Increasingly, P&I Clubs are using digitalisation and Internet of Things platforms to help identify risks and help loss prevention methods. Such technology has enabled correspondents in the marine insurance sector to be available round the clock to respond to any vessel incident.
Among 1,600 correspondents worldwide, GAC stands out as one of the few companies with access to advanced AI tools. It stays ahead by using the Maritime Intelligence Risk Suite (MIRS) which integrates the world’s largest maritime database, real-time ship movement tracking software, and a newly developed risk events database to provide a one-stop maritime risk mitigation solution.
Time is always of the essence. Gone are the days where you could have a response in a few days.
“Now, members expect immediate action and, more often than not, an immediate solution,” adds Melwyn. “Technology has made that possible. But while this year’s seminar spoke often about the potential of artificial intelligence for our industry and the importance of technology to support our work, it will never replace keeping our ears to the ground and having a personal presence at vessels and ports around the world.”
