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Chaucer and Ceto launch insurance product based on real-time vessel data. Chaucer and Ceto have jointly launched a new insurance product that will integrate real-time vessel data into maritime insurance underwriting to support dynamic risk evaluation. The marine Managing General Agent (MGA) offering will authorise technology start-up Ceto to bind marine hull risks on behalf of the Lloyd's syndicate of Chaucer. Additional capacity will be provided by insurer Tokio Marine Kiln (TMK), a member of the Tokio Marine Group. The MGA is underpinned by Ceto's Watchkeeper platform, which provides continuous machinery monitoring and predictive performance insights. The insurance product will utilise high-frequency vessel machinery and performance data to inform underwriting decisions, moving away from a reliance on static parameters like vessel age and aligning insurance capacity more closely with demonstrated maintenance and performance standards. The partners note that they will focus on vessels capable of producing onboard machinery sensor data to support this process. "Marine insurance has historically relied on static information and historic loss data, despite vessels generating vast amounts of operational data every day," said Tony Hildrew, Chief Executive Officer and Founder of Ceto. "Working alongside Chaucer and Tokio Marine Kiln allows us to apply this capability within a disciplined, established market framework." Rob is Chief Network Officer and one of the founders of Smart Maritime Network. He also serves as Chairman of the Smart Maritime Council. Rob has worked in the maritime technology sector since 2005, managing editorial for a range of leading publications in the transport and logistics sector. Get in touch by email by clicking here, or on LinkedIn by clicking here. Further reading. Software, AI and Big Data January 15, 2021 Software, AI and Big Data November 18, 2025 Software, AI and Big Data October 2, 2023

Chaucer and Ceto join forces at Lloyd's. Marine insurance is taking a significant step toward data-driven underwriting with the launch of a new Lloyd's-backed managing general agent (MGA) by Chaucer and maritime technology firm Ceto, replacing decades of reliance on static historical data with live vessel machinery and performance intelligence. The MGA will operate as a Lloyd's Coverholder, with underwriting capacity provided by Chaucer's Lloyd's syndicate and Tokio Marine Kiln. At its core is Ceto's Watchkeeper platform, which continuously monitors onboard machinery and operational performance data, feeds high-frequency real-time signals directly into underwriting decisions rather than relying primarily on historic loss runs and periodic surveys. We're moving underwriting closer to the actual condition of the vessel, not just its history on paper The venture builds on an earlier delegated underwriting pilot conducted under Howden Ventures and DUAL, now converted into a fully authorised MGA structure. With the global commercial fleet averaging more than 22 years in age, vessel age has become an increasingly unreliable proxy for actual risk, the backers of the new venture argue. Two ships of the same vintage can carry vastly different risk profiles depending on maintenance discipline, operational patterns and machinery condition - distinctions that traditional underwriting methods struggle to capture. Tony Hildrew, CEO of Ceto, said the launch represents a structural shift in how marine risk is assessed. "We're moving underwriting closer to the actual condition of the vessel, not just its history on paper." Marine hull insurance has long been criticised for pricing that inadequately differentiates between well-maintained and poorly-maintained vessels. If real-time operational data can systematically close that gap, the implications extend beyond pricing - touching loss prevention, claims frequency and ultimately the incentive structures that shape how owners maintain their fleets.