LONDON, Oct. 29, 2020 /PRNewswire/ -- Windward, the Predictive Intelligence company applying AI to transform global maritime trade, announced today that it has in place partnerships with a number of leading organizations in the maritime field including four major shipping companies – Norden, Eastern Pacific Shipping, Capital Ship Management, Interunity Management Corporation (IMC) – as well as seven Protection and Indemnity (P&I) Clubs, highlighting a paradigm shift towards adopting AI to drive digital transformation in the shipping industry. Windward is providing these companies with its proprietary AI-powered Predictive Intelligence platform, enabling comprehensive industry compliance and optimizing 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 optimizing workflow processes and minimizing risk and financial losses, while also maximizing available partners and vessels to conduct business with.
Windward is also announcing today 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% 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 analyze 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 optimized 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 behavioral analytics models and over 10 billion data points. MAIA™ analyzes existing behaviors to predict in real-time which companies and vessels are likely to be high risk, and which are safe to conduct business with. Windward's solution is easily integrated into existing workflows, enabling businesses to look to the future and optimize business practices.
Windward is the leading Predictive Intelligence company fusing AI and big data to digitalize the global maritime industry, enabling organizations to achieve business and operational readiness. Windward's AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business. For more information visit: https://wnwd.com/.
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