​CetoAI

Cohort: Cohort 10, 2023 

Focus in insurance value chain/workflow: Risk Mitigation, Point of Underwriting, Loss Modelling & Analytics, Compliance & Regulatory Support 

Specific lines of business supported: Corporate  

Founded: 2020 

Status: Operating, still in insurance 

Company type: Data Provider 

Head office: United Kingdom 

Main global offices: United Kingdom 

Locations served: Global 

Employee count: 1-10 

CetoAI uses AI to provide predictive analytics to the maritime insurance sector. The company uses existing data sources on ships of any size to increase vessel availability, prevent unexpected machinery failures, improve crew safety, manage risk, and reduce performance related emissions. CetoAI identifies breakdown risks in advance, resulting in greater vessel uptime and fewer insurance losses. 

Primary way aimed to improve insurance processes and tools whilst in the Accelerator: New sources of Risk Insight - Data or Models, Increasing access to insurance. 

The programme helped with introductions to capacity providers, which accelerated CetoAI’s journey to becoming an MGA and coverholder. It also helped to close its investment round and increased the company’s brand awareness within the insurance market. In the Accelerator, CetoAI developed its Mechanical Performance Index which takes real-time data from a vessel to produce a standardised score.