By Mahima Chawla | July 11th, 2023
HiLo’s world-leading maritime digital transformation technology has produced a ground-breaking marine risk management system, Pinpoint. Based on accurate statistical analysis, we can show you exactly where and how to act to reduce maritime accidents for your fleet – now and in the future.
By using our 6-step plan for continuous maritime safety improvement, you will save money, time and lives.
Records are growing at an exponential rate. Every process on board ship creates a new data point. Greater data means more insights, which can be used to discover and solve problems more effectively than ever before.
We use this ever-growing volume of maritime risk management data and analysis to anticipate and prevent issues on your fleet. The more information we have, the more accurate our marine risk management recommendations are for your unique fleet.
Simply put – everything you already collect.
The data which already exists in your fleet can be transformed into a vital decision-making tool. This includes data from sources other than traditional incident management systems. Shipping companies currently share over 500 different types of big data from a range of areas including:
By using more and more big data, we can identify the warning signals present on your fleet which are missed by other systems. This increases the chances of fixing issues before they cause a major incident.
You might think: “Won’t sorting out all that data take a very long time?”
In a word: no. The great thing is you don’t need to tidy up or standardise the data before sending it to us. Our industry-leading machine-learning processes do all of that for you.
Replace hours of manually working through data with a simple, safe transfer.
Our next step is cleaning the data for you – saving you the time and effort of doing so.
We strip out the information that is not useful for risk analysis, and standardise the data to evaluate using our machine learning, developed exclusively for marine risk management.
This is a huge time-saver for you, because around 80% of the original data will not tell us very much. But using the maritime digital transformation technology we have perfected, we find the 20% that is vitally important.
That is why we need all the maritime risk management data and the best analysis available, to ensure we find every critical piece of information that can reduce maritime accidents and save lives.
Our data analysis will deliver a personalised list of ‘leading indicators’ of potential maritime catastrophes for your fleet, based specifically on your unique data.
This is a huge breakthrough in marine risk management. Leading indicators are the most common root causes of incidents, and crucially, often occur well before a major incident.
You therefore have the time to stop them developing, and the knowledge of where to act.
Identifying these specific risk factors for your own fleet statistically and quantifiably means you can take much more effective preventive actions. By addressing risks early, while they are still small issues, you can prevent the major incidents they would otherwise lead to.
With leading indicator data identified, in the next step we add that information into our statistical model. This then calculates the specific risks you face – both now and in the future.
As it is based on your own extensive data and our world-leading maritime risk management data and analysis technology, this statistical model is the most accurate method in the industry of calculating these risks. It means you can proactively fix smaller issues on board your vessels before they develop into a major fault.
We can also tell you exactly how to solve them, quickly, through critical, time-sensitive actions, through our new actionable data and analysis tool, ‘Buzz’.
Therefore, through a combination of your big data, and our maritime technology innovation, we can reduce maritime accidents.
So you know which issues to fix, and how to do so. The next question is: “if many changes are needed, where do we start?”
Don’t worry – we answer this for you as well. We provide a risk ranking, showing you which issues present the biggest risk to your fleet. By addressing the leading risks first, you minimise the risk of them developing into a major incident.
Our risk ranking means you can easily see in one simple view the full list of problems for your fleet. You can both identify the issues that need fixing most quickly, and plan a longer-term strategy to fix all faults on your vessels and systems.
As well as an overall view of your fleet’s health, you can drill down into further detail of each risk to see what is causing it.
We provide you with your own, personalised plan for continuous improvement to your safety programmes, in order to reduce maritime accidents.
My Safety Strategy (MISS) uses maritime risk management data and analysis to provide expert recommendations based on your unique risks. By using it, our customers learn practical, proactive changes which make a dramatic impact on safety.
And we don’t only tell you what to do – we also explain exactly how to do it. We show you exactly where and how to act to prevent your warning signals growing into serious issues.
The results of MISS are based on over 100 years of maritime and statistical expertise, unrivalled in the industry.
The more marine risk management data you give us to feed into Pinpoint at step 1, the more accurate results we can give you. Your safety will continuously improve as the 6-step cycle of maritime digital transformation improvement continues to flow.
In 2021-22, vessels in the HiLo fleet saw:
Each HiLo customer has saved an average of $3 million annually by preventing incidents.
HiLo’s maritime digital transformation technology saves money, time and lives. Join us today to see how can work for you.