By HiLo Maritime Risk Management | August 26th, 2021
Many shipping companies are already making our seas safer by sharing their data. Our subscribers share their full journey data with HiLo, enabling us to use powerful predictive modelling and expert analysis to pinpoint the leading incidents that can pose risks to a fleet.
We’re the only maritime risk management company to collect data from every data set, meaning we have complete visibility of maritime risks that companies cannot achieve alone. The more companies who share their data, the more equipped we are to increase safety for everyone who works at sea.
Effective risk management means analysing every data set
While other companies assess risk based on incident management system data, HiLo looks at data from every data set. By analysing data from audits, inspections, unscheduled repair reports and many more, HiLo can identify risks that companies would have to comb through every data set to see. Even then, HiLo’s statistical analysis is key to understanding which data points represent a real risk to crew safety.
Because company data isn’t standardised, it’s almost impossible for companies to manually analyse their own data for patterns that could spell risks further down the line. Even with the best intentions, taking on the challenge of trying to assess how serious a risk might be using only internal data sets is extremely difficult and could lead to missing very real threats.
These challenges mean that most companies only look at their Incident Management Systems. Although they contain valuable information, they don’t cover everything. For example, a damaged pilot ladder would not be flagged in an Incident Management System until there was an actual injury or a near miss on it.
It would, however, show up in internal and external audits, which are captured in HiLo’s analysis. To put it simply, if you don’t look at every data set, you run the risk of an unexpected incident or accident taking place and harming your crew.
The maritime industry carries a unique set of risks. Even seemingly minor events can lead to catastrophic incidents at sea, costing lives.
How does HiLo save lives at sea?
Every shipping company generates an impossible amount of data to deal with. Even if you have the time to go through every data set to try and spot risks, individual companies don’t have access to the wider industry view that HiLo utilise.
HiLo takes the guesswork out of company data by analysing data using our world-leading predictive models to gauge the significance of each individual risk. HiLo collects data, standardises it and shows you what matters.
Sharing your data with HiLo enables us to highlight the leading indicators that can pose risks to your crew. By flagging the leading indicators that require attention, we make it possible for companies to act before it’s too late.
We understand that sharing your data is a big step. In the past, shipping companies have been instinctively protective of their data, and reluctant to share it with the wider industry for fear of repercussions and missed business opportunities.
In fact, choosing not to share your data means you’ll be missing a real opportunity to increase the safety of your crew and of the entire industry. HiLo currently collects data from a fleet of over 4000 ships, including tankers, bulk carriers, container ships and Offshore Support Vessels. Our portal is completely secure, so you can be sure your data is protected.
HiLo has collected data from more than 240,000 events, enabling us to develop our industry-leading marine knowledge database. We remove the noise, focusing on key data points for deeper analysis.
Eliminate avoidable incidents with HiLo
We use a powerful predictive modelling tool to analyse data from our subscribers, using our unique comprehensive view of fleet safety to deliver invaluable insights.
Our analysis looks at leading events that can lead to incidents, highlighting risks to a crew in detailed, customised dashboards. Company leaders can see the exact areas that need urgent attention within their fleets, helping them to reduce the risks to their crew. In this way, data sharing with HiLo reduces the risks to crew safety, vessels and all who work at sea. Using vessel data to highlight leading events enables companies to nip risks in the bud before they become incidents.
This proactive approach to risk is far more effective than the traditional approach of analysing catastrophic events when they have already taken place. All data is anonymised, so no identifiable data is shared, yet our subscribers benefit from life-saving insights that are proven to reduce risks to crew and the vessels they work on.