Chaucer and Ceto launch data-driven marine MGA at Lloyd’s

Chaucer and Ceto have launched a marine managing general agent operating as a Lloyd’s coverholder, introducing a model that uses real-time vessel data to support underwriting decisions.

Under the arrangement, Ceto is authorized to bind marine hull risks on behalf of Chaucer’s Lloyd’s syndicate, with additional capacity from Tokio Marine Kiln . The MGA relies on high-frequency data from vessel machinery and performance systems to assess risk, shifting underwriting away from traditional reliance on static attributes such as vessel age.

The approach is built on Ceto’s Watchkeeper platform, which continuously monitors onboard systems and generates predictive insights on vessel condition and performance. This enables underwriters to evaluate risks dynamically rather than relying on periodic inspections or historical loss data.

The launch comes as the global fleet continues to age, with average vessel age exceeding 20 years, making conventional risk indicators less effective. By aligning insurance capacity with real-world operational performance, the MGA introduces a more granular and forward-looking method of risk selection.

The initiative reflects broader efforts within the marine market to incorporate live data into underwriting workflows, particularly as carriers face rising repair costs, regulatory pressure, and increased complexity in global shipping risks.

“Marine insurance has historically relied on static information and historic loss data, despite vessels generating vast amounts of operational data every day. Working alongside Chaucer and Tokio Marine Kiln allows us to apply this capability within a disciplined, established market framework.” – Tony Hildrew, CEO and founder of Ceto.