Ahoy! has introduced a new insurance product, using its risk-reducing technology, to serve recreational boaters across the US.
Developed in alliance with national property and casualty insurer Spinnaker Insurance Company, the new offering is made available by the firm directly and via agents to boat owners in Michigan, Arizona, Ohio, Wisconsin, and Illinois.
Ahoy! said that its insurance policies are backed by specialist reinsurers Greenlight Re and Topsail Re. It eyes a broader US roll-out in the near future.
The company focuses on using technology to help protect vessels for boaters and turn “what was previously viewed as financial security into a proactive and protective asset”.
Ahoy! CEO and co-founder Amit Nisenbaum said: “A boat isn’t just another piece of property, it’s a lifestyle choice. It’s where you create memories, where you escape to when you need a little serenity or the place to run to for some excitement. We’re boaters, we get that.
“Ahoy! offers a new kind of boat insurance, not only insuring boats but providing technological tools that help boaters proactively avoid risk. Ahoy! gives boaters peace of mind knowing their needs and concerns are addressed by fellow boaters and they can rest assured that their treasured vessels will be protected and ready to enjoy at any time.”
Ahoy! provides its customers with an onboard smart boat kit, which is designed to work alongside a proprietary mobile app.
This offers advanced telemetry features to proactively help reduce risk while preventing damage or injury. It also includes a phone overboard protection policy.
Customers, through the mobile app, will receive alerts such as theft recovery assistance, grounding avoidance, and micro-targeted weather alerts and forecasts. The app is planned to soon include a digital logbook and data collection for future trips.
Ahoy! chief insurance officer and co-founder Kaenan Hertz said: “Understanding that ease of use is a critical factor, Ahoy! makes it easier for agents to offer their customer’s boat insurance that is tailored to their needs, making issuing and managing policies as easy as possible.”