HiLo MRM – Maritime AI Safety Solution Wins Lloyd’s Intelligence Big Data Award at the Greek Shipping Awards 2022!
On Friday, December 2nd, Lloyd’s Greek Shipping Awards 2022 ceremony took place in Athens, Greece.
It is the biggest awards gathering of the Maritime Industry and the ceremony hosts more than a thousand key shipping personalities from Greece and abroad. Maritime community gather to catch up on some of the year’s highlights, meet top performers & watch the winners be revealed!
This year, our partner HiLo was nominated and was the winner of the Lloyd’s Greek Shipping Awards 2022, Intelligence Big Data Award.
HiLo’s new approach to safety and their statistical analysis has enabled the industry to move away from retrospective analysis of maritime incidents. “HiLo” means “High Impact, Low Frequency” – thus, allows companies to accurately detect where small-scale leading indicators are likely to lead to high impact events. HiLo has empowered shipping companies to act with a laser focus – helping companies prevent asset damage, reputation of the company, environmental pollution, injuries or even fatalities.
Today HiLo collects over 500 different types of data sets from 60+ shipping companies with 3.500 commercial vessels. These data sets come from different departments within a Shipping company, and include near miss reports, observations from Auditors, inspection reports, defects from the PMS, PSC, and so on. HiLo collects more than 500.000 events/data points each year, making it the biggest safety database in the maritime industry by far. HiLo’s Team combines Maritime professionals, with Statisticians and Data Scientists. It’s machine learning algorithms and a mathematical model have been developed to tailor-fit individual vessel types (I.e., tankers, bulk carriers, containers etc.).
As a result, HiLo identifies which incidents and accidents are most likely to happen, so that a shipping company can focus on the issues that matter most.
After 8 years of collecting very sensitive data from shipping companies, HiLo has provided information that has made our industry and oceans safer:
- 3 million GBP averaged cost avoided per company in 2021
- 5% reduction in major oil spills
- 8% reduction in serious injuries
- 12% reduction in high impact/potential high impact incidents
- 135 fewer high impact/potential high impact incidents for Bulk carriers
- 308 fewer high impact/potential high impact incidents for Tankers
HiLo has used big data to save lives!
Hilo has strong relations with the Greek Shipping Industry as the majority of HiLo first clients come from Greece. HiLo’s official representative in Greece is Oriani Hellas, an active Maritime start-up that has established a large network & gained the trust of 35+ Greek Shipping Companies. Oriani leads the digitalization of the Maritime Industry in Greece by providing the most innovative solutions to Greek Shipping Companies. HiLo’s vast adoption by the Greek Shipping industry via Oriani Hellas demonstrates the leadership of Greek Shipping companies in the world in safety excellence.
HiLo also a few years ago, took the initiative to start a model for the Bulk sector, and once again the Greek Ship Owners showed their trust in the common good and an informal Bulk Operators gathering was organized in Athens on the 14th of September. In this IBOSF (Informal Bulk Operator Safety Forum) more than 25 professionals from over 15 Greek Bulk Operators attended, clearly showing the way to share data for the collective good.