UltraMarine InsurTech
Better boat insurance, powered by data
At a glance
-
Development stage
Active / generating revenue
-
Investment stage
Pre-Seed
-
Commercialisation pathway
UNSW Founders startup
-
Technology readiness level
TRL 6
UltraMarine uses smart sensor data to make boat insurance more personalised and usage-based.
-
UltraMarine provides usage-based boat insurance by combining low-cost IoT sensors with AI-driven risk analytics. It measures vessel usage, environmental conditions and safety behaviour to build the most accurate risk profiles in the market. Customers place a small sensor on their vessel to measure usage without the cost and privacy concerns of GPS. The outcome: customers who use their boat less often, on safer waterways, in safer weather conditions, pay a lower premium.
-
Recreational boat owners pay premiums based on broad assumptions because insurers cannot accurately measure real-world vessel usage. Lower-risk owners subsidise higher-risk owners, resulting in overpriced premiums, poor customer experience and limited incentives for safer boating.
-
Owners of recreational boats over 20ft stored in marinas or on moorings, initially targeting Australian marina customers before expanding into the US market.
-
- 1M+ IoT data points collected during trials across 3 marinas
- Awarded NSW MVP Grant
- Accepted into the InsurTechNY MGA Lab Program in New York ultramarine.live
Discover more UNSW spinouts
Search our catalogue of active spinouts and tech for license.