Supply vessel by offshore oil rig

Risk Intelligence signs an agreement for the Risk Intelligence System with a leading north European offshore operator

22 September 2020

Risk Intelligence A/S (“Risk Intelligence” or "the Company") announces today that the Company has signed an agreement with a leading north European offshore operator for the Risk Intelligence System.

The offshore operator has offices on four continents, providing specialised offshore services to the offshore energy sector worldwide. Their fleet consists of both service and supply vessels servicing global renewable energy companies as well as traditional offshore energy operators.

Jim Pascoe, Chief Commercial Officer of Risk Intelligence, says:

“Their worldwide presence and diverse service and supply fleet makes them an ideal client for us, and we are really looking forward to providing them with advanced situational awareness through the Risk Intelligence System. With a global client base, their vessels frequently travel in high risk areas and need access to the very best planning tools to assess their security risk. We’re proud to be their security intelligence provider of choice.”

With access to the Risk Intelligence System, the operator will be joining many other maritime industry organisations, operating word-wide, that are assessing security threats and risks based on intelligence and in-depth assessments from Risk Intelligence. Today, 14.7% of the global merchant fleet in international traffic is operated by Risk Intelligence clients.

The Risk Intelligence System

The Risk Intelligence System is a digital security intelligence solution developed in close collaboration with global businesses that are established within the fields of shipping, offshore, oil and gas. The digital platform is designed on the basis of insights directly from customers and their needs as well as Risk Intelligence’s experienced security risk analysts and developers’ knowledge of intelligence and assessment needs.

The Risk Intelligence System offers customers a complete picture of immediate, short- and medium-term security risks for coastal areas, ocean, port and landside threats. The analysis is focused on insurgency, piracy, organised crime, activism, terrorism, military conflicts and any interplay between these. Risk Intelligence identifies where serious events arise and presents an assessment of how great the threat is in each area. This enables companies to evaluate both current and future security risks in real time to minimise risks across their operations.

Licences provide strong recurring revenue

The license agreement provides access to the Risk Intelligence System (MaRisk+PortRisk) through a subscription, paid for twelve months at a time in advance. Variables of the Risk Intelligence System license agreements are number of system users and standard reports included. The Risk Intelligence System license agreements create recurring revenue with a renewal rate of 98-99% (churn of 1-2%) and generates strong cash flow for the Company.

For more information on services and the System:
Please watch our corporate video: Knowing Risk

For further information about Risk Intelligence, please contact:

Hans Tino Hansen, CEO
Jim Pascoe, CCO
Telephone: +45 7026 6230

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