Risk Intelligence A/S signs its third multi-year agreement for the Risk Intelligence System with a global energy major
27 January 2021
Risk Intelligence A/S announces today that the company has signed its third multi-year agreement, for the Risk Intelligence System with an existing major global energy company client.
With offices in 180 countries and engagement in every aspect of the energy market from exploration and generation to transport and sales, the client is also one of the world’s largest companies and its portfolio spans all forms of energy.
Jim Pascoe, Chief Commercial Officer of Risk Intelligence, says:
“We’re absolutely delighted to seal another long-term deal with another global energy major. Whilst we have been supplying the client for many years, this agreement sees a significant increase in our license agreement and incorporation of our data into their own systems via API. The Risk Intelligence System will provide their vessels with alerts and insights into possible threats, from stowaways or activism to terrorism and piracy. The agreement also includes some of our intelligence reports and, as with every System subscriber, access to our 24/7 Duty Watch team, providing the client’s security team with enriched analysis to assist them assessing global threat and risk levels for their operations.”
The client will be joining two other existing energy major clients, operating word-wide, who have signed multi-year deals to access to the Risk Intelligence System (MaRisk+PortRisk), securing reliable analysis of security threats and risks based on intelligence and in-depth assessments from Risk Intelligence.
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 based on 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.
Risk Intelligence clients currently operate more than 14.7% of the global merchant fleet.
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
Jens Krøis, CFO
Jim Pascoe, CCO
Telephone: +45 7026 6230
E-mail: investor@riskintelligence.eu