Risk And Insurance Management in the Shipping and Cruising Business

Rocco Bozzelli, Head of Global Insurance, MSC Cruises

Rocco is the Head of Global Insurance at MSC Cruises, based in Switzerland. In this position, he handles risk and insurance management for MSC Cruises Group on a global basis. He developed an international career (in Switzerland, France, Italy, Belgium, and Monaco) with significant expertise in marine (re)insurance underwriting, broking, consulting, and corporate risk & insurance management for shipping companies. He has been a board member of NorthStandard P&I since 2022 and a board member of SIRM (Swiss Association of Insurance and Risk Managers) since 2024, and he teaches Marine Insurance at Cineas risk engineering master at Milan Politecnico University.

Through this article, Bozzelli emphasizes their strong maritime heritage, extensive career in marine insurance and risk management, and dedication to improving the industry through innovative solutions, risk strategies, and active engagement in professional organizations.

I grew up in Genoa, the maritime capital of Italy. My Dad was a Ship Master and Harbor pilot, and my grandfather was a fishing vessel Captain: maritime business and the sea are somehow in my DNA!

After an interesting 3 months period on board a cargo ship after my Nautical studies time, my working career began after completing a Master's Degree in Maritime and Transport Economics at the University of Genoa.

Over the past two decades, I have worked in various roles across Europe, building expertise in marine insurance, reinsurance, and corporate risk management. I have held leadership roles at prominent organizations, including Swiss Reinsurance, Groupama, Amlin Group, and Scorpio Group, before joining MSC Cruises in Geneva (Switzerland) headquarters in 2021.

Balancing a demanding career with personal life is essential. I find joy in football, sailing, traveling, and spending quality time with family and friends, which keeps me grounded and inspired to navigate (I can use only this word!) the complexities of the risk & insurance business.

As Head of Global Insurance, I oversee all insurance matters for the MSC Cruises Group worldwide. This includes developing risk management strategies, optimizing risk retention, and introducing innovative travel insurance solutions to enhance customer satisfaction.

As a marine insurance expert born in Genoa, I like to mention that while Lloyds of London often takes the spotlight, the first recorded marine insurance policy was issued in my hometown of Genoa in 1347.

Yes, Genoa” Long before coffee houses became the meeting rooms of merchants in 17th-century London, we Genoese were already safeguarding trade with contracts that outlined risks and rewards. That said, Lloyds deserves its accolades; from its humble beginnings in a coffee shop to its position as a global insurance hub, it has carried the torch of innovation and excellence in marine insurance.

Fast forward to today, and marine insurance is a sophisticated, data-driven industry. It’s no longer just about protecting hulls, passengers, and cargo; it’s about enabling global trade (over 80% of global trade by volume is carried by sea) and large exposures as for a cruise ship.

Imagine a world without marine insurance, I cannot see that! Of course, the insurance part is one tool to transfer risks, same importance is to look at a more holistic risk management view, with important actions in risk mapping, claims handling, improved operational efficiency and developed sustainable solutions for risk mitigation.

My commitment extends beyond my corporate responsibilities; I am also actively involved in industry organizations, serving as a board member for NorthStandard P&I Club, the Swiss Association of Risk & Insurance Managers, and teaching Marine Insurance at the University in Milan.