We’re used to superlatives in the superyacht industry, but it’s not every day that you find yourself at a private event on board a superyacht in the company of fellow superyacht owners, world renowned entrepreneurs, medics and captains of industry, overlooking Miami’s iconic skyline in the golden light of dusk.
The occasion was the launch of The IGY Trident Collective hosted at Yacht Haven Grande Miami at Island Gardens aboard Gene Chaser, the high tech research vessel owned by entrepreneurial genius Dr Jonathan Rothberg on the eve of the inaugural Miami F1 Grand Prix.
Formally announced to the industry on 2 May, The IGY Trident Collective is a first on many levels, a unique membership opportunity for superyacht owners offering a range of exclusive benefits including guaranteed dockage across IGY’s global network of 23 superyacht destinations, member rates across a range of best-in-class service providers and exclusive access to private events around the globe.
The aim of the program is to simplify and enhance the ownership experience but, more than that, The IGY Trident Collective opens the door to an elite community of superyacht owners keen to network and socialise with their peers.
The IGY Trident Collective is a long term ambition of Island Global Capital’s visionary Chairman Andrew Farkas, with IGY Marinas uniquely placed to envisage such a concept and, more importantly, to pull it off. Under the expert stewardship of IGY’s CEO Tom Mukamal, the idea has come full circle and the excitement among the team is palpable. The IGY Trident Collective is, quite literally, poised to revolutionise the experience of superyacht ownership, and this is just the beginning.
“Last night was an important milestone,” said Gili Wojnowich, Regional Director of Operations, IGY Marinas. “Beyond the huge member benefits that each partner brings to the program are the experiences, and last night was an example of what these experiences can be.”
The evening was expertly orchestrated by uber-connected Brett Muney, Managing Director of Axcess Worldwide, who said: “The sky is the limit when it comes to our events. All the luxury brands are talking to the same consumer, so when we create this collective of superyacht owners, we think about the opportunities we have with these luxury brands that will enhance the experience.”
Indeed, exclusivity and scarcity are central themes. “This program is qualitative and quantitative,” said Bert Fowles, IGY’s VP of Marketing. “We're working directly with superyacht owners and no one has ever done this before.”
Seven best-in-class partners have come together to offer a full suite of services with significant member benefits, coordinated centrally to streamline the burden of administration.
This includes guaranteed global dockage, fuel bunkering, proprietary hull insurance, yacht management, crew service training, yacht agency services, captain and crew benefits and comprehensive health and wellness solutions, as well as access to lifestyle experiences and special events akin to the launch.
Crucial to the program is the network and reach of IGY’s portfolio of 23 marinas in all the most desirable superyacht destinations. IGY Trident members are also offered guaranteed dockage and member pricing on marina services, including bunkering via World Fuel Services, with access to a dedicated 24/7 technical team, and optional carbon offset credits.
“Aside from some really interesting technology that captains can access around consumption and spend, World Fuel Services has committed to cost savings all over the world which, eight months ago, may not have mattered,” said Wojnowich. “But now it really matters - we’re talking about saving anywhere from $30,000 - $60,000 when crossing the Atlantic Ocean.”
Management services including financial administration, crew management, and technical yacht support will be provided by IGY’s leading yacht management platform Fairport Yacht Support, with preferential rates for IGY Trident members.
“Our mission is to ensure owners are enjoying their yacht to the fullest by reducing the burden on owners as well as captains and crew, so they can focus on what they do best which is running the yacht and looking after the owner and their guests,” said Fairport CEO Graeme Lord. “Managing all of these services under one roof, with group buying power, is totally unique to Trident and dramatically enhances the yacht ownership experience.”
Traditional approaches to hull insurance have also been left behind. Tom Mukamal explains: “Together with Navium, we set out to build something that doesn't exist, a customized insurance program that offers the owners profit sharing and a small claims sum to allow de minimis losses to be settled quickly, where coverage terms can be focused on each individual superyacht with discounted pricing. It's only available through this program”.
Members now benefit from exclusive access to Navium’s proprietary hull insurance offering terms that meet or exceed their existing cover, with a profit share, if available, being issued annually across the portfolio.
“I'm really excited, it's an amazing project and a fabulous opportunity,” said Navium CEO Clive Washbourne. “But of course, as insurers, we have a really hard job because all insurance is a promise to pay. Hopefully we don't have accidents but, until you have an accident, you don't know how good we are! At the same time, this is an opportunity for us to learn from other partners precisely where we can add the most value for members.”
Another key partner in the IGY Trident Collective is BWA Yachting which provides global yacht agency and concierge services. “At BWA Yachting we are delighted to be part of the program and we are committed to delivering a series of unique advantages for members.” said Yann Prat, BWA Chief Sales Officer. “We believe every partner adds significant value to the program and we are very excited to be involved.”
Of course, the experience on board is largely down to the crew, and members of the IGY Trident Collective also have access to proprietary service training by the highly acclaimed Forbes Travel Guide. Their best-in-class professional development curriculum is specifically adapted for superyacht crew based on the principles of exceptional service taught at five-star hotels worldwide.
“This is a new community for us, but a really important one,” said Tony Hounshell, Forbes Travel Guide EVP, Finance. “We have clients in over 70 countries all over the world and we’ve trained over 1300 hotels. We’re pretty good at what we do, and I think there are some excellent opportunities when we start talking about what's next.”
Adds Bert Fowles: “There is currently no rating agency for a $100 million yacht; it doesn't exist. Together we are creating a grading system so that if a crew is trained by IGY Trident through Forbes Travel Guide, they can use the Forbes logo as a badge of honour and a quality standard for their charter operations.”
Further kudos comes with VIGILINT providing members of the IGY Trident Collective with a comprehensive health and wellness solution via its industry leading Global MedAssist Program, delivering 24/7, real-time medical consultation, comprehensive care, critical care transport, and access to a Cleveland Clinic specialist.
“We're really honoured to be part of this program, we already provide telemedicine and health protection to our clients as well as medical carriers in combination with Cleveland Clinic to clients worldwide but, to be part of this, this is something excellent,” said Jennifer Belle, Client Relationship Manager at VIGILINT.
Concluding before we headed off to watch the racing courtesy of IGY’s trackside suite at the Miami F1 Grand Prix, Cam Melangton, GM of Yacht Haven Grande Miami, perfectly summed up the mood in the room: “We’ve had a lot of questions and a lot of curiosity around what The IGY Trident Collective is actually about. From the people we have spoken to so far, it’s definitely going to be a game changer.”