SmartBattery: Elevating Risk Management in the BESS Insurance Market.
By building on continuous monitoring, early anomaly detection, and dynamic KPIs like State of Health (SOH) and State of Charge (SOC), SmartBattery helps to optimize performance, reduces risks, and supports data-driven decisions for insurers. Discover how our solution empowers smarter portfolio steering and enhances efficiency.
Predictive Maintenance Integration
AI-driven insights identify and prevent risks like thermal runaway, ensuring safe and reliable BESS operation.
Insurance-Specific Risk Metrics
Tailored algorithms translate battery health data into actionable KPIs for precise risk assessment and better underwriting decisions.
Real-Time Risk Dashboard
An intuitive interface provides continuous, portfolio-wide insights for benchmarking and trend analyses.
Streamlined Claims Handling
Real-time data accelerate claims processes, enhancing accuracy and reducing administrative workload.
Battery energy storage systems (BESS) are crucial for reliable energy supply but encounter challenges like performance degradation, safety risks, and more. SmartBattery leverages AI-driven analytics that proactively monitor these systems, reducing the risk of thermal runaway and enhancing operational efficiency. This strategy adds value for both operators and insurers by optimizing risk assessment and improving insurance terms.
The Challenge
BESS present one of the least understood risks for insurers. Fires are nearly impossible to extinguish, often impacting the environment and disrupting client operations. The lack of real-time insight makes it a significant 'black box' for insurers and brokers, yet the global BESS market is projected to grow 20-fold by 2030.
Our Solution
SmartBattery delivers real-time, AI-based insights into the health and risk potential of each battery. Our solution receives continuously status updates on critical risk indicators for BESS, providing early warning signals to inform underwriting decisions. By integrating dynamic KPIs such as State of Health (SOH) and State of Charge (SOC), we help in portfolio steering, identifying negative trends, benchmarking and renewal preparation.
Your Value
SmartBattery equips insurers and brokers with precise, actionable data, objectifying the risks associated with BESS. With digital protection measures based on predictive analytics, costly business interruptions can be avoided, risk management improved, and better informed decisions made. This enables better protection of clients and achieving a competitive edge in the rapidly growing BESS insurance market.
Our Stakeholders
We work closely with insurers and brokers, to offer energy providers, investors and asset managers the tools and insurance solutions to better assess and mitigate risks and to effectively protect their balance sheet. Together, we create a future where BESS can operate safely, efficiently, and with reduced financial exposure.
Tailored Risk Solutions for Insurers
SmartAsset enables insurers to deliver accurate risk assessments for tailored insurance solutions. Real-time data and predictive analytics help reduce claims, optimize underwriting, and enhance service offerings. Our customers simply know more about their insured BESS portfolio and gain more experience, faster.
Competitive Advantage for Brokers
SmartAsset enables brokers to offer clients innovative risk management and insurance solutions, differentiating their services from competitors. With SmartBattery, brokers can also access better terms from selected insurers, building mutually beneficial strategic partnerships.
Operational Efficiency for Asset Managers
Asset managers benefit from enhanced operational efficiency through early detection of potential failures. This approach reduces downtime and likelihood of claims, lowers operational costs, and secures better insurance terms.
Staying Ahead with Smart Technology
With SmartAsset, insurers and brokers leverage advanced analytics to stay ahead of industry challenges. These solutions minimize risks, support renewable energy growth, and ensure superior service.
