Know Risk Energy

KnowRisk’s deductible buy-down will address the gaps in cover that locks up IPP capital – enabling the energy transition.

What is KnowRisk Energy?

  • Complements existing cover
  • Applicable to several technologies
  • Will require use of KnowRisk Platform to drive compliance and incentives
  • BI settlement can be by formula
  • Launching in the near term

Who is it for?

  • Independent power producers with limited financial back-up capacity
  • Gaps in cover are locking up capital

Insuring power generation assets is hard and underwriters don’t get nearly enough accurate information to understand individual risks.

Over the past five to eight years, power industry insurance claims have significantly outstripped premiums. This trend highlights a critical vulnerability in the sector, as the costs associated with machine breakdown and forced outages exceed premiums.

Next-gen machinery breakdown and business interruption insurance products are in development and will soon be available in tandem with SAMP’s best-in-class risk management platform.

Machinery breakdown cover with dynamic incentives
  • “Bolt-on” to existing MB cover
  • Platform capability and wording fully developed with Lloyd’s syndicate
Deductible buy-down for machinery breakdown
  • Offered through KnowRisk Energy
  • Utilising SAMP Platform
  • Finalising capacity to launch in near term
Make better decisions

Be empowered with easy to access information that enables better long-term decisions to reward, renew, penalise or cancel power generation policies.

For over 18 years, SAMP Risk’s specialist engineering teams and technologies have dramatically reduced the risk of operating power generation and energy assets worldwide.

SAMP is used by 33 sites globally to manage risk and drive performance
  • >80% reduction in downtime at a thermal baseload plant in 12 months
  • 50% reduction in outage duration at concentrated solar plant
  • Dynamic risk modelling enabling owner management of ~100 wind turbines
Insurers already use SAMP’s data and expertise for best-in-class risk services
  • We conduct ‘traditional’ risk surveys leveraging existing platform data to create data-driven insights
  • Automated quarterly reports flag changes in risk, and recommend interventions
  • An insurer has specified SAMP-enabled risk engineering services as a condition of cover

Book a Meeting

Don’t get left behind without these rapidly evolving next gen insurance products. Book an appointment with one of our experienced technical underwriters to demonstrate the features and benefits of the Know Risk products, underpinned by the SAMP Risk Platform, in person or online.

BOOK MEETING

SAMP Overview Video

Watch our SAMP Overview video which covers the features and benefits of the SAMP platform. The insurance-specific SAMP Risk offering is based on SAMP platform technologies.

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SAMP Tech

Helping teams make good O&M decisions on critical assets.

 

Contact

E-mail:
enquiries@samptechnology.com
Address:
128 City Road, London, EC1V 2NX
Phone:
Alistair Moodie: +44 7391 257094
Andrew Carr: +44 7585 051148

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