HDI TH!NX makes battery reliability insurable on the basis of ACCURE analysis data
Hannover | Aachen | Berlin, 15 September 2022
HDI TH!NX as a provider of IoT-based risk management solutions and ACCURE Battery Intelligence as an expert in battery storage monitoring, have entered into a cooperation to increase the financial viability and insurability of battery storage. Based on the analytical data provided by ACCURE, HDI TH!NX translates this data into risk assessment and risk transparency for the insurance company. This enables HDI Global to create optimised offers for customers.
The insurance client also receives access to ACCURE's analysis results. This gives both the insurer and customer an accurate picture of the condition of the battery - whether it is new or has been in use for some time. "The data provided by ACCURE not only creates transparency in assessing the condition of the batteries, but also mitigates the risk of future performance losses, breakdowns and fire damage," says Dr Verena Brenner (photo), Managing Director of HDI TH!NX.
The energy transition, sustainable resource use and ESG requirements are exponentially increasing the demand for battery storage. Battery storage is now used in many key industries. If unexpected failures or power losses occur, this is often associated with high costs and loss of revenue. To minimise these risks and make them calculable, HDI TH!NX offers a tailored software solution.
HDI Global can use this data to optimise insurance cover against property damage and business interruption. This includes also the possibility to provide cover for the risk that a performance commitment is not met.
The ACCURE platform analyses the battery data and generates alerts and notifications, which companies in the mobility and energy sectors as an example, as well as public transport operators can use to act more quickly.
"By working with HDI TH!NX, we are bringing battery asset management together with risk management," explains Dr Kai-Philipp Kairies, CEO of ACCURE. "The insurance customers benefit twice. Basically, the reliability and availability of the battery storage increases. In addition, they can plan their maintenance and repair work based on our analysis and receive tailored insurance conditions." The ACCURE platform determines and forecasts the safety and status of batteries based on operating data. At the same time, the evaluated data is used to optimise system design and battery operation. If irregularities nevertheless occur, the insurance covers both property damage and non-property damage. This means that business models with battery storage systems are covered in several ways, which increases the willingness to invest in this area and thus contributes to accelerating the growth of the market for renewable energies.
"Through the cooperation with ACCURE, HDI Global is happy to provide additional support to our customers as they transition towards a greener future, I am excited that together we have been able to launch this new and necessary combination of technology and insurance," said Claire McDonald (photo), member of the board of HDI Global SE. While HDI Global has been providing insurance for more than hundred years and is active in more than 175 countries, HDI TH!NX focuses on co-innovation with industrial companies in the field of Internet of Things (IoT). Thanks to ACCURE's continuous monitoring, reliable information on the condition of all insured batteries is available for the first time. This information can also be used to investigate the cause of damage. This makes the ACCURE software an essential product for reducing the investment and operating risk for battery storage systems.
About HDI Global SE (HDI)
As an industrial lines insurer, HDI Global SE (HDI) meets the needs of SMEs, industrial companies and corporate customers with insurance solutions that are specifically tailored to their requirements. In addition to HDI's prominent position in the German and broader European market, the company also has operations in more than 175 countries through foreign branch offices, subsidiary and peer companies, and network partners. The company is thus able to offer its customers local policies for their global operations, which ensure that the established service and insurance protection is extended for all covered risks worldwide.
HDI Global SE is a company in the Industrial Lines Division of the Talanx Group. Approximately 4.300 employees in this division generated gross written premiums of approx. EUR 7.6 billion in the year 2021.
The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX.
For media enquiries to HDI Global SE please contact:
Martin Schrader
Tel.: +49 511-3747-2749
E-mail: martin.schrader@hdi.global
About HDI TH!NX
HDI TH!NX is a leader in the development of IIoT-based business models and risk management solutions. The combination of industrial insurance expertise and state-of-the-art technology makes HDI TH!NX a unique provider for the financial and industrial sectors. HDI TH!NX solutions increase the resilience of companies and enable objective decision-making.
More information online:
Contact:
Christian Endter
About ACCURE Battery Intelligence
ACCURE helps companies assess battery risk based on their business model, ensure safety, and maximize battery value. By simplifying the complexity of battery data, the analytics software makes batteries safer, more reliable and sustainable. It combines cutting-edge artificial intelligence and machine learning with expert knowledge of how batteries are used in energy storage systems - from electric sports cars to stationary storage. Today, nearly 100 professionals - such as battery experts and data scientists - work for ACCURE to support customers around the world and optimize the performance of their battery systems, with safety at the forefront.ACCURE Battery Intelligence.
Contact:
Dr. Kai-Philipp Kairies
kp.kairies@accure.net
accure.net
Forward-looking statements
This news release may include forward-looking statements which are based on certain assumptions, expectations and opinions of the management of Talanx AG and HDI Global SE. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s and HDI Global SE’s control, affect our business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG and HDI Global SE may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG and HDI Global SE do not guarantee that the assumptions underlying such forward-looking statements are free from errors nor do Talanx AG and HDI Global SE accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG and HDI Global SE neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.