ASR partners with Lloyd’s Lab graduate APP to enhance energy underwriting

Developing markets-focused re/insurance group Africa Specialty Risks (ASR) has partnered with Asset Performance Partners (APP), a graduate of the 2024 Lloyd’s Lab, to enhance data insights and risk management in the energy insurance sector.

APP reportedly provides real-time operational data and insights for energy asset operators. By combining performance data with input from on-site engineers, it generates sector-specific algorithms to optimise performance and detect potential issues early.

According to ASR, the partnership will enhance its energy underwriting and risk management, including pricing and post-bind client services, ultimately reducing claims and minimising losses.

“It will also improve ASR’s data on both traditional and renewable energy, enabling better pricing, deductibles, and portfolio composition,” ASR added.

Suzan Pardesi, Head of Energy and Deputy Active Underwriter, ASR, commented, “By partnering with APP, we can align our insurance solutions with the performance of energy assets.

“The real-time data provided by APP will improve our underwriting, pricing, and risk management, offering energy operators a better chance of avoiding claims while improving asset efficiency.”

Andrew Carr, CEO, APP, said, “We’re thrilled to partner with ASR. This collaboration allows us to expand our platform, providing better asset performance for energy operators while delivering improved insurance outcomes.

“ASR’s deep understanding of the energy risk landscape in Africa makes them an ideal partner as we grow our global reach and provide the energy sector with better risk management tools.”

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