TH!NXLetter #6: Enhancing Battery Insurance, New Partner for Leak360, 2nd Leakage Summit Recap, Battery Transports, Parametric Earthquake Insurance

Welcome to the 6th edition of our TH!NXLetter here on LinkedIn. Have we already told you how much we appreciate your support, whether as a subscriber to our newsletter or as a follower on LinkedIn? Your engagement means the world to us.

Your Team from HDI TH!NX

1 - Gore Street Capital Enhances Insurance with ACCURE AI-Based Battery Intelligence

Gore Street Capital has partnered with ACCURE Battery Intelligence and HDI Global SE to enhance insurance conditions for its UK energy storage sites. By integrating ACCURE’s AI-based predictive analytics software, they have improved battery safety and operational efficiency, which enabled HDI to offer a risk-managed approach to assess coverage. HDI TH!NX supported the partnership by building the bridge between the ACCURE solution and HDI Global.

This innovative approach increases transparency and optimizes asset performance, setting a new industry standard for leveraging technology in energy storage to improve insurance terms and safety.

Click here to learn more or watch the webinar above!

2 - Partnership News: Water Management with ease

We are excited to announce a new partnership with ease L?sungsmakler , focused on digitizing water management in the real estate sector.

Our advanced solution, Leak360, is now available to ease’s clients, enhancing their service portfolio with state-of-the-art water management and leakage protection.

This collaboration marks a significant step, offering enhanced protection and value for ease’s customers.

Refer to our LinkedIn Post below for more information.

3 - 2nd German Leakage Summit: A Resounding Success

The second German Leakage Summit, centered on ESG and water management, was a notable success. More than 50 participants discussed modern water management practices and leakage-related topics on the HDI TH!NX IIoT Campus.

Prof. Alexander Rudolphi highlighted water's role in sustainable building practices as well as the DGNB German Sustainable Building Council certification. Maren Schaefer from Ampega showcased the implementation of Leak360 across 120 buildings, simplifying processes. Deep dives by Jan Schodder of Blue Detect GmbH and our very own Christian Endter explored leakage detection and damage prevention, and Raphael Sedlitzky from Deepki discussed sustainable water management regulations. We concluded the event with an award ceremony and networking evening. You’ll find more pictures on the event website.

We are looking forward to the third installment of the series, planned for 2025!

4 - Upcoming Event with TraWeBa: Tackling Battery Transport Risks and Battery Monitoring

Join us on June 25, 2024, for an exciting networking event with TraWeBa and Circular Valley .

Funded by the German government, TraWeBa connects stakeholders in the automotive battery value chain, promoting knowledge-sharing and business opportunities.

The event will focus on transport risks and battery monitoring, featuring insights from HDI Global SE 's Kai Brueggemann and ACCURE Battery Intelligence 's Dr. Kai-Philipp Kairies . Aimed at decision-makers in automotive OEMs and suppliers, this event will foster discussions on the building blocks for the future of mobility.

You can sign up here for the event.

5 - Safehub and Liberty Mutual Re Partner for Innovative Earthquake Insurance

Safehub and Liberty Mutual Reinsurance (LM Re) have announced an exclusive partnership to offer a sensor-based parametric earthquake insurance solution globally.

Building on a successful pilot in Mexico City, this innovative solution uses Safehub’s seismic sensors to provide real-time, building-specific data, enabling precise and rapid payouts. This approach reduces the basis risk compared to traditional data sources (for example via USGS ShakeMap) and supports faster emergency response and business recovery.

Read more here: Safehub Press Release

6 - TH!NXPedia: What Is Parametric Insurance?

Parametric insurance is an innovative risk management tool that pays out benefits based on a predetermined index for loss events, rather than on the actual loss incurred. In industrial contexts, it’s particularly valuable for managing risks related to natural catastrophes, such as hurricanes or earthquakes, where traditional indemnity-based coverage may fall short. For instance, a manufacturing plant could have a parametric policy that triggers a payout if an earthquake of a certain magnitude occurs within a specific radius, ensuring swift financial support without the need for lengthy claims assessment.

The integration of the Internet of Things (IoT) significantly enhances parametric insurance by providing real-time data that can be used to trigger policies more accurately and quickly. IoT sensors deployed across industrial facilities can monitor various parameters like temperature, humidity, or vibration levels. When these parameters exceed predefined thresholds, they can automatically initiate a claim, streamlining the process and potentially mitigating further damage through prompt response.

This synergy between parametric insurance and IoT not only offers more responsive coverage but also encourages preventative measures, as the data collected can help predict and prevent future risks.

7 - TH!NXShorts: Recommendations for Reading, Watching or Listening

Innovating Insurance: Exclusive Insights from World Property and Casualty Insurance Report Show Path to Technological Transformation - to read the full article, click here.