SOFIAH NICHOLE SALIVIO

News Editor

SAMP Risk has launched a data-enabled deductible buy-down insurance product for renewable energy sites with Africa Speciality Risks, aimed at smaller power generation assets in the Lloyd’s market.

The insurance technology firm said the product is designed to reduce the revenue site owners must hold in reserve against business interruption losses. Lenders often require operators of smaller renewable energy sites to hold up to 90 days of revenue in reserve, which can amount to millions for a single site.

Its model uses live operational data to support a shorter reserve period. According to SAMP Risk, underwriters can use the platform’s visibility into site performance to cut that period to as little as 30 days, releasing working capital and allowing operators to receive a premium discount.

The launch reflects a broader push in specialist insurance to use live asset data in sectors where underwriting has often relied on periodic inspections and static surveys. Renewable energy assets, particularly smaller sites with limited engineering staff on location, have become a growing focus for insurers seeking more detailed information on operational risk.

How it works

SAMP Risk installs a telematics device at a power generation site to collect machine data continuously. The platform combines that feed with inspection records, oil analysis, site actions and operator behaviour, then applies machine learning models and risk algorithms to produce a live risk score.

That score determines whether a policyholder qualifies for a monthly premium discount. SAMP Risk said the approach links insurance pricing more directly to risk management activity at the site.

Six months into its first live policy, covering a solar energy site placed with Africa Speciality Risks, SAMP Risk said the insured site had already earned back thousands of pounds in premium. It also reported a sharp increase in the owner’s ability to document significant production loss events, rising from 6% to 67% over the period.

Other reported changes included half of all risk recommendations being closed early rather than deferred to renewal. Targeted inspections and other technical mitigations also reduced the risk of major failure by 14% by the fourth month, according to SAMP Risk.

Market shift

SAMP Risk is a digital subsidiary of Asset Performance Partners, a power generation consultancy with 19 years of experience advising energy sites. It said that engineering background informed the risk models behind the insurance product.

“The knowledge we have gained in energy consulting over the past 19 years underpins the risk models built into the platform. By combining engineering intelligence with insurance workflows, we give underwriters and brokers the visibility they need to write this business with confidence and to manage their exposure more effectively over the long term. The deductible buy-down product is evidence of the strength of our platform and the opportunities it offers brokers, MGAs and insurers serving the energy sector in the London market,” said Alistair Moodie, Chief Product Officer, SAMP Risk.

Moodie also set out the case for brokers, managing general agents and insurers.

“For brokers and MGAs, the platform creates a tangible competitive advantage. It enables them to present underwriters with detailed, independently verified, real-time asset data. This puts them in a better position to secure favourable terms and build deeper relationships with the underwriting community. For insurers, the ability to monitor asset condition, benchmark performance and track trends across a portfolio of power generation sites over time supports more disciplined underwriting and stronger loss ratios,” said Moodie.

Africa Speciality Risks is the managing general agent working with SAMP Risk on the launch. The firms are targeting renewable energy operators that want to reduce capital tied up in reserve requirements while giving insurers more frequent information about site conditions.

“By partnering with SAMP Risk, we can align our insurance solutions with the performance of energy assets. The real-time data provided by SAMP Risk is improving our underwriting, pricing and risk management, offering energy operators a better chance of avoiding claims while improving asset efficiency,” said Suzan Pardesi of Africa Speciality Risks.

SAMP Risk said its platform is already embedded as a named condition on five standard machinery breakdown and business interruption policy slips in the Lloyd’s market. It also said the number of smaller renewable energy sites, typically in the 10MW to 300MW range, is expected to double over the next five years.

Those assets differ from larger conventional power stations because they often operate without extensive engineering teams on site. That makes remote, continuous oversight more important for owners, lenders and insurers assessing operational risk.

SAMP Risk said operators are using the platform directly to manage risk in real time across those sites.