HDI TH!NX, a HDI Group software company for innovative risk management solutions, is partnering with Turbit, a global leader in AI monitoring infrastructure for wind turbines, to reduce their operation and maintenance risks. This partnership enables transparency for the operator in an environment dominated by OEMs. It also provides insurance companies such as HDI Global with more up-to-date, precise and comprehensive technical risk information.
This information not only allows maintenance intervals to be optimized and unplanned downtime to be prevented, but also enables insurers to offer smart policies for operators. The first customers are already on board and are actively using this AI-based insurance. The official presentation of the partnership will take place on November 8, 2023 as part of the Spreewindtage in Potsdam.
“This partnership manifests our vision of supporting the economy in its sustainable transformation. We are supporting the structural change in the energy industry and are now enabling tailor-made insurance products for optimal risk transfer. We are very proud to be significantly advancing innovative solutions that not only improve the economics of wind turbines, but also offer benefits for the insurance industry.”
Dr. Verena Brenner
Managing Director of HDI TH!NX
The combination of Turbit's AI monitoring software and the risk management dashboard from HDI TH!NX based on it offers numerous advantages, especially for wind power operators and insurance companies.
1. Predictive Maintenance:
Turbit's software continuously analyzes wind turbine operating data and can identify potential problems months in advance before they occur and lead to unplanned shutdowns. This enables predictive maintenance where work can be carried out in a targeted and efficient manner to prevent unplanned downtime and increase energy production. This service also benefits service providers, as personnel can be deployed more specifically to the systems.
“This approach has enormous potential for operators – not only for our customers in Germany, but also for international ones. Together with HDI TH!NX we can leverage strong synergies: We combine the competencies of risk coverage on the insurance side with the interest of risk prevention on the part of operators through the use of Turbit. Thanks to Turbit's intelligence, operators can actively increase availability and at the same time meet insurance companies' requirements to preventively manage risks.
Chief Commercial Officer of Turbit
2. Transparency for insurers:
The cooperation offers increased transparency about the insured risks through the risk management dashboard developed by HDI TH!NX with daily risk KPIs.
3. Optimized insurance coverage:
This enables a more precise risk assessment of the asset and thus the offer of the optimal insurance cover for wind farm operators. It also makes it possible to develop targeted products to meet the needs of policyholders.
“We see ourselves as partners in the transformation of our customers. We want to support companies with holistic risk management beyond the event of a loss. Through targeted prevention, damage or failure can be minimized or even prevented entirely. Against this background, the cooperation between HDI TH!NX and Turbit fits our positioning perfectly.”
Dr. Barbara Klimaszewski-Blettner
Managing Director of HDI Global in Germany
About HDI TH!NX
HDI TH!NX is a leading company in the development of IIoT-based risk management solutions. The combination of industrial insurance expertise and cutting-edge technology makes HDI TH!NX a unique provider for the finance industry and the industrial sector. HDI TH!NX's solutions increase the resilience of companies and enable objective decision-making in risk management.
Turbit develops AI monitoring for wind turbines, allowing owners to react as early as possible to abnormal behavior of wind turbines. With Turbit, owners can prevent failures of major components or unnoticed performance anomalies. They plan repairs months before a failure and monitor the success of the repair with Turbit. Through customer feedback, the Turbit AI is constantly improved.
About HDI Global SE (HDI)
HDI Global SE (HDI) as an industrial insurer meets the need for tailored insurance solutions for medium-sized businesses, industrial companies, and corporations. The company, with a prominent presence in the German and European market, has access to its own worldwide HDI Global Network, which enables activities in more than 175 countries through foreign branches, subsidiaries, and sister companies as well as network partners. This allows HDI to serve clients with multinational business with customized policies that ensure worldwide compliance.
HDI Global SE belongs to the industrial insurance division of the Talanx Group and has been a leading insurer for several decades. The division achieved an insurance turnover (gross) of approximately EUR 8.2 billion (according to IFRS 17) in the year 2022 with about 4,500 employees.
The rating agency Standard & Poor's rates the financial strength of the Talanx primary insurance group as A+/stable (strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX.