Africa Specialty Risks (ASR) has announced a new partnership with Asset Performance Partners (APP) aimed at enhancing data-driven risk management and underwriting capabilities within the energy insurance market.
APP, a participant in the 2024 Lloyd’s Lab program, provides real-time operational data and analytics for energy assets. Its platform integrates live performance data with on-site engineering assessments, enabling the development of sector-specific algorithms.
These tools are used to help energy operators identify inefficiencies and potential damage early in the asset lifecycle.
According to ASR, the partnership will support its energy underwriting strategy by improving the quality of data used in pricing, risk assessment, and post-bind client servicing. The collaboration is also expected to help refine claims forecasting and reduce overall loss ratios.
Enhanced insight into both traditional and renewable energy assets will also allow ASR to refine its use of deductibles, price modeling, and portfolio construction.
ASR’s head of energy and deputy active underwriter, Suzan Pardesi (pictured above), said the partnership enables alignment between insurance coverage and the operational realities 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,” Pardesi said.
APP CEO Andrew Carr said the arrangement supports broader platform adoption and access to the African market.
“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,” Carr said.
ASR focuses on underwriting risks in developing markets, with a particular emphasis on Africa’s energy sector. Its business includes coverage across legacy energy infrastructure and emerging renewable technologies.
In addition to the APP partnership, ASR recently launched an automated digital platform, ASR 24-7, designed to streamline broker access to quotes, binding, and policy management.
The platform initially supports renewable energy and directors and officers (D&O) insurance, with plans to roll out additional product lines including traditional energy, property, political violence, and terrorism.
ASR also leads the Baobab consortium, a Lloyd’s-backed underwriting facility that pools capacity for risk across Africa and the Middle East. The consortium offers up to US$21 million in capacity across energy, political violence, property, and liability lines.
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