The Science of Power

Sciemus have developed a risk analysis tool for machinery breakdown within fossil fuel power stations.

Power Sector

In an area driven by exponential growth and technological change, the need for a clear, consistent quantified measurement of risk is vital for both a plant operator and insurance underwriter. Sciemus Power and our PowerRAT modelling technology is designed to deliver commercial benefits through analytical insight into the power generation sector. This has been accomplished through development of a world leading analytical modelling system, a dedicated in-house engineering team and proprietary data provided by world leading data providers.  

Commercial Benefits

The benefits of all Sciemus models and engineering expertise stem from our ability to bring insight and understanding through analytics to technically complex risks. This translates commercially into an ability to accurately assess the profitability of any given risk or investment in the power sector.

For an Underwriter, Sciemus Power can provide - 

• Pricing: Use a plants overall risk profile as a key indicator for pricing, clearly identifying the minimum margin for a risk
• Deductible Buy-down: Using the PowerRAT risk profile as a comprehensive risk indicator for the sale of deductible buy-down policies
• Competitive Strength: Being able to determine if a risk is being under or over priced by the market based on its overall risk profile
• Exclusionary Terms: Knowing where the specific critical component risks in a power plant lie, and being able to cover them accordingly
• Book Improvement: Ability to select the best and most valuable risks in the market as well as evaluating potentially dangerous renewals
• Regulation: Having a clear, consistent, quantified view on the risks you hold

For other Finance and Investment specialists, Sciemus Power can provide - 

• Profitability: Clear insight into the risk and reward of a particular investment
• Unique Selling Point: Using the analytical expertise of Sciemus Power as a USP to attract clients 
• Portfolio Management: Using PowerRAT to evaluate a portfolio of current investments
• Portfolio Improvement: Using the PowerRAT to target the most undervalued investments on offer

As with Sciemus Space, a bottom up approach to component reliability and the modelled interaction between components give us a detailed insight into the relative reliability of machinery performance. This, coupled with how operators build and manage their plants delivers a global overview of the relative reliability of power station risk.

 

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Sectors          Sciemus Power          PowerRAT Technology          Power Insurance