The Science of Wind

Scientifically evaluating risks to wind farms is beyond the current capability of the insurance and finance markets. Sciemus Wind and our WindRAT modelling technology is designed to bring technical analysis to the rapidly growing wind energy sector through the collection and quantified analytics of proprietary data and engineering expertise.

Wind Energy Sector

Wind energy has become a significant player in the EU and US energy strategy for dealing with the rising electricity demands of the modern world. With over 280 wind farms in operation and UK in 2010, wind farms are currently producing over 5,000 Mega Watts of electricity to the UK grid alone. However, wind farm reliability can very dramatically based on factors such as the physical equipment in use, the maintenance processes employed and the suitability of equipment to its operating environment. Trying to scientifically quantifying this risk of wind farm operation has yet to be tackled by actuarial or engineering specialists, where a high level approach is either used to offer continuous coverage to a construction policy that has been operationalised, or cover diverse power generation portfolios alongside traditional fossil fuel generating assets. 

Commercial Benefits

The benefits of a all Sciemus models and engineering expertise stem from our ability to bring insight through analytics to technically complex risks. This translates commercially into an ability to accurately access the profitability of any given risk.

For an underwriter, Sciemus Wind can provide:

• Pricing: Use a turbines or wind farms overall risk profile as a key indicator for pricing, clearly identifying the minimum pricing for a risk
• 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 wind farm 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

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Sectors          Sciemus Wind          WindRAT Technology