ASR partners with Asset Performance Partners to enhance energy underwriting

By Ryan Hewlett

June 17 - Pan-African and Middle East-focused (re)insurance group Africa Specialty Risks (ASR) has partnered with Asset Performance Partners (APP) to enhance data insights and risk management in the energy insurance sector.

A graduate of the 2024 Lloyd’s Lab, APP provides real-time operational data on energy assets and actionable insights for operators.

Using performance data and on-site engineers, APP creates algorithms tailored to specific energy sectors, enabling operators to optimise performance and identify potential risks or damage early.

ASR said in a statement on Tuesday that the partnership will enhance its energy underwriting and risk management, including pricing and post-bind client services, ultimately reducing claims and minimising losses.

It will also improve ASR’s data on both traditional and renewable energy, enabling better pricing, deductibles and portfolio composition.

ASR specialises in developing market energy risks, with a particular focus on Africa, across both traditional energy generation and renewables.

Suzan Pardesi, head of energy and deputy active underwriter, ASR said: “By partnering with APP, we can align our insurance solutions with the performance 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.”