SCOR has partnered with industrial software company Senseye to develop ROI Lock, a product guarantee that refunds the subscription cost of a Senseye product manufacturers use to detect machinery failures.
ROI Lock will refund customers using Senseye’s Predictive Maintenance (PdM) solutions, Senseye PdM Complete, if they do not achieve full return on investment within 12 months.
Senseye PdM Complete aims to detect potential industrial machinery failures well in advance, thereby avoiding unplanned downtime events and improving the operational efficiency of industrial assets.
“This partnership is an exciting example of SCOR’s support for digital transformation and the expansion of insurability, in line with our “Quantum Leap” strategic plan,” adds Laurent Rousseau, Deputy CEO of SCOR Global P&C.
“Our relationship with Senseye, which is accelerating the use of new technologies within the industrial sector, will deepen our experience with industrial IoT and help us to develop new products that meet the evolving risk needs of our clients.”
Simon Kampa, CEO of Senseye, also commented: “We estimate that more than two-thirds of large industrial organizations are currently evaluating PdM. Although our track record proves that we can save our customers tens of millions of dollars, we know that the initial investment has to be justified.”
“With ROI Lock™ our customers can take advantage of our award-winning PdM solution without incurring financial risk, thanks to our partnership with SCOR.”