Speciality insurer Tokio Marine has fashioned a partnership with Clir Renewables to supply data-powered danger evaluations for renewables insurance coverage providers in Brazil.

Beneath the partnership, Clir will supply its Threat Survey resolution to assist insurers exactly establish and map venture dangers and spotlight mitigation ways.

The survey resolution may even guarantee transparency of communication between the insurer and the insured social gathering.

Clir will ship the insurer danger quotations and surveys leveraging Tokio Marine’s insurance coverage information and its 200GW of wind and photo voltaic danger information, in addition to AI and technical experience.

It should additionally use data-driven insights to establish catastrophic dangers and develop efficient risk-mitigation measures.

Clir’s broad dataset will help insurers in benchmarking towards an identical property and establish industry-evaluated finest practices for assuaging dangers. 

This may empower Tokio Marine to hold out correct underwriting, assign applicable insurance coverage protection and minimize down general coverage expenditures.

Tokio Marine Seguradora company merchandise govt director Felipe Smith mentioned: “Figuring out, analysing, and figuring out resolve extremely diverse dangers is what makes the distinction within the company insurance coverage market.

“The service ensures that the shopper receives important steering on dangers and finest defend themselves.

“For sure, this partnership with Clir provides us an awesome aggressive benefit in a sector whose demand for insurance coverage is simply persevering with to develop.”

Tokio Marine Seguradora offers insurance coverage for almost 70% of the 32GW photo voltaic and 24 GW wind markets in Brazil.

The corporate’s portfolio contains 50 renewable power tasks within the area, comprising 28 wind farms and 22 photo voltaic crops.

In August 2023, Tokio Marine entered a definitive settlement to divest its US-based subsidiary Tokio Marine Pacific Insurance coverage to Calvo Enterprises.