Aviva and ONYX Insight Partner to Manage Wind Turbine Insurance Risks and Help Extend Asset Life
Aviva’s Global Risk Management Solutions and ONYX Insight, the leading provider of predictive analytics for the global wind industry, have announced a collaboration to give wind asset owners and operators the tools to help reduce operational and insurance risk across the sector and optimise asset lifecycles.
Enhancing and maintaining turbine performance is one of the dominant operational costs owners and operators face throughout an asset’s life expectancy. For those without access to accurate performance data and whole turbine condition monitoring across their fleet, these expenditures are exacerbated by reactive risk management strategies and increased exposure to events requiring unplanned and costly maintenance.
To enable Aviva customers to take a proactive approach to turbine maintenance, Aviva and ONYX Insight have launched a pilot partnership that incentivises the adoption of ONYX Insight’s engineering-grade, AI-driven predictive analytics. Together with Aviva’s expertise in risk management, this partnership aims to help asset owners mitigate downtime, manage O&M risk, and protect long-term asset value, while aligning operational performance with insurance requirements.
Alexis Grenon, CEO of ONYX Insight, said: “We are delighted to partner with Aviva on this project and are excited to work with its policyholders to help reduce risk across the whole turbine and project lifecycle, from early operation through to later-stage optimisation and life extension. Our advanced failure detection can identify issues up to two years in advance of a potential loss event, giving wind asset owners and operators comfort, and allowing them to take a truly front-footed approach to managing risk and optimising their maintenance plans.”
Chris Andrews, Director of Aviva Global Risk Management Solutions, said: “There is increasing pressure on insurers and wind asset owners to enhance resilience strategies as the industry grapples with ageing fleets and an uptick in serial defects. We support clients by helping them to identify, evaluate, and quantify risk to build sustainable industry growth.”
“Wider uptake of data and analytics can provide more insight into turbine condition, strengthen underwriting, and deliver better risk management practices, helping to prevent unplanned downtime and unexpected costs.”
As the energy transition accelerates, the importance of managing ageing turbines to maximise their operational lifespan in established markets, while making sure new turbine models achieve commercial maturity, continues to grow. Breakthroughs in turbine monitoring technologies and actionable AI insights mean that the sector has the tools to confront its risk exposure more effectively.
ONYX Insight applies machine-learning models to one of the wind industry’s largest failure datasets, drawing on over 15 years of historic data to provide early visibility of emerging turbine issues and help to reduce the likelihood of high-severity losses. The packages on offer include:
- Retrofit condition monitoring systems (CMS) for drivetrains, blades, towers, and foundations
- End of warranty health assessments
- Condition monitoring services
- Advanced SCADA and fleet analytics
- Dynamic remaining useful life modelling
- OPEX forecasting
- Root cause analysis
- Main bearing life extension
Aviva and ONYX Insight’s partnership paves the way for further industry collaboration and greater data-sharing – two strategies that are increasingly critical to establishing operational excellence and a sustainable and prosperous future for the market.
ONYX Insight | https://onyxinsight.com/