Both facilities managers & insurers protect clients from the risk & consequences of asset failures. But historically they have not collaborated closely. The result is that insurers miss out on the risk engineering and risk management the FMs could provide and the FMs are unable to offer fully risk-aware service contracts without an insurer’s capital and actuarial skill.
Using Shepherd’s real-time data, the maintenance service provider and the insurer can co-operate to manage their clients' risks. Using innovative products like parametric insurance all parties are incentivised to reduce breakdowns, unnecessary servicing actions and, ultimately, costs. Shepherd spots potential breakdowns early and monitors assets around the clock to empower FMs, safeguard insurers and reduce business interruptions.
Our adaptable monitoring products drive new revenue opportunities for insurers & facilities managers through data-driven risk management.
We use machine learning and real-time alerting to predict maintenance issues, reduce risks and cut costs.
FMs and insurers are looking to improve customer value and service while also moderating risks. The rise of parametric insurance products (payouts on the occurrence of a triggering event as opposed to the loss incurred from an insured event) provides a market opening for service providers and insurers alike. Shepherd’s provision of data aligns incentives for all parties.
FMs can receive high margin commission revenues while boosting their competitive positions by offering fully comprehensive contracts in which their risk is protected and the customer receives a fixed price, indemnified service with the cost variability stripped out. Insurers can re-engage with sectors through better risk management and keener pricing: protected by engaged service providers using predictive maintenance data to minimise losses. And customers enjoy reduced breakdown risks and immediate business interruption payments.
Connect : Shepherd can be deployed on legacy assets & environments or brand new systems. Using modern long-range (1km) wireless technologies or hard-wired sensor bundles we can easily connect up anything that poses a business risk.
Assess: Our assessment engine builds up a normal operating profile for each asset and environment and detects a wide range of issues before they become serious.
Alert: Assessments are carried out in real time. As soon as a fault is identified an alert with detailed information is sent out via email, SMS, instant message and automated phone calls to an escalating responder list.Find Out More