An HDI Global technology business has entered into a cooperative arrangement with Accure to make battery reliability insurable for businesses.

Accure Battery Intelligence provides monitoring data on the safety and status of batteries, including whether they are new or have been in use for some time, providing greater clarity on the risks.

The data is examined from a risk assessment and transparency perspective by HDI TH!NX, which focuses on co-innovation with industrial companies in the field of the Internet of Things (IoT), and HDI Global can use the data to optimise cover against property damage and business interruption.

“The data provided by Accure not only creates transparency in assessing the condition of the batteries, but also mitigates the risk of future performance losses, breakdowns and fire damage,” HDI TH!NX MD Verena Brenner says.

HDI says the energy transition, sustainable resource use and environmental, social and governance requirements are exponentially increasing battery storage demand, and it’s now used in many key industries. But if unexpected failures or power losses happen there are often high costs and loss of revenue.

“By working with HDI TH!NX, we are bringing battery asset management together with risk management,” Accure CEO Kai-Philipp Kairies says.

“The insurance customers benefit twice. Basically, the reliability and availability of the battery storage increases. In addition, they can plan their maintenance and repair work based on our analysis and receive tailored insurance conditions.”