BESS – storing energy locally to ensure secure supplies

Battery energy storage systems, or BESS, are becoming moreand more important as a way of storing the electricity generatedby wind farms and photovoltaic plants. BESS are generallyinstalled in containers near the renewable energygenerationsystems. They are needed to balance power gridsand smooth variations in supply during less sunny and lesswindy periods, and hence make a real contribution to theshift to green energy. Insurance products can help by providingcover for this critical infrastructure against fire or outages.

Industrial Lines already insures BESS in a number of countriesaround the world. In addition to providing insurancecover, the Group offers customers the opportunity of workingtogether with software supplier Accure. Accure’s analysissoftware uses defined KPIs to generate business intelligencefrom battery data. It acts as an early warning system for incipientproblems with the BESS, allowing risk mitigationmeasures to be taken.

This offering, which is in line with Industrial Lines’ vision ofbeing a “partner in transformation”, allows the Talanx Groupto provide customers with a twofold benefit: comprehensiveinsurance cover plus a powerful risk management solutionthat enables them to operate their energy storage systemssafely and efficiently.