SCOR partners with Senseye to develop ROI LOCK
ROI LOCKTM protects manufacturers’ investments in predictive maintenance technology
Developed jointly by SCOR and Senseye, a leading industrial software company, ROI LockTM is a product guarantee that refunds the subscription cost of Senseye’s award-winning Predictive Maintenance (PdM) solution - Senseye PdM Complete - if its customers do not achieve full return on investment within 12 months. Senseye PdM Complete is used by manufacturers to detect potential industrial machinery failures well in advance, thereby avoiding unplanned downtime events and improving the operational efficiency of their industrial assets.
“We estimate that more than two-thirds of large industrial organizations are currently evaluating PdM. Although our track record proves that we can save our customers tens of millions of dollars, we know that the initial investment has to be justified,” adds Simon Kampa, CEO of Senseye. “With ROI Lock™ our customers can take advantage of our award-winning PdM solution without incurring financial risk, thanks to our partnership with SCOR.”
By helping to manage the potential financial risks associated with using new PdM technology, this partnership between SCOR and Senseye is accelerating the benefits of Industry 4.0 for manufacturers.
“This partnership is an exciting example of SCOR’s support for digital transformation and the expansion of insurability, in line with our “Quantum Leap” strategic plan,” adds Laurent Rousseau, Deputy CEO of SCOR Global P&C. “Our relationship with Senseye, which is accelerating the use of new technologies within the industrial sector, will deepen our experience with industrial IoT and help us to develop new products that meet the evolving risk needs of our clients.”
Senseye PdM is used by a growing number of industrial organizations, including top Fortune 500 companies, to monitor and predict the condition of their industrial machinery assets automatically, at scale and in real-time. By using the software, organizations across a range of sectors have halved levels of unplanned downtime, streamlined spare parts inventories, and cut maintenance costs by up to 40 per cent.
Senseye, headquartered in the UK with regional offices in Germany, France, USA, and Japan is the leading global industrial software company for Asset Performance Management. Senseye helps global Fortune 500 organizations to save millions of dollars in unplanned downtime and maintenance efficiencies every week in key industries such as Automotive, Manufacturing, Heavy Industry and FMCG.