In the highly complex energy insurance industry, information about risks can be time-consuming, costly to obtain, and fraught with inaccuracies.
Without access to broad industry data, energy insurers have traditionally based underwriting decisions on their proprietary data and expertise. But with energy insurance products becoming increasingly commoditized and the underwriting knowledge and experience gap widening, deciding which risks to insure and properly balancing your portfolio to meet your company objectives is becoming harder than ever.
Research, assess, and underwrite complex energy risks
EPIX is comprised of three modules that reflect how underwriters look at risks and navigate through information.
EPIX Asset, the platform’s core application, offers asset and production data for hundreds of companies, including oil fields, refineries, and power plants. Insurers can map energy facilities for different companies, compare risks, and share insights with visualizations of key market data.
EPIX Portfolio lets insurers zoom out to see the interconnectivity of assets. Insurers can view exposures to natural catastrophes and supply chain risks, compare existing portfolios to other global risks, and help determine if they have the right balance of energy risks in their book of business—and from there plan a strategy for profitable growth.
EPIX Experience is a proprietary database of critical events involving 10,000 energy assets around the world, including regulatory violations, man-made events, natural catastrophes, and terrorist acts. Insurers can see the frequency of these events for offshore oil platforms and refineries worldwide and benchmark that information against broader industry data.