Originally posted on JLT Re.
- JLT Re continues to build leading reputation in Insurtech sector
- Partnership will offer new product to the emerging solar industry
SAN FRANCISCO (September 20, 2017) – JLT Re, the global provider of reinsurance broking and consultancy, has partnered with kWh Analytics, the leading data repository and risk management provider in the solar industry, to create a risk transfer product insuring solar energy output. Leveraging their industry-leading database, kWh reduces the overall cost of financing by providing a Solar Revenue Put that reduces the risk of loss for lenders, thereby enabling lenders to reduce debt service coverage ratios for asset owners.
San Francisco-based kWh Analytics worked with JLT Re to secure a preferential relationship with a global, investment grade insurance company to offer a product insuring $100 million of coverage. The relationship will bring liquidity to the growing solar energy industry, which is currently estimated at $500 billion with another $500 billion slated to be completed in the next few years – creating the next $1 trillion asset class.
“kWh Analytics is extremely pleased to bring this unique product to the market and to tie the financial strength of the global insurance industry into the solar asset class. Kudos, our Solar Revenue Put, improves lender terms and reduces the cost of capital for asset owners by guaranteeing up to 95% of solar production with investment-grade balance sheets,” said Richard Matsui, CEO, kWh Analytics. “JLT Re was instrumental in bringing this solution to market, helping kWh Analytics from the beginning of the process through to completion.”
“We are delighted to represent the foremost company in the solar field, especially in an industry that benefits our broader society”, said Ed Hochberg, CEO of JLT Re (North America) Inc.
“kWh Analytics is at the forefront of a wide-ranging trend we see in Insurtech, wherein data companies apply best-in-class data repositories to transform unquantified uncertainty into quantified risk that the insurance industry can then efficiently price,” said Gregg Holtmeier, JLT Re Insurtech Leader.
JLT Re continues to build their leading reputation in Insurtech with this insightful solution. Read JLT Re’s Insurtech Report here.
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NOTES TO EDITORS:
About kWh Analytics
kWh Analytics is the market leader in solar risk management. Founded in 2012, kWh Analytics has built the industry’s largest data repository of solar asset performance, with over 100,000 operating systems, representing nearly 20% of the U.S. market.
HelioStats, kWh’s risk management software, helps solar investors deploy more capital more intelligently by providing data warehousing, analytics, and benchmarking for distributed solar portfolios. Kudos, kWh’s Revenue Put, improves lender terms and reduces the cost of capital for asset owners by guaranteeing up to 95% of the solar production.
Customers such as Google (the world’s largest non-utility investor in renewable energy) and PNC Bank (America’s 5th largest bank) rely on software and insurance solutions from kWh Analytics to enhance their investment returns.
kWh Analytics is backed by private venture capital and the US Department of Energy.
About JLT Re
JLT Re’s trusted team of 700 colleagues worldwide combines market leading expertise and proprietary analytical tools with the freedom to challenge conventions.
Deep specialist knowledge and extensive experience of both the reinsurance market and clients’ own industries and sectors enables JLT Re to ask smarter questions, innovate and deliver better results tailored to meet client needs.
JLT Re is a trading name and logo of various JLT reinsurance broking entities and divisions globally and any services provided to clients by JLT Re may be through one or more of JLT’s regulated businesses.
JLT Re is part of the Jardine Lloyd Thompson Group plc.
About Jardine Lloyd Thompson
Jardine Lloyd Thompson is one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. JLT’s client proposition is built upon its deep specialist knowledge, client advocacy, tailored advice and service excellence.
JLT is quoted on the London Stock Exchange and owns offices in 40 territories with more than 10,600 employees. Supported by the JLT International Network, it offers risk management and employee benefit solutions in 135 countries.
For further information about JLT, please visit our website www.jlt.com.