Underwriters play a crucial part in “greening” the economy
01 October 2012 | Magazine Archives FAnews & FAnuus | Features / Profiles | Drew Schnehage, Aquarius Underwriting Managers
Aquarius Underwriting Managers (AUM) is at the forefront of the insurance industry’s efforts to offer green alternatives to consumers. One such initiative is that we offer up to R50000 green building cost cover to our Unique Elite clients for the installation of green building products following a covered loss. Energy efficiency is built into the solution.
Green building products typically include geysers, automatic gate motors and pool pumps. It makes sense for insurers to replace these power hungry devices with energy efficient alternatives at claims settlement stage.
To facilitate such replacements Aquarius has partnered with an industry-leading renewable energies company with a national footprint and its own manufacturing facilities. All of its products are SABS approved, have between five and 10 year warranties and are registered with Eskom for the Solar Water Heating rebate programme.
The "green” of your choice
We believe that our clients should have the freedom of choice in selecting the green alternative which best suits their individual taste and lifestyle. For this reason we offer solar water geysers or heat pumps, or even a combination of both. No other insurer currently offers the replacement of a geyser with a solar alternative at no cost to the insured.
Insured clients who suffer a geyser burst will be able to achieve significant savings in their monthly electricity costs and at the same time contribute to the alleviation of the energy demand on the overburdened national power grid.
Measuring electricity usage
The benefits of our cover do not stop there. Our solar water heating option includes an innovative real-time energy monitoring system, which is a gateway product to "greener” cover. Thanks to significant drops in power consumption the AUM policyholder can begin his or her low-carbon lifestyle journey.
The monitoring system comprises a remote intelligent data device and a smart control portal, suitable for the medium to high income residential market. It improves end-user energy efficiency for both renewable and conventional energy-using devices. The controller makes for convenient and seamless operation of energy devices such as conventional or solar water heating systems.
An efficient feedback system
What is more, the system can monitor, control and data log nearly any type of conventional or renewable energy device. Regardless of installation type, it can measure energy production and use, with an extreme degree of accuracy. It has a variety of analogue, digital and power inputs enabling measurement of all required parameters. These parameters are then used to efficiently control all aspects of the energy system.
The unit uses the cellular network and internet to provide outstanding levels of live data tracking, reporting, monitoring and control. Performance, monitoring and control data is aggregated and uploaded automatically to the user-interface, which provides graphing, analytics, custom tools and controls for the end-user.
Fine-tuning your devices
We use the monitoring system to innovatively track energy usage patterns. At the same time AUM policyholders benefit from access to aggregated and individual energy-use information. They can monitor various energy devices in real-time and make informed and incremental changes to their energy usage behaviour.
Given that the installation and operation is intuitive and user-friendly, the system facilitates a large number of applications. End-users can choose to control chosen energy devices via tablets, smartphones or through the web portal. Individual program settings are also possible.
Prevention rather than cure
Another plus is the flood alert and leak detection functionality. The system can be used to prevent collateral damage in the event of an imminent geyser malfunction, for example. Policyholders have peace of mind that an alert will be sent via the cellular network if the system detects any abnormalities.
Aquarius is heeding the call to conserve the planet’s natural resources. We are encouraging our insured clients to join us in our "green” journey at absolutely no additional or hidden cost. They are our partners as we embark on this critical environmental and socially responsible initiative.
