Use cases

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Loss Control and Risk Engineering

CHALLENGE

  • Aged units combined with a lack of maintenance management programs cause avoidable machinery breakdown claims

Odin 4.0´s solution

  • A risk score for critical assets that is based on remote data driven equipment inspections indicating equipment health in a resource friendly way

Benefit

Assist policyholders in developing equipment monitoring program through

  • Optimizing inspection frequency

  • Providing actionable recommendation on impending breakdown risks

  • Reduce claim losses and lower budgeted premium for policyholders

  • Benchmark critical assets of your policyholders

 
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Operations and Maintenance

CHALLENGE

  • Current predictive maintenance solutions provide many alarms based on static bands. Further, current solutions are expensive and require extra personel

Odin 4.0´s solution

  • Cost effective failure prediction program combining domain expertise & data analytics

  • Odin 4.0 framework to align engineering & data analytics expertise to provide better solutions

  • Build up failure mode database

Benefit

  • Reduce breakdowns and business interruptions

  • Improve planning & scheduling of maintenance activities

  • Save on capital spending by deferring the investment costs while minimizing risks. Instead of spending millions on early replacemenets, implement retirement for cause strategy

 
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Project finance

CHALLENGE

  • Evaluation of degradation profile of asset for price negotiation

  • Missing or limited data available for remaining life calculations

Odin 4.0´s solution

  • Support stakeholder in calculation of remaining life and current equipment health

  • Remote and cost effective assessment of critical components

Benefit

Improving deal quality through

  • Improved financial modelling accuracy supported by better information

  • better negotiation power based on historical data

  • Aligned asset mission, maintenance strategy and payback schedules