Jason Kaminsky, CEO, kWh Analytics
kWh has exciting news to share. This week we are introducing property insurance for renewable energy projects, backed by capacity partner Aspen Insurance. This new product plays a vital role in the company’s mission to power the growth of the clean energy industry - an industry critical to reducing greenhouse gas emissions and ultimately fighting climate change.
Having worked in environmental finance prior to joining kWh, I witnessed first hand the struggles this rapidly growing industry faced securing capital to develop and maintain assets, and recognized the critical role insurance plays in the shift to a decarbonized economy. Although I didn’t go into my career thinking I would end up in insurance, insurance solves problems, and this is why we transformed kWh from a data company into an insurance provider. I’m honored to be a part of a highly experienced team of former renewable energy asset owners, bankers, equipment designers, underwriters, and program managers at kWh, all deeply committed to making a change - a team that knows renewable energy assets better than anyone and holds deep relationships with market actors across the value chain.
I was recently asked if our company is an insurtech. After braving the floor of Insurtech Connect in Las Vegas this year, I can confidently say “yes.” We are using data to improve underwriting and solve big problems. As the custodians of the largest proprietary database of solar asset performance, kWh analyzes loss data from $50B of exposed assets to provide insights into risk management and selection. This database allows us to take a novel approach to pricing, managing, and ultimately mitigating the new risks.
However, we are not “new” – we’ve been at this for ten years. Our first product, the Solar Revenue Put, now insures over $4 billion in projects. Our new property offering is a natural extension of this platform. Using our database to bring new sophistication to the assessment of property risk and exposures for renewable assets, our property insurance introduces much-needed capacity to a rapidly growing industry at a time when traditional carriers are pulling back.
I am grateful and humbled to work with an experienced, mission-driven team at the forefront of innovation in an emerging industry. And I remain firm in my commitment to uphold the company’s mission to fight climate change through underwriting products that enable the financing of renewable assets.
Sincerely,
Jason Kaminsky, CEO
kWh Analytics