Risk Solutions
Direct HSB contractual arrangements enhance an OEM’s service offering.
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HSB offers a new generation of customized products enabling OEMs and Digital Solutions partners to financially bolster guarantees to their clients if and when a failure might occur, especially when the equipment is connected and monitored remotely.
Risk Solutions allow our partners to further support the protections embedded in their guarantees/warranties against underperformance or failure of physical assets. Simply stated: Our Risk Solutions give our partners financial support for performance-based warranties.
The ability to build enhanced “peace of mind” into the product offering itself becomes a compelling selling point and enhances competitiveness.
The OEMs and Digital Solutions partners we work with address a wide variety of needs and sectors (for example: machine and process health, operational resiliency, and water-intelligence systems) and, in most cases, have specific nuanced needs. By collaborating with our partners, we are able to craft Risk Solutions that are focused and effective in providing a market differentiator for the guarantees / warranties offered by the OEMs.
A blueprint: Miura America
Miura America is the leading manufacturer of the high-efficiency modular steam boilers used in commercial and industrial operations.
HSB specifically supports the warranties that accompany Miura boilers in environments - notably hospitals and large commercial facilities - that require built-in redundancy (i.e., multiple boilers providing duplicative capacity in the event of equipment failure or other covered events). The Miura warranty guarantees specified outputs and compensates facility owners should those outputs not be met due to equipment issues; it also covers losses due to interrupted operations, even (if indicated) the rapid deployment of backup boilers.
HSB’s involvement is the crucial enabler of Miura’s warranty. It provides Miura with the financial security and confidence to retain existing customers and assertively attract new ones, as well as pioneering innovative business models (like steam-as-a-service) with the potential for new revenue streams.
A blueprint: WINT
HSB has been working with WINT, a leading water intelligence company in the construction space, to support its dynamic, tiered warranty offering.
WINT is a pivotal player in helping new construction projects mitigate the expenses and delays that result from water losses. The WINT system, connected to a new building’s piping, monitors water flow and helps establish baselines and deviations in water performance. When abnormalities are detected, they trigger alerts to the customer. WINT’s monitoring system grows with the construction project: As building progresses, more monitoring points are added.
HSB’s backing of WINT’s performance warranty, which is based on thresholds related to gallons-per-minute and water volume relative to pipe-size, helps to reduce the insurance deductibles that builders and developers have to pay. The warranty provides assurance that there will be compensation should the WINT system not perform up to expectations.