Offshore wind farms are expected to grow exponentially in the next 10 to 20 years, yet in regions such as US, Taiwan, and Japan they are prone to natural disasters such as Earthquakes and Hurricanes. Renew Risk, provide risk modelling and analytics solutions for renewable energy assets such as offshore windfarms. Their risk modelling solution is aimed at insurers, (re)insurers, and insurance brokers that allows them to assess the risk and damage caused by these natural disasters on these billion-dollar assets deployed in the deep sea and so help make effective financial decisions.
As the CEO of Renew Risk, Ashima Gupta aims to use the Shott Scale Up Accelerator to enhance her leadership skills in scaling up the business and taking it from 5 clients to 15 and 10 employees to 50. She identifies that: “as we navigate the complexities of growth, the accelerator offers invaluable resources, mentorship, and guidance tailored to my needs”. She sees the networking opportunities with other start-ups enabling connections with like-minded peers, potential collaborators, and investors, expanding Ashima’s professional circle and opening doors to new possibilities.
Renew Risk currently work with three big insurance clients: McGill & Partners, HCC Tokio Marine, and Convex Insurance. They also have strong partnership with Nasdaq where their risk models are platformed and Lloyds of London where they are based.
Over the next 12 months Ashima’s vision for the company is to achieve significant growth and impact in the industry. Key milestones for Renew Risk’s innovation include new product development, securing strategic partnerships, and scaling their customer base.
