The demand for green products is growing every year and has now made its way into the insurance world.
Major insurer, Fireman’s Fund Insurance Company, is the first to deliver new options like, “Green Insurance”. The property/casualty and commercial insurer are the innovators of green insurance by rewarding their clients with discounts and special “green” coverages. In recent days, the company announced a new referral partnership with Scientific Conservation Incorporation, also known as SCI.
SCI specializes in commercial building energy efficiency through Predictive Diagnostics and Analytics systems. Their software solutions are promising to identify changes in a buildings energy performance, and predict degradation that may drag on energy sources. By seeing this data before degradation actually occurs, the company can claim their clients will see an immediate savings in energy costs and reduce liability exposure.
As referral partners, the companies will work hand in hand, offering clients energy management services and new products for current and new policyholders. They’ll be able to offer lower rates, reduced fees and lower energy costs to clients.
Stephen Bushnell, Senior Director of Emerging Industries, Fireman’s Fund commented, “By predicting problems well before they occur, our customers can maintain building health continuously on a daily basis. The SCIwatch automated PMM solution could have a significant impact for our policyholders because the process identifies and predicts changes in performance before building and asset degradation occur,”
Fireman’s Fund, a member of the Allianz Group, introduced green insurance to America’s commercial marketplace in 2006. The company then opened their market to homeowners in 2008. Currently, an approximate 1,500 commercial policyholders have the green insurance product.