Predictive Maintenance

Handling machine downtime with Asset Guard

Reduced downtime

Save cost & time

Risk Mitigation​​

Decreased claim ​likelihood

Long-term savings​

Extended lifespan of machines​

Seamless Integration

With existing systems

Problem

The High Costs of Unplanned Machine Downtime

Unplanned downtime of machinery represents a significant challenge, accruing substantial costs for both the insured parties and insurers:

  • Costly Interruptions: When machines unexpectedly fail, it not only halts production but also incurs heavy financial losses due to idle time, emergency repairs, and lost productivity.
  • Data Utilization Gap: Financial institutions and insurers often lack the capability to harness and interpret machine data, missing out on crucial insights that could predict and prevent these costly downtimes.
Solution

Minimizing Downtime with Predictive Maintenance

Data Driven X introduces a proactive solution through predictive maintenance, leveraging advanced analytics and IoT technology:

  • Downtime Reduction: By predicting when a machine is likely to fail, predictive maintenance allows for planned interventions, significantly reducing unexpected downtime.
  • Early Maintenance Activation: With predictive insights, maintenance can be scheduled before problems escalate, ensuring machines run smoothly and reducing the risk of sudden failures.
  • Extended Equipment Lifespan: By addressing issues before they become severe, predictive maintenance contributes to extending the lifespan of equipment. This not only saves on capital expenditures for replacements but also ensures that assets continue to operate at peak efficiency for a more extended period.