Hyperview partners with Novem Digital to boost risk management

Hyperview has announced a strategic partnership with Novem Digital to enhance risk management for property owners and insurers.

This collaboration aims to leverage Hyperview's cloud-based data centre infrastructure management (DCIM) platform with Novem's expertise in digital risk management.

The integration between Hyperview's platform and Novem Digital's services will offer a comprehensive software solution, designed to improve risk assessment and facilitate informed insurance decisions. The initiative targets improved real estate and construction outcomes, including more effective capital planning.

For the insurance industry, this partnership introduces a significant shift in how risk assessment and pricing are conducted. By providing real-time data and fostering collaboration, the new system aids insurers in better handling risks associated with natural catastrophes, cyber threats, and system failures. This makes the risk management process more transparent and accurate, promoting long-term relationships and sustainability within the built environment.

Hyperview and Novem are developing a software add-on named "Property Risk Management by Novem." This addition will enhance the existing Hyperview platform with a suite of features specifically tailored for the built environment, including risk management, capital planning, and predictive analytics.

Jad Jebara, President and CEO of Hyperview, said, "We're excited to partner with Novem Digital to enhance our SaaS offering. Our goal has always been to create a versatile digital infrastructure management platform. After successfully focusing on data centres, we're now ready to expand our proven technology to the broader real estate and insurance sectors."

Echoing this sentiment, Clint Undseth, CEO of Novem Digital, stated, "Our partnership with Hyperview is a major step in enhancing risk management for the built environment. This collaboration offers boards and executives critical insights into strategic and operational risks. Integrating Hyperview's platform with Novem's expertise in harmonising real-time and historical building data is a game changer that enhances our customers' operations and asset value."

Scott Ewing, Risk Consulting Head of the Americas for AXA XL, highlighted the rising concerns surrounding natural catastrophes, cyber threats, and system failures in the insurance industry. "Incidents like electrical arc flashes and water damage are rising sharply," Mr. Ewing noted. "This innovative platform enhances risk assessment and helps our clients identify cost savings and sustainability opportunities. By leveraging data-driven insights, we can offer 24/7 virtual risk engineering services."

The partnership emphasises moving away from the traditional twelve-month transaction cycle towards cultivating long-term relationships. The Property Risk Management add-on will provide several key benefits, including cost reduction, better capital planning, informed decision-making, enhanced risk management, and improved sustainability.

The cost reduction will come from streamlined operations and data insights, helping stakeholders identify areas for cost savings and more efficient asset management. For capital planning, predictive operational data can be correlated with historical fault data to enable better asset lifecycle management. The predictive analytics feature will empower real estate and insurance professionals with data-driven decision-making tools, ensuring accurate alignment between pricing and risk profiles.

The integration of Hyperview's platform with Novem's data analytics capabilities will deliver comprehensive risk assessment tools, improving transparency and accuracy in identifying property and climate-related risks. Additionally, the partnership will foster sustainability by promoting eco-friendly practices among property owners and insurers, enhancing the environmental performance of buildings.