Senseye ROI Lock®
In partnership with SCOR, the world’s fourth largest reinsurer
In a world-first for industrial and manufacturing companies, Senseye now offers a guarantee to refund the subscription fee if its award-winning Predictive Maintenance (PdM) solution, Senseye PdM Complete, does not achieve a full Return on Investment. The company has partnered with global reinsurer SCOR to co-develop ROI Lock®.
"Over 70% of industrial and manufacturing companies are implementing or planning digital acceleration projects, although at least 55% are in a phase of trying to prove a business case, without having run a project." Robert Russell, CTO, Senseye
The Aerospace, Defense and Transportation industries lead the world in the cultures of safety, maintenance practices, and condition monitoring technologies. Senseye is focused on making the technologies and methodologies developed in these areas easily accessible and scalable for the wider industrial and manufacturing sectors where margins are tighter and ROIs more demanding. Many of these businesses have also been excluded from traditional and expensive solutions. Industry 4.0 and cyber-physical systems have given rise to new maintenance optimization opportunities, but the ROI has sometimes been unclear.
Working with Senseye now significantly reduces operational financial risk associated with the implementation of predictive maintenance, meaning machine reliability and Return on Investment (ROI) linked to a digital transformation project can be a certainty with Senseye ROI Lock®.
Provides industrial companies with a low-risk and scalable digital transformation project focused on Predictive Maintenance. 100% ROI, minimum.
Partnering with the best
ROI Lock® is offered in partnership with SCOR (rated AA- from S&P and Fitch), the world’s fourth largest reinsurer.
Co-developed with SCOR
Over years of working with top global Fortune 500 companies, Senseye has consistently demonstrated significant reductions in unplanned downtime, with hundreds of millions of dollars of confirmed savings.
This attracted the attention of SCOR, which wanted to help accelerate the benefits of Industry 4.0 within the manufacturing and industrial sectors.
Inspired by talking with our customers who were able to detail their success stories, SCOR decided to partner with us, and together we are proud to offer Senseye ROI Lock®.
Axora’s ‘Verified for Short Term Payback’ initiative reviewed Senseye’s ROI Lock® profile - specifically, its short-term payback – and it was highlighted as a solution demonstrating hard cost savings that more than offset the cost of purchase and deployment, within a period of 12 months or less. The verification was supported by Axora reviewing multiple real case studies in order to determine authenticity.
They reviewed 3 separate customer case studies, and all achieved impressive paybacks in less than 12 months. In one global steel leader, the customer was able to leverage existing sensors, use their existing staff and reduce unplanned downtime by 20%. This resulted in 10x ROI and payback within 3 months. This payback was initially achieved across 50 assets and has since been expanded to over 1,000 assets.
What’s being said about ROI Lock®
Senseye is proud to be able to offer ROI Lock® to all eligible customers – ensuring that your Predictive Maintenance initiatives are guaranteed success when working with your trusted network.
We applaud Senseye for its pioneering initiative, which has the potential to accelerate the adoption of predictive maintenance worldwide.
It is clear that manufacturing businesses of all sizes can benefit from adopting the right technologies, and this will play a big role in boosting productivity.
This partnership is an exciting example of SCOR’s support for digital transformation and the expansion of insurability, in line with our “Quantum Leap” strategic plan. Our relationship with Senseye, which is accelerating the use of new technologies within the industrial sector, will deepen our experience with industrial IoT and help us to develop new products that meet the evolving risk needs of our clients.
We’re delighted to verify Senseye as part of our ‘Short Term Payback’ initiative. Axora is confident, especially combining with its ROI guarantee, that Senseye can demonstrate strong payback profiles in a range of industries and scenarios.
How does it work?
- As a PdM deployment is started, Senseye will work with you to perform an upfront survey and come to an agreement about the current cost of unplanned downtime.
- As part of the standard operation of Senseye PdM Complete, users receive alerts when the Senseye PdM Attention Index® identifies current or future asset degradation. Following normal workflows, your maintenance professionals will perform any necessary inspection and repair work and record information related to this within your maintenance management system (EAM or CMMS) or directly within Senseye PdM Complete.
- If the avoided unplanned downtime savings achieved after a 12-month period are less than the cost of your Senseye subscription, a full refund will be made.