It’s CU 2.0 Fintech Friday! Today, Chris Otey sits down with James Bowen, co-founder of Energetic Insurance to discuss all things credit union, fintech, and digital innovation.
The mission of Energetic Insurance is simple: they want to unlock solar financing options for unrated or below-investment-grade organizations. Their insurance policy is for asset owners, banks, credit unions, and developers who want coverage for offtake repayment risk as well as lost revenue on projects where there is a default on payment obligations.
Energetic Insurance aims to make it easier for solar and other renewable energies to gain funding. In the case of businesses with no or low-credit ratings, Energetic Insurance analyzes over a hundred years of electrical use data to better contextualize risk.
They’re a great partner for credit unions for two reasons: first, as lenders, credit unions benefit from the risk underwriting done on the part of Energetic Insurance. Energetic Insurance provides a better understanding of an organization’s ability to repay funding for energy projects. Second, both credit unions and Energetic Insurance emphasize the importance of social responsibility in business, so their philosophies align.
If this sounds like an intriguing credit union–fintech partnership, check out the video and Energetic Insurance snapshot below!
Credit Union Fintech Snapshot: Energetic Insurance
Top 3 Problems Solved
- Sustainable energy project financing
- Energy industry risk assessment
- Saving the planet
Energetic Insurance Founder: James Bowen and Jeff McAulay
Energetic Insurance Market Strategy
Community banks and Credit Unions
Credit Union Fintech: Energetic Insurance in the News
Energetic Insurance look to de-risk commercial solar
Energetic Insurance disrupts energy finance cycle
Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.
Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.
If you want to learn more about credit union–fintech partnerships, click here.
