Client Profile

Industry: Specialty Chemical Manufacturing (Solvent-based products)
Location: Dahej Industrial Area, Gujarat
Facility Size: 80,000 sq. ft. across two buildings
Annual Turnover: ₹230 Crore
Previous Insurance Premium: ₹68 Lakhs
RiskMantra Annual Cost: ₹30 Lakhs

Challenges Before RiskMantra

The plant faced high operational and insurable risks due to the nature of flammable and toxic materials:

Poor placement of extinguishers & no sensor-based monitoring
Non-functional hydrants during a mock drill due to stagnant water
Manual SOPs for hazardous material handling
Inadequate earthing records & no lightning protection system audit
Fragmented policies across SFSP, EEI, MBD, and Public Liability
Past claims rejected due to ‘own fault’ and exclusion clauses

RiskMantra 6-Step Implementation & Transformation

Technical walkthrough with safety officers, shift engineers, and finance team
Identified critical loss-prone areas like solvent storage tanks, high voltage panels, and reactor rooms
Analyzed BOM, MSDS sheets, and historical near-miss reports

Asset revaluation using RiskBirbal’s scientific valuation framework
Identified a gross underinsurance gap of ₹22 Cr across fixed assets
Sum Insured updated from ₹75 Cr → ₹97 Cr (across EEI, SFSP, MBD & Business Interruption)

IoT devices were deployed across the plant:

IoT Sensor Installed	Purpose & Benefit
Flame Sensors	Installed above solvent tanks for instant fire alerts
Hydrant Pressure Sensors	Replaced manual checks — ensured water readiness
Extinguisher Motion Sensors	Flagged unauthorized movement or expired extinguishers
Voltage & Heat Sensors	Prevented panel room overheating & arc faults
Chemical Proximity Detectors	Detected unsafe human movement in reactor areas

IoT setup fully localized on client’s closed network — no third-party data visibility
System generated internal alerts, automated SOP escalations within plant team
Evacuation drills improved from 12 mins → 4 mins response window

Merged multiple standalone policies into one Mega Industrial All Risk policy
Successfully negotiated removal of exclusions: spontaneous combustion of solvents, loading/unloading, electronic item depreciation clauses
Negotiated new Business Interruption cover based on actual working capital cycles
Saved ₹8 Lakhs in annual premium, despite higher coverage

Incident: Flash fire in tank farm (July) due to poor grounding during rainfall
IoT system triggered high-voltage spike + detected flame + sounded internal siren
On-ground team controlled fire using adjacent foam lines — avoided spread to nearby tanks
Total Loss Avoided: ₹2.8 Cr (inferred from simulation of full-blown spread)
Insurance claim lodged only for ₹18 Lakhs minor damage, processed within 14 working days
Claim paid in full due to transparent documentation and IoT logs attached

Monthly inspections conducted by RiskBirbal Engineers across:
Compliance reports generated to keep insurers updated and reduce risk loading
Quarterly insurance coverage mapping vs. process changes

Quantified Financial Impact (Year 1)

Benefit Area	Value Realized (₹)
Premium Optimization	₹8,00,000
Claim Maximization & Quick Settlement	₹18,00,000
Underinsurance Avoidance	₹2,20,00,000
Loss Avoidance via IoT + SOP Action	₹65,00,000
Total Financial Benefit	₹3,11,00,000

Cost of RiskMantra: ₹30,00,000
Return on Investment (ROI): >10x

Conclusion

The chemical manufacturing industry is sensitive to small missteps that can result in crores of damage. RiskMantra’s intelligent and engineering-led approach ensured that both insurable and operational risks were pre-empted, monitored, and covered.

RiskMantra didn't just bring better insurance, it engineered resilience — and made ₹30 Lakhs of proactive spend deliver ₹3.11 Cr in savings and protection.