Hyperloop Transportation Technologies wants to build a tube-based inter and intra-city transportation system to transport passengers and cargo at high speeds. As part of its efforts to gain support, it sought to assure people that its technology is feasible.
The firm recently collaborated with Munich Re on a risk analysis of Hyperloop’s proposed futuristic transport system.
The good news for Hyperloop is the experts at Munich Re believe the technology is both feasible and insurable.
This is how Hyperloop works: a travel capsule moves through a tube with nearly zero friction and safely up to airplane speeds. The capsule is propelled by a drastic reduction of air in the tube along with magnetic levitation and propulsion. The system is all powered by a combination of alternative energy and energy conservation systems that its designer day will produce as much or more energy than it uses.
Global insurer Munich Re conducted a comprehensive risk analysis of the Hyperloop technology and created the first Hyperloop Transportation Technologies Risk Report. Over the past year, a project team within Munich Re’s Special Enterprise Risks Unit weighed the risks and challenges facing HTT’s Hyperloop technology. They developed risk landscapes to shed light on enterprise and technological risk and to document relevant external and internal influencing variables.
Munich Re concluded that the Hyperloop technology is both feasible and insurable in the medium term and that delivering the system demands a model represented by HTT’s innovative approach.
The risk report forms the foundation for active strategic risk management and, according to company officials, having risk management integrated into its planning will allow HTT to move ahead to other challenges such as the legal framework for its transportation infrastructure and to commence actual construction.
“Offering an insurable system is a massive milestone for this groundbreaking technology,” Dirk Ahlborn, CEO…