Iron Grid

What do they actually do

Iron Grid provides performance insurance for batteries, with an initial focus on grid-scale energy storage. They ingest live telemetry from deployed systems and run physics-informed models, augmented by machine learning, to forecast degradation and price risk at the asset level. That output is used to structure and underwrite performance coverage for batteries today [Iron Grid site; YC page](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).

Operationally, they function as an insurance services entity licensed in multiple U.S. states and can underwrite or broker coverage with carriers depending on the customer and use case About page. Public materials don’t list named customers or traction metrics; the core workflow is data sharing (telemetry), risk modeling, and policy/pricing review or placement [Iron Grid site; YC page](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).

Who are their target customer(s)

• Grid-scale battery operators: Operators must meet performance guarantees to earn revenue but can’t reliably predict degradation from spec sheets alone. Underperformance leads to penalties or lost income; they need underwriting tied to real operating data [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).
• Renewable project developers and financiers: To close financing or PPAs for solar+storage, they need firm, bankable guarantees. Conventional insurance and generic failure models are often too blunt or expensive; asset-level, telemetry-based risk assessment reduces uncertainty [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).
• Hardware founders and manufacturers (batteries, inverters, robotics): New hardware lacks long-run field data, so underwriters price conservatively or decline coverage. They need physics-based models fed by device telemetry to obtain practical, affordable insurance early [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).
• Utilities and grid asset owners: Utilities rely on storage for reliability and grid services; unexpected degradation creates operational and regulatory risk. Existing insurance rarely adjusts to live performance, so continuous, usage-aware pricing is needed [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).
• Insurers and brokers covering novel hardware: Carriers and brokers want to insure new energy/robotics equipment but lack asset-level data and models. They need telemetry and technical underwriting to move beyond manual, conservative pricing [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).

How would they acquire their first 10, 50, and 100 customers

• First 10: Run a few paid pilots with large battery operators and early renewable developers, offering discounted coverage for full telemetry access and co-signed case studies; use YC/founder networks and existing licenses to shorten procurement [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).
• First 50: Bundle underwriting through EPCs, asset managers, and lenders so Iron Grid is included in bids and diligence; standardize data onboarding and publish anonymized results to reduce buyer friction [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).
• First 100: Embed automated underwriting in OEM monitoring platforms and procurement flows; offer the modeling/telemetry stack to carriers/brokers as a white-label technical underwriting product while automating pricing, issuance, and claims triggers [Iron Grid; YC](https://getirongrid.com/; https://www.ycombinator.com/companies/iron-grid).

What is the rough total addressable market

Top-down context:

Near-term TAM for performance insurance on grid-scale batteries is roughly $0.18B–$1.08B in annual premiums, with a mid case near ~$0.5B/year, based on a global installed base in the hundreds of GWh and typical system costs and premium rates VisualCapitalist/Rho Motion, NREL ATB, BNEF. Over the long run, expanding to other equipment taps into a multi-trillion-dollar global P&C market Swiss Re.

Bottom-up calculation:

Assume ~300 GWh installed globally, system-level costs of $150–$300/kWh, and annual premiums at 0.4%–1.2% of insured value. That implies an installed asset value of ~$45–$90B and an annual premium pool of ~$0.18B–$1.08B; a mid case (300 GWh × $225/kWh × 0.8%) is ~$.54B/year VisualCapitalist/Rho Motion, NREL ATB, BNEF.

Assumptions:

• Installed base working figure: ~300 GWh of stationary BESS globally (front-of-meter dominant) VisualCapitalist/Rho Motion.
• System-level installed cost range: $150–$300 per kWh (turnkey, not pack-only) NREL ATB, BNEF.
• Annual premium rate: 0.4%–1.2% of insured value, reflecting typical industrial/equipment coverage levels; actual rates vary by scope and terms (assumption based on industry practice).

Who are some of their notable competitors

• Munich Re: A leading reinsurer offering battery storage warranty/performance coverage and technical due diligence. They can underwrite similar risks directly or provide capacity to brokers/operators, overlapping Iron Grid’s target segment.
• TWAICE: Battery analytics and digital-twin platform that forecasts degradation and warranty KPIs from telemetry; its outputs are used for underwriting and claims, competing with Iron Grid’s modeling approach.
• Voltaiq: Enterprise battery intelligence used across R&D, production, and field operations to detect degradation and failures. Provides the asset-level data insurers and operators need, making it an indirect analytics competitor.
• Fluence: An energy storage OEM/operator that bundles hardware, software, and service with bankable performance guarantees (e.g., Dispatchable Energy Guarantee), reducing demand for third‑party performance insurance.
• Aon: Global broker placing renewable and storage insurance and shaping underwriting frameworks for BESS risks; controls access to carrier capacity and could route business to incumbents or build competing solutions.