In the present study, investigations have been carried out by choosing the nano-sized ATH (30 -50 nm) particles as filler content in silicone rubber to acquire a deep insight to understand the use of nano ATH fillers in silicone rubber on its performance, to use it as insulation structure as an outdoor insulator. Variation in the surface condition of silicone rubber nanocomposites due to corona aging and the recovery characteristics analysis carried out through contact angle measurement. Nano ATH added in silicone rubber, up to 3 wt% of filler, shows increased dielectric constant with less loss factor. Water droplet-initiated discharges on silicone rubber nano ATH composites under DC voltage measured using UHF technique and the damage caused zone analyzed through AFM studies and by surface potential measurement, which indicates higher surface roughness and increased charge trap depth. It is observed that negative DC voltage has higher CIV followed by positive DC and AC voltage. Laser Induced breakdown studies (LIBS) show a direct correlation between plasma temperature and material surface hardness. Also, on laser shining on the surface of the specimen, its temperature was measured on the backside of the specimen through thermal imaging confirming increased diffusivity of temperature. Laser flash analysis shows a direct correlation between filler content in base polymer and thermal conductivity and diffusivity. Higher storage modulus and activation energies measured from the dynamic mechanical analysis indicate the significance of prepared composites as an excellent mechanical support structure for the power system network.