Industries Archive | One Concern

Technical Working Group Letters, 2022

Our technical working group shares their feedback with One Concern’s modeling teams each year through letters. Below, you’ll find the two complete letters provided to our team from our Technical Working Group (TWG) members, reflecting on our Flood Hazard and Seismic & Infrastructure Modeling.

2022 TWG Review of One Concern

Hurricane Idalia 2023 – Evaluation of One Concern Power Digital Twin

MENLO PARK, CALIF. (November 8, 2023) – In the early morning of August 30th, 2023, Hurricane Idalia made landfall in the Big Bend Region of Florida. As the storm migrated northeast, it left behind a trail of flooding and destruction. While a full evaluation of the extent of Idalia’s destruction...

Improve Underwriting Profitability with One Concern’s Business Interruption API

MENLO PARK, CALIF. (August 30, 2023) – Underwriting profitability requires that organizations maintain focus on risk selection, pricing, portfolio management, and policy coverage(s). These components of underwriting success rely on a strong data-driven technology stack and a strategy that harnesses powerful data for informed and quick decision making. Underwriters have...

One Concern Announces Strategic Partnership with Swiss Re to Reveal Nat Cat Business Interruption Risk

MENLO PARK, CALIF. (August 16, 2023) — One Concern, an AI physical risk company, and Swiss Re, a global reinsurance leader, today announced a strategic partnership that will enhance the underwriting and management of nat cat business interruption risk. Under the partnership, One Concern’s Business Interruption Risk Scores and Metrics...

Minimize Supply Chain Disruptions Before an Event Occurs

MENLO PARK, CALIF. (August 8, 2023) – Corporations are facing an increase in supply chain risk from both internal and external factors. Internally, as supply chains become more complex and outsourced, visibility to physical risk has decreased with existing supply chain management (SCM) technologies, especially when considering dependency risk to...

One Concern’s Resilience Modeling: Highlights from ICASP14 Conference

We take great pleasure in announcing that two of One Concern models were recently presented at the 14TH INTERNATIONAL CONFERENCE ON APPLICATION OF STATISTICS AND PROBABILITY IN CIVIL ENGINEERING (ICASP14) conference. This conference focuses on the applications of statistics and probability in civil engineering and is one of the key...

Utilizing One Concern Tools to Facilitate Functional Recovery in Alignment with the Federal Plan

MENLO PARK, CALIF. (July 26, 2023) – In an era marked by escalating natural disasters, the focus of risk mitigation has evolved from mere survival to speedy recovery. The federal government, through the National Earthquake Hazards Reduction Program (NEHRP), underscores this modified approach with a focus on functional recovery of...

Insurers Finally Have a Tool for Capturing Business Interruption Risk

MENLO PARK, CALIF. (July 25, 2023) – Recent natural disasters have and will continue to expose commercial property (re)insurers to significant business interruption (BI) losses. Previously, commercial property (re)insurers priced business interruption risk solely as a function of physical damage to the insured property. Now, for the first time ever,...

One Concern Fills Critical Gap in Property Valuation Models: Impacts of Downtime on Cash Flow

MENLO PARK, CALIF. (July 14, 2023) — Traditional real-estate valuation methods, such as discounted cash flow (DCF) models, do not adequately account for costs associated with catastrophic events and their impact on a property’s net operating income (NOI) over a given time horizon. These DCF models, designed to predict likely...

Hurricane Ian 2022 – Putting our Digital Twin to the Test

MENLO PARK, CALIF. (December 13, 2022) – In a single day, Hurricane Ian became one of the most expensive storms in American history, estimated to have caused over $67 billion in insured damages alone (and extensive uninsured damages). Even a month after the storm, communities across Florida and beyond are only beginning to rebuild and reopen businesses.