Primary insurers in the US are facing a mounting challenge: escalating business interruption losses. Traditional modeling systems, with a tunnel vision fixed only on the facility, consistently miss the broader risk canvas. This narrow focus leaves insurers exposed to claims and significant financial vulnerability . A majority of the BI risk emanates from “outside-the-fence”, from things like power outages, supply chain disruptions, and employee and customer downtime.
Expand the Risk Perspective with AI:
Moving beyond the limited scope of conventional models, One Concern’s advanced digital twin leverages AI to capture the full spectrum of the physical world's infrastructure and its interconnected web. This multi-dimensional perspective ensures risks are identified long before they escalate into claims.
Translate Complex Risks into Actionable Insights:
By integrating risks from a myriad of data sources and translating them into the universally understood metric of 'time', we provide insurers a clearer picture of potential disruptions. From electric substations to highways, no source of interruption goes unnoticed.
The tangible benefit? A groundbreaking reduction in insurance losses. Through the integration of One Concern’s technology, insurers may see a remarkable 10-30% decrease in losses, navigating the future of insurance with precision and confidence. One Concern’s BI risk score data captures both PDBI (property damage business interruption) and concealed non-damage business interruption risk, or CBI (contingent business interruption), giving (re)insurers a view into the drivers or downtime risk for an insured location or portfolio.