One Concern provides a data platform that quantifies physical risks to businesses by utilizing AI and catastrophe modeling to create a digital twin of the physical world. This technology enables financial services, insurance, and real estate sectors to measure and benchmark vulnerabilities to operational disruptions, facilitating informed decision-making amidst climate-related uncertainties.
Funding
$152.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
SHFounders
Product
Problem
Businesses face increasing financial risks due to climate change and natural disasters, but current risk assessment methods rely on outdated, broad-brush approaches. These methods fail to accurately quantify the impact of physical risks, such as infrastructure dependencies and supply chain disruptions, leading to uninformed decision-making and potential uninsured business losses.
Solution
One Concern offers a data platform that quantifies physical risks to businesses by creating a digital twin of the physical world using AI, data science, and catastrophe modeling. This technology enables financial services, insurance, and real estate sectors to measure and benchmark vulnerabilities to operational disruptions, facilitating informed decision-making amidst climate-related uncertainties. The platform provides a consistent, comparable metric for physical risk, measured in terms of time, to evaluate and benchmark properties, companies, and sectors. By revealing the intricate web of outside-the-fence risks, One Concern helps businesses understand their exposure to uninsured business losses.
Target Audience
The primary customers are financial services, insurance, and real estate companies seeking to quantify and manage climate-related financial risks.
Features
- AI-powered digital twin of the physical world for precise risk assessment
- Catastrophe modeling to simulate the impact of natural disasters
- Quantification of business interruption vulnerabilities due to infrastructure dependencies
- Measurement and benchmarking of physical risks to properties, companies, and sectors
- Identification of potential uninsured business losses
- Consistent, comparable risk metrics for informed decision-making