One Concern Launches First-Ever Digital Twin to Build Climate Resilience
One Concern blends climate and peril science with machine learning to calculate climate risk exposure. Turning risk into resilience, One Concern sets the stage for the climate adaptation market by launching:
- One Concern Domino™, an enterprise-ready, SaaS platform that applies climate impacts on individual assets and infrastructure and predicts what will fail first, causing business interruption; and
- One Concern DNA™, a suite of climate resilience data and analytics as a service that powers portfolio analysis and enables precision risk selection, asset valuation, and risk pricing.
MENLO PARK, Calif.–(BUSINESS WIRE)–One Concern, a climate resilience technology company, launched today two new products, One Concern Domino™ and One Concern DNA™, providing corporate clients with new tools to adapt to the growing threat of climate change. Presently, corporations are limited in their ability to understand climate impacts and extreme weather events beyond direct damage to their assets. One Concern changes the game by uncovering hidden vulnerabilities in the infrastructure that powers enterprise, such as the electrical grid, transportation networks, and communities.
“We’ve under-estimated the level of climate disturbance we have now,” said Dr. Steve Howard, One Concern Advisor and Chief Sustainability Officer at Temasek. “We need to be smart about how we build everyday resilience into systems, supply chains, infrastructure, and communities. We can’t just build sea walls, flood defenses, and reinforcements. We need a smart way that builds in the inevitable increase in extreme events.”
“Unless decision-makers are equipped with the knowledge and insights around how our changing climate will impact our world, it will be nearly impossible to enact meaningful resilience,” said General (Ret.) David Petraeus, One Concern Investor and former Director of the CIA.
Using data-centric machine learning, One Concern has developed Domino, a high-resolution, digital twin solution that identifies the ripple effects of perils across society’s complex networks and ecosystems, including the power grid, transportation networks, and communities. By doing so, One Concern is able to measure “business resilience,” not just building damage.
One Concern scenario planning and climate change models uncover asset-specific risk insights and projected network impacts to dependencies, across a broad range of variables – planning horizons, return periods, and first climate change scenario (RCP 4.5). This enables measuring the qualitative and quantitative business impacts from climate change.
“Releasing our first digital twin, a simulation of the world around us, allows us to run climate models and decipher the direct and indirect impacts of extreme weather and climate change on business operations, people, and infrastructure,” said Ahmad Wani, CEO and Co-Founder, One Concern. “Armed with better data and machine learning, we’re bridging the critical gaps in actionable disaster and climate risk information. As a result, we’re able to measure climate resilience using data like never before.”
The cloud-based software provides users with the expected cost of repair as a percentage of the total value of a building and predicts infrastructure downtime due to power outages, compromised infrastructure, and immobilized communities.
One Concern has collected, curated, and analyzed trillions of data points to develop its products. To date, the company has calculated 3.3 trillion recovery data points, 87 billion downtime data points, and 34 billion damage ratio data points to ensure we are making climate change insights tangible and actionable for our clients.
“The innovation behind our products is the type of data we’ve been able to create, collect, and aggregate into a single location,” said Nicole Hu, Chief Technology Officer and Co-Founder, One Concern. “It is a huge task to even bring trillions of data points together in a unified, structured way that is understandable to customers. Moreover, we are doing predictive modeling for dependency risks and providing those impacts at scale across different lenses.”
DNA powers Domino with highly curated data and resilience benchmarking to compare resilience performance against other properties. DNA’s property-level resilience analytics facilitates a new portfolio management grade, precision risk selection, asset valuation, and risk pricing. Domino and DNA are available in the U.S. today and will become available in Japan in the coming months.
“At Verdantix, we are seeing a significant drive towards spending from corporates and investors on climate risk assessments for physical assets, with a key component of these engagements being the technological solutions capable of delivering detailed insights,” said Sam Renshaw, Verdantix Industry Analyst. “One Concern’s newly released resilience solutions are driven by digital twin capabilities and collectively encapsulates the ability to perform resilience planning across supply chains and develop in-depth insights into the underlying risk analytics of a credit or equity portfolio that could be most impacted by climate risk.”
To view One Concern Domino and One Concern DNA case studies, please visit oneconcern.com/en/case-studies/.
About One Concern
One Concern, a climate resilience technology company, enables organizations to focus on adaptation and resilience strategies by using newly developed resilience analytics for supporting risk selection, mitigation, pricing, and risk management. Applying machine learning and state-of-the-art resilience modeling, One Concern helps organizations better understand and prepare for physical climate risks with the mission of making disasters less disastrous. A 2019 Technology Pioneer, One Concern is part of the World Economic Forum’s Global Innovators community. oneconcern.com
Contacts
For media inquiries:
Izzy Santa
PR@oneconcern.com
