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 critical infrastructure post-earthquake. It’s a paradigm shift geared towards not just protecting life but also enabling rapid restoration post-disaster. In line with such a forward-thinking approach, One Concern’s ground-breaking technology offers a fitting solution.
Leveraging the latest technologies and advancements in AI, One Concern provides critical insights into the potential impacts of natural disasters like earthquakes on vital infrastructure. This spans widely to include road/bridge impacts, airport downtime, and power outage. Our distinct downtime statistics (1CDS™), resilience scores (1CRX™), and BI (Business Interruption) risk scores present a granular view of potential downtime risk for building locations, providing insurers, risk engineers, and other stakeholders with the means to mitigate and manage such disastrous outcomes.
This aligns with NEHRP’s focus areas for 2022-29 outlined in Chapter 3 of the plan, “Program-Identified Focus Areas to Support NEHRP.” These areas include:
- Enhance performance-based design procedures and metrics for the functional recovery of buildings and lifeline infrastructure.
- Advance performance-based seismic design and assessment methods to ensure multi-system coordination.
- Develop performance guidance for lifeline infrastructure by advancing the understanding of the performance of lifeline infrastructure.
One Concern’s advanced data deliver comprehensive insights into the downtime of a building at risk from earthquakes, floods, and wind events. This goes beyond measuring the structural integrity of buildings; it expands to predicting how essential services such as power would affect daily operations within these structures in an earthquake.
Promoting faster functional recovery after an earthquake, our technology fits in with the federal government’s roadmap. By planning for contingencies in advance, we can ensure that infrastructure and buildings don’t just survive a quake but quickly bounce back to normalcy, minimizing both downtime and the negative domino effects from dependency risk.
As a risk engineer, seizing this opportunity to align your risk management strategies with forward-thinking solutions provided by One Concern, you put yourself one step ahead, fortifying your business against unforeseeable natural disaster risks.
Interested in knowing more? Join our upcoming One Concern Masterclass or reach out to us at firstname.lastname@example.org. Whether you’re part of a risk engineering team or an insurance firm, we’re here to support you in building a future of resilience. Let’s embrace the revolutionary approach to natural disaster risk management together.
About One Concern
At One Concern, we are a climate resilience technology company dedicated to empowering organizations with actionable insights to address the impacts of business disruption caused by disasters. Through our analytics, we enable risk selection, mitigation, pricing, scenario analysis, and risk management. Our mission is to make disasters less disastrous by helping organizations understand and prepare for downtime from physical climate risks. We are committed to providing the world with the tools needed to effectively mitigate and manage downtime from such risks. Learn more about us at oneconcern.com.