Use Case

When a natural catastrophe strikes, the ‘economic loss’ across the affected geography is often an order of magnitude greater than the ‘insured loss’. Current standard Business Interruption coverage only provides cover for a business interruption which results from damage to the insured property, rather than external infrastructure. However, external vulnerabilities make up the lion’s share of the economic loss following a natural catastrophe.

Non-damage or contingent business interruption is very difficult to foresee, assess, and price, ultimately leaving business owners uninsured.

Business owners are increasingly frustrated with the nature of traditional interruption coverage. Insurers are under increasing pressure from insurance buyers, regulators, and public image to provide this highly valued cover. However, without an understanding of the dependencies a business faces, it is almost impossible to properly underwrite this risk at scale.

One Concern’s digital twin, coupled with advanced risk models, provides visibility into the dependencies to which an individual business is exposed. For the first time, we have a mechanism for a business to value an insurance offer, and through which an insurer can select and price (underwrite) this risk at scale.

• 1C DNA Curated Data™ helps insurers understand and manage their portfolio of underwriting by filling in gaps in underlying data for their individual risks across geographies.
• 1C DNA Risk Metrics™ provide a pure scoring of resilience risk, not unlike a credit score, to accelerate pricing and portfolio management
• 1C DNA Risk Statistics™ enable clarity on margin, risk/return, and solvency capital needs and ensures selection of top tier risks, and adequate pricing of bottom tier risks.
• 1C DNA™ also facilitates portfolio-wide evaluation of climate-change scenarios. This ability to monitor on the basis of a consistent suite of analytics improves portfolio steering