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Addressing Climate Risks With AI

CoreLogic has announced a collaboration with One Concern, a resilience-as-a-service solutions provider. By using CoreLogic’s flood, storm surge, wind, and climate change data, and flood and wind vulnerability models, One Concern will have the ability to accelerate its artificial intelligence (AI)-enabled resilience solutions and disaster-risk reduction technologies to address and predict weather hazards and escalating climate threats.

CoreLogic collects and maintains property data on 99% of all U.S. residential properties. Leveraging this data, One Concern can pinpoint the hyperlocal vulnerabilities ahead of climate threats and continue to train its AI systems to assist organizations in shifting from recovery to resilience.

“Amidst worsening natural hazards, enterprises must build resilience strategies for an environment where black swan events are considered normal,” said Ahmad Wani, CEO and Co-Founder of One Concern. “As the world looks to face increasing climate risk, we believe ESG should have an ‘R’ for Resilience in order to address these evolving new hazards. Through this partnership with CoreLogic, we will be able to make disasters less disastrous by uncovering climate-risk blind spots, enabling communities to address the ripple effects of adverse climate events. CoreLogic’s data will give us a major advancement for data modeling to build the resilience-as-a-service category, while setting the stage for enterprises to operate at the nexus of resilience and sustainability. With unparalleled precision and granularity, we can now identify and plan for resilient enterprises to be sustainable, while also reducing their vulnerabilities from extreme weather caused by climate change.”

One Concern’s platform enables enterprise decision-makers to understand their risk exposure to climate and other hazards with probabilistic modeling to show potential impact on personnel, supply chain and other dependencies. In tandem, they enable organizations to invest in sustainable ecosystems and operations by identifying climate threat-resilient strategies to pursue ambitious emissions targets better.

“Many of CoreLogic’s solutions play an integral role in climate change management, as well as in natural hazard risk and post-event recovery,” said Mick Noland, Managing Director–Protect, CoreLogic. “We continue to provide these dynamic solutions to insurance companies, and this collaboration with One Concern presents a new market for CoreLogic as we help inform resilience strategies. We look forward to establishing more relationships with cutting-edge solution providers like One Concern as we carry out our mission of helping millions of people find, buy and protect the homes they love.”

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.
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