Overall, building resilience is a key component in the predictable lifespan of a structure. Not only does it reduce the stress of disaster recovery, but it also benefits everyone in the mix. Building expert Aris Papadopoulos of Resilience Action Fund says, “…the public is being saddled with billions of dollars in costs, whether through direct losses, insurance rates or taxes/ government debt.”
Why this affects you.
What would it be like if your insurance rates went down? I am sure that no one has ever said “no” to an insurance carrier lowering their rates. While still theoretical, this is possible from how insurance companies figure out their rates and that is done by assessing their risks.
It is a fascinating process figuring risk by using “actuarial science” to quantify the risk, and in turn, insurance companies create policies for clients that work to minimize the cost of that risk. So, the less risk, the lower your rates.
Actuarial Data That Helps You
Experts in data science and actuarial science use many of the same techniques when analyzing data to make informed forecasts about risk probabilities. These include data visualization, pattern recognition, and statistics. Chances are your data is currently being used to feed an actuary in their goal of finding a solution to determine the highest profits for their employer.
Let’s Have a Chat About Your Building Resilience
With environmental mandates coming form worldwide respective governments, we would love to schedule a meeting to talk about your upcoming projects. You can schedule a Zoom meeting by contacting us here. If you would like to know more about building resilience, visit our friends at PNBRC (the Pacific Northwest Building Resilience Coalition) where they focus the combined resources of the allied cement, concrete and masonry industries to position concrete, through education and advocacy, as the material of choice in the low, mid and high-rise building markets in the Pacific Northwest..
