One evening in 2018, after watching on social media the spread of a fire in a business park and the damage caused to a friend’s logistics business, we started wondering why a solution that could stop such tremendous losses from happening hasn’t been developed yet, given the latest technological advancements and the existing amount of data available nowadays. We saw a huge opportunity to make businesses and society as a whole more resilient, and decided it was time to act on it.
An idea occurred to us that if property operators had access to a digital platform, managed by insurers perhaps, that would continually monitor multiple data sources and provide location specific information about various risks, incidents that would normally threaten to cause property damages and business interruption could be prevented, resulting in minimised losses and a much quicker recovery process, ensuring insurance remains affordable.
We knew that our idea would help property operators to understand what risks existed to their properties and operations as well as to empower action and minimise damage, cost and interruption due to the fast, location specific critical information we could provide through our product. This is how the concept of the SmartResilience Platform was born, which has now come to fruition, to give insurers and commercial property owners the right information at the right time to manage risk and build a more sustainable future for all.
Mission and Vision
We are on a mission to empower law enforcement, insurers, corporates and public services to closely collaborate in order to better protect society by utilising technology advancements. Through enabling fast and effective dissemination of critical insights to the right people at the right time, we are working towards inspiring behavioural change and enhancing people and asset resilience to ultimately combat big societal challenges such as climate change.
We envisage a future in which property owners/ policy holders will be influenced by technology to make proactive decisions in order to protect themselves, using insurance as a last resort, saving on uninsured costs and making insurance more affordable in the long run. This is where Balkerne will play a vital part by being the risk intelligence provider of choice, for existing and emerging risks, from COVID-19 to climate change, not only in the UK but globally, so as to make the world a safer place and simultaneously save costs for everyone in the value chain.