UC Berkeley CCRM

Presentation

0:00 Introduction - Rune Storesund

Background on Center for Catastrophic Risk Management

Presentation

1:35 K. Dixon Wright

2:46 Presentation

3:06 Overview

6:07 Problem Statement

6:50 The Federal Button

9:00 Ecosystem Stakeholders

10:09 The Data Element

12:12 The Data Stack

15:33 Use Cases

15:36 Digital Contractors Monthly Progress Payment Application

16:47 Digital Solar System Monthly Operating Report

20:09 Digital Surety Bond

21:38 On Bill Repayment

24:40 Where We Are Today

27:20 Summary

27:51 Going Forward – Brainstorming

32:02 End

Post Presentation Brainstorming

0:00 Dixon Wright

0:36 Pete Dumont – Blockchain and OS2

4:07 Dixon Wright – XBRL and other Standards

5:20 George Kelly – PV System Monitoring System

5:55 Emery Roe – Real Time Information Question

6:48 Dixon Wright – Data report timing response

8:23 Dixon wright, Question - Are Case Studies Available

9:17 Jan Rippingale, AHJ Registry/Solar App

12:07 Dixon Wright, Working outside of XBRL.

12:45 Jan Rippingale, Working Outside XBRL

15:28 Thomas Frossard, Blockchain and Security

16:17 Peter Dumont, Blockchain use cases.

17:40 Dixon Wright, Question Does Blockchain undermine competitive advantage.

18:49 Peter Dumont, Blockchain and the construction industry

19:50 Dixon Wright, Private sector more agile than public

20:21 Dixon Wright, Environmental permits

20:50 Rune Storesund, Future workshop at UC Berkeley

22:02 Dixon Wright, Future workshop at UC Berkeley

22:52 Rune Storesund, Future workshop at UC Berkeley – Blockchain

23:18 Pete Dumont, Blockchain

26:59 Thomas Frossard, Blockchain

27:24 Dixon Wright, Meeting wrap up

27:54 Dixon Wright, Last question – Climate data for risk modeling

28:30 Jonathan Previtali, Climate data for risk modeling

30:20 Rune Storesund, Meeting close

30:35 End

Abstract

Insurance/surety companies have a unique perspective on risk management due to the very large portfolio of organizations and jurisdictions they service. This broad window gives them unparalleled insights into the skew between ‘intended’ performance and ‘actual’ performance, where the insurance company has to ‘pay out’ if things don’t actually go as ‘intended.’ Insurance companies manage this risk through data. Big data provides opportunities to refine and optimize risk management. Use of ‘big data’ is seen as a means to not only create an actuarial database to set ‘risk premiums,’ but also more near-real time identify potential risk factors that can be used as ‘leading indicators’ for risk management.

While “Big Data,” “Data Analytics,” “Predictive Analytics,” and “Data is the New Oil” have become commonplace terms in global business parlance, managing “data overload” remains a fundamental and consequential challenge: fragmented data from multiple sources in the ecosystem that lacks the data consistency to be of value.

The ‘Orange Button’ initiative aims to solve the challenge of data consistency across the construction infrastructure ecosystem which will enable and facilitate data interoperability between and among stakeholders — public or private — as well as generate innovations to improve efficiency, reduce risk, and provide the transparency to attract capital (cash funding sources) and financial markets (bank and trade credit, insurance, surety) with greater capacity as well as improved terms and conditions. This ‘Big Data’ approach will facilitate measuring and monitoring key performance indicators to improve risk management as well as to strengthen policies and capabilities. Data interoperability will become an increasingly significant factor in determining risk, accessing capital, and/or securing trade credit, and the costs of insurance or surety will likely also be impacted.

This session will illustrate the U.S. federal government’s efforts, in collaboration with the private sector, to establish data interoperability across industries and ecosystem stakeholders in financing, building, insuring, and operating renewable “green” infrastructure projects such as solar and wind energy.

Here are some of the experts and their respective expertise that will be responding to questions and participating in the brainstorming:

Orange Button Collaboration Group

Jan Rippingale, Chief Executive Officer, Blu Banyan

· Authority Having Jurisdiction (AHJ) Registry

Jonathan Previtali, Director of Technology & Technical Services, Wells Fargo Bank

Joel E. Boeder, Vice President - Emerging Technologies Strategy Consultant - System Architect, Wells Fargo Bank

· Orange Button Taxonomy Viewer

Call for Concepts and Collaboration

Eric Altman, Assistant Vice President - Surety, Sompo International

Smart Contracts and Blockchain

Pete Dumont, Chief Executive Officer, PrairieDog Venture Partners

· Construction Industry Institute at the University of Texas at Austin - Operating System 2.0