The InnSure Total Cost of Risk Simulator is being co-created.
InnSure is running multiple consulting projects and demonstration projects with communities to co-create the Total Cost of Risk Simulator. The solution is being designed to help community leaders integrate insurability planning into economic development planning and resilience planning. When fully operationalized the TCOR simulation tools will help planners to:
- Prioritize resilience investments
- Identify and implement non-regulatory interventions into insurance markets design to make insurance more affordable and accessible.
- Catalyze insurance innovation necessary to more quickly and fully capturing the value of resilience investments in insurance markets
As we work towards a fully operational technology solution, InnSure and its strategic partners are assisting communities by applying the InnSure Total Cost of Risk methodology to assess targeted, narrowly defined use cases.
Through incremental funding of TCOR software pilot projects, communities can collaboratively share research and development costs while identifying high-impact use cases during organized prioritization sessions. Each potential project is evaluated based on the specific needs of the community, its technical feasibility, and the potential impact it may have.
Deliverables for pilot projects typically represent the minimum viable project (MVP) outcomes. Deliverables often evolve through the co-creation process, with the focus on achieving functional capability rather than comprehensive implementation across all possible use cases. A typical pilot project will deliver the following deliverables:
- System Architecture Document: Detailed technical specification of system components
- Agent Interface: Web-based user interface for interacting with the simulator
- Prompt Library: Complete set of structured prompts for the LLM system
- Data Integration Reports: Documentation of all data sources and integration methods
- Risk Assessment Models: Implemented models are typically sourced from third-party providers, accompanied by thorough documentation of their methodologies. Whenever feasible, we prioritize the use of cost-effective open-source models that offer clear transparency into their design processes.
- Pilot Implementation Reports: Results and findings from the pilot community implementation.
- User Training Materials: Guides and resources for city staff
- Final Project Reports: Comprehensive documentation of the project, including
- Lessons learned
- Recommendations for system expansion/next steps
- Recommendations for insurance market intervention strategies potentially coordinated with other InnSure supported pilot communities.
This collaborative approach utilizes agile development techniques across multiple simultaneous pilot projects. By conducting design sprints, we create testable prototypes that incorporate ongoing feedback from stakeholders. End users are actively involved in developing user stories, conducting acceptance tests, and refining features to ensure the solution meets community needs effectively.
The multi-pilot strategy promotes shared learning across projects, allowing teams to leverage insights gained from various implementation scenarios. By testing the software in real-world environments, we can confirm its functionality across different operational conditions, ensuring that it remains practical and effective for community needs.
By spreading investment across various projects while preserving shared design oversight, the co-creation framework guarantees that the TCOR simulation tools are immediately relevant and practical. Communities that participate early in the process will have the chance to shape the design of the solution to better meet their specific needs.