with Jeff Bray,
SVP of Global Risk Management, Prologis
Q: When you first met Archipelago, you said "there has to be a better way." What was frustrating about the status quo?
A: Our quality data has wide-reaching potential to improve the way we manage risk, both internally as well as with our insurer partners, but the systems and processes in place made it challenging. Spreadsheets and files were cumbersome to update and couldn’t connect all of the rich data we were generating from adds and deletes, updates, upgrades, and inspections.
Q: Prologis is driving a number of digital initiatives, and you've worked with start-ups as well. What was different about Archipelago?
A: Archipelago’s domain expertise across technology, property, and risk, as well as their execution, really stood out. They used fast cycles to get my input on designs and requirements, delivered to clear milestones, and worked well with stakeholders across Prologis. For example, our Technology Team was impressed with how Archipelago infused our domain into their tech and was able to identify so many novel sources of data that we already had but didn’t fully appreciate, including connections to/from our corporate Digital Lake initiative.
Q: How did your insurance markets respond to the new data-driven insights you were able to share during your renewal?
A: We were able to bring to life, with data, the proactive stewardship of our properties, our risk data governance, the rigor of our roof management and maintenance programs, our strategy of “newer, bigger, and better,” and, perhaps most importantly, the earthquake resilience of our portfolio of warehouses in the Western U.S. through our ongoing retroﬁt program and the growing proportion of superior concrete Tilt-up Steel Frame Hybrid construction of our larger warehouses. Insurers gained even more confidence in our data from evidence links to source documents.
Q: You've said your work with Archipelago is a journey. How do you see this unfolding as you move forward?
A: We’re already using Archipelago to capture new sources of data beyond what we shared during our renewal, and we’re now exploring with Archipelago how we can also incorporate digital and IoT data from our Smart Buildings. We’re also using the platform to support our quarterly updates to our bound markets, giving them more visibility throughout the policy year. Taken together, this will enable eﬀective decisions for proactive risk management, as well as a positive evolution in how we design and place our insurance programs.
Prologis at a glance
Real Estate Operations
Prologis Real Estate Operations leases prime logistics facilities in global infill markets where our customers want to be.
Prologis Development builds modern assets in centers of global trade - assets that are scarce and in demand by our customers.
Prologis Strategic Capital enables responsible growth in global markets, while earning asset management and incentive fees.