2020 made us realize that challenges bigger than we ever expected could happen at any moment. So how do we ensure we’re prepared for whatever environmental threats may impact how we do business in the future? Listen as Richard Seline, co-founder of the Resilience Innovation Hub, talks about the importance of having proactive operations measures in place to be ready for anything. Plus, learn about the benefits from an insurance perspective, how to rethink instant gratification, and what it will take to build a sustainable, supportive business.

 

Key Takeaways:

[1:44] Our environmental conditions dictate how our businesses operate. When one hits our community, we see the fallout in real-time. Richard talks about how it’s not important what we do at the moment, but how we act before and after.

[3:15] Richard defines resiliency as the idea of pre-disaster and risk mitigation.

[4:00] There’s no chance of reducing every risk, but what preparation can do is reduce the cost and the operational and emotional impact.

[4:18] At the Resilience Innovation Hub, Richard and his team focus on de-risking business operations, facilities, and communities using a blend of technology, equipment, data science, and alternative capital.

[8:15] While businesses can’t afford to operate in areas that are most exposed to environmental threats, many still want to continue to build and expand in those regions.

[12:27] Preparing a stronger infrastructure for natural disasters is going to be more than minor modifications to the day-to-day systems. Richard has been working with water systems since 2014 and has seen the focus more on laws and rights than the tradition of getting water to a shared community.

[17:39] While private companies are leading the charge in water systems innovation, the public sector is lagging behind.

[21:04] The breakdown of the supply chain over the course of the pandemic is proof that we need to make our operations as resilient as possible.

[24:00] If we can make the necessary pivot, we can build more sustainable and resilient businesses that support the communities they serve. Richard shares how you can reduce the cost of the operational impact of future events, but only if you invest ahead of the curve.

 

Quotes:

• “Our definition of resilience is this idea that if you invest ahead of the curve of an event, it makes you, your family, assets, and your employer much more resilient and stable in handling the shocks.” - 3:15 Richard
• “There are a lot more water sources than what’s sitting in the ground. There are a lot more innovations. - 14:33 Richard
• “We have to get out of the pattern of telling ourselves that things are fine as they are, and just going on with business as usual. We can’t sustain it.” 21:04 Richard
• “I think the challenge for all of us is the ability to adapt and pivot. It’s the ability to recognize that certain traditions and certain expectations in the past are going to evolve.” - 28:33 Richard

 

Continue on your journey:

• pega.com/podcast

 

Mentioned:

• Richard Seline
• Resilience Innovation Hub