Novem: Property Risk Platform for Institutional Real Estate

Property Risk Platform

See which building systems are likely to fail and what each failure would cost, so you can cut emergency and insurance spend, protect NOI, and support stronger asset value.

Estimate Your Savings Book a Demo

Failures are Predictable.

10%Lower insurance costs, seniors housing

$200K+Year-one impact, dementia care

900+Building issues cut to 10, office tower

The Problem

You are paying for failures you could have prevented.

Most real estate owners do not know what critical systems they have, how old they are, or which are at risk. Risk stays invisible until it becomes a loss event.

Expensive surprises

Emergency repairs, volatile insurance, and unplanned capital spend absorb margin you should never have lost.

Technician checking pumps in an equipment room

Running blind

Boards and insurers ask for audit-ready evidence that does not exist.

Technician servicing an air handling unit

Hidden financial burden

Traditional Cost of Risk misses the gaps that hit your P&L first.

In Practice

Real buildings.
Measurable outcomes.

When a board, lender, or insurer asks how you know your risk is managed, you deserve to answer with facts.

All case studies

Residents and family in a seniors living lounge

A regional seniors living operator in Western Canada

From 19 outbreak weeks to 3.

“Outbreak-related wage premiums fell from $28,800 to $9,800, while PPE spending decreased 34% over three years.”

65% Fewer outbreak weeks

A major Western Canadian events and entertainment campus

A critical failure stopped before it became a claim.

“Early warning helped prevent a potential major loss while annual insurance cost growth remained at 0%.”

$5M Maximum probable claim prevented

A landmark mixed-use office tower in a major Canadian city

Commissioning reduced from 36 months to four.

“$10.1M in forecast energy savings, with 2% of infrastructure capital spend avoided.”

89% Faster commissioning

See what Novem finds in your portfolio.

See how the platform surfaces failures in a portfolio like yours.

Book a Demo

Trusted Partners

Risk reduction grounded in real loss experience, not assumptions.

Built with established infrastructure, insurance, and broker partners to create stronger risk evidence, greater underwriting confidence, and more defensible capital decisions.

INFRASTRUCTURE PARTNERS

Turn building systems into earlier action.

Embed Novem intelligence into building systems and services to help long-term real estate accounts predict failures before they become loss events.

INSURANCE DATA PARTNERS

Turn claims insight into pricing confidence.

Combine claims insight with Novem data to improve risk visibility, pricing confidence, and risk management across institutional real estate.

BROKER PARTNERS

Build a more defensible risk story.

Use Novem data to engineer risk, improve submissions, and support more defensible insurance and capital decisions for institutional portfolios.

How It Works

The platform built to make building failures predictable.

One platform. Lower Total Cost of Risk Ownership, controlled insurance, and protected NOI. Risk stops being invisible.

Novem portfolio overview showing modeled failure cost, downtime avoided, and proven savings

Novem equipment risk view ranking units by expected loss, risk score, and remaining life

Novem capital plan comparing planned replacement spend against budget by year

1. SEE EVERYTHING YOU OWN

Complete asset inventory, kept current across every building.

Every critical system mapped, with condition, age, replacement cost, and risk exposure visible before loss occurs.

2. RECEIVE EARLY WARNINGS

Know what is likely to fail before it costs you.

See emerging risk, expected financial exposure, and recommended action before failure becomes downtime, a claim, or emergency work.

3. FIX ON YOUR SCHEDULE

Turn urgent repairs into planned action.

Prioritize the work that reduces risk, avoids disruption, and protects capital before a small issue becomes a costly event.

4. PROVE AND IMPROVE

Turn risk reduction into financial control.

Use audit-ready evidence to strengthen insurance submissions, defend capital decisions, and show the impact of every action.

Book a Demo See results

Framework

See the failure before it hits your financials.

Most risk numbers only count what already happened. Total Cost of Risk Ownership (TCRO) counts every cost that hits your P&L, before one equipment failure becomes a claim of up to $5M.

Explore TCRO TCRO Calculator

TCRO vs TCOR

Is your risk number built for you, or for your insurer?

Cost	TCRO	TCOR
Premiums and retentions	✓	✓
Losses and claims	✓	✓
Downtime and interruption	✓	−
Reactive maintenance	✓	−
Risk management overhead	✓	−
Compliance and reporting	✓	−
Reputation and governance	✓	−

Five of the seven costs never show up in TCOR.

Reducing TCRO protects NOI. Protected NOI supports stronger asset value.

What You Get

Three outcomes you can measure.

See risk before it becomes loss.

Know which building systems are likely to fail, what is at risk, and what it could cost before disruption begins.

Lower costs, reduce insurance, and protect NOI.

Prevent emergency repairs, avoidable downtime, and rising insurance costs, so you can protect cash flow and operating income.

Make capital decisions with confidence.

Prioritize the work that matters most with the data you need to control risk and support stronger asset value.

Free Resources

See what invisible risk is costing your portfolio.

Two practical tools for finance, operations, and risk leaders who need a clearer view of building risk and its financial impact.

Whitepaper

TCRO Framework: The Full Cost of Building Risk

See how claims, downtime, insurance, maintenance, compliance, and governance create costs that traditional reporting misses.

Download the TCRO white paper

Interactive Tool

TCRO Calculator: What Is Invisible Building Risk Costing You?

Estimate the financial impact of invisible risk across your portfolio and identify where predictive operations could reduce avoidable costs.

Use the TCRO Calculator

FAQ

Common questions about Novem.

What is a Property Risk Platform for real estate?

A Property Risk Platform connects operational building data, risk intelligence, and financial exposure in one system so real estate owners can predict and prevent equipment failures before they become loss events. Unlike a building management system, which monitors and controls in real time, a Property Risk Platform translates those signals into financial outcomes, capital decisions, and audit-ready evidence. Novem combines continuous monitoring with insurance loss values derived from claims across 7.2 million buildings.

What is Total Cost of Risk Ownership?

Total Cost of Risk Ownership (TCRO) is the full financial burden of invisible building risk. It includes direct claims, emergency repair premiums, insurance volatility, business interruption, compliance overhead, fragmented reporting costs, and reputational exposure. Most organizations only measure direct claims, leaving the majority of their true risk burden invisible on the P&L. Novem frames all value delivery through TCRO so customers can see and manage the complete picture.

How does Novem predict building failure?

Novem combines continuous monitoring of critical building systems with insurance loss values derived from a global commercial insurer's more than 20 years of claims across 7.2 million buildings. By comparing continuous building signals against historical failure patterns at the equipment and building type level, the platform identifies elevated risk before a failure event occurs. Early warnings give operations teams time to intervene at standard rates during planned downtime rather than at crisis rates after an event.

How is Novem different from a building management system?

A building management system (BMS) monitors and controls building systems in real time. Novem layers predictive risk intelligence and normalized insurance claims data on top of existing systems to make failure predictable, translate operational signals into financial exposure, and produce audit-ready data for boards, lenders, and insurers. Novem does not replace a BMS - it makes its data financially useful and defensible at the executive level.

Which types of real estate does Novem serve?

Novem is built for institutional real estate owners with multi-site portfolios including commercial and mixed-use properties, seniors living and wellness facilities, data centers, and recreational and public venues. Best-fit organizations have a high cost of failure, board-level scrutiny on risk-related costs, rising insurance pressure, fragmented asset and risk data, and a need to move from reactive to predictive operations.

How does Novem protect NOI and asset value?

Novem helps identify building and equipment failures before they become emergency repairs, downtime, claims, or avoidable operating costs. Reducing these costs helps protect NOI and cash flow. More predictable capital planning and stronger risk evidence can also support stronger asset value and more defensible insurance and investment decisions.