--- title: Novem Publishes Total Cost of Risk Ownership White Paper to Show Owners What Building Risk Really Costs | Novem description: Novem publishes its Total Cost of Risk Ownership white paper, showing owners how to measure the full cost of building risk, not only the insurance line. image: https://www.novemdigital.com/hubfs/novem-resources/pr-tcro-white-paper-v7.jpeg --- [![Novem, Property Risk Platform](https://www.novemdigital.com/hubfs/raw_assets/public/NovemZulbera_27/images/novem-logo.svg)](https://www.novemdigital.com/) [Platform](https://www.novemdigital.com/platform/) [Industries](https://www.novemdigital.com/industries/) [TCRO](https://www.novemdigital.com/tcro/) [Partners](https://www.novemdigital.com/partners/) [Resources](https://www.novemdigital.com/resources/) [About](https://www.novemdigital.com/about/) [Contact Us](https://www.novemdigital.com/contact) [![Novem, Property Risk Platform](https://www.novemdigital.com/hubfs/raw_assets/public/NovemZulbera_27/images/novem-logo.svg)](https://www.novemdigital.com/) [Platform](https://www.novemdigital.com/platform/) [Industries](https://www.novemdigital.com/industries/) [TCRO](https://www.novemdigital.com/tcro/) [Partners](https://www.novemdigital.com/partners/) [Resources](https://www.novemdigital.com/resources/) [About](https://www.novemdigital.com/about/) [Contact Us](https://www.novemdigital.com/contact) ![Cover of the Novem Total Cost of Risk Ownership white paper](https://www.novemdigital.com/hubfs/novem-resources/pr-tcro-white-paper-v7.jpeg) Press Release # Novem Publishes Total Cost of Risk Ownership White Paper to Show Owners What Building Risk Really Costs Press Release October 14, 2026 3 min read By Novem Press Release Share Download PDF *The white paper gives CFOs and asset owners a way to measure the full cost of building risk, not only the insurance line, so they can plan capital and protect the people inside their buildings.* **VANCOUVER, British Columbia, October 14, 2026:** Novem makes building failure predictable for institutional real estate portfolios. Today, Novem published Total Cost of Risk Ownership, a white paper that shows owners how to measure what building risk costs across claims, downtime, premiums, maintenance, and governance. The paper was co-developed with a global digital energy and building services company and a global commercial insurance company. Most owners track Cost of Risk: claims, premiums, and deductibles, the costs an insurer can see. That number was never built to measure what risk costs the portfolio. It misses the revenue lost when a chiller fails at peak occupancy, the premium paid for an emergency crew at midnight, and the capital spent on replacements driven by age instead of condition. "Most institutional owners are managing the wrong number," said Clint Undseth, CEO and Founder of Novem. "When leaders can see the full cost of risk, they can stop absorbing surprises and start protecting the people in their buildings and the capital behind them." Total Cost of Risk Ownership (TCRO) is Novem's framework for that full number. It measures the financial burden of risk across a portfolio, including the operational, capital, compliance, and reputational costs that traditional Cost of Risk leaves out. The white paper explains the framework, shows how to measure it, and draws its evidence from real portfolios and 20 years of claims experience. The gap is larger than most owners expect. The paper finds that every $1 of unplanned equipment failure carries $4 to $7 of total impact once downtime, emergency labor, tenant disruption, and insurance consequences are counted. "A CFO cannot defend a capital plan or an insurance renewal with half the picture," said David Crawford, Chief Financial Officer of Novem. "TCRO turns building data into evidence a board, a lender, and an insurer can trust." The white paper supports Novem's Property Risk Platform (PRP), which brings building, equipment, and claims data into one source of truth so leaders can see which systems are likely to fail, what that failure could cost, and what to fix first. Owners can download the paper and estimate their own savings at novemdigital.com. \### ### Notes to editors The $4 to $7 total impact figure and the claims experience referenced in this release are drawn from the Total Cost of Risk Ownership white paper, available at novemdigital.com/resources/total-cost-of-risk-ownership-white-paper. ## About Novem Novem is a Property Risk Platform that makes building failure predictable for institutional real estate portfolios. By combining continuous monitoring with insurance loss and equipment data, Novem turns invisible risk into audit-ready financial evidence. CFOs and asset owners use Novem to reduce Total Cost of Risk Ownership (TCRO) and insurance costs, protect net operating income (NOI), support stronger asset valuations, and enter board, lender, and insurer conversations prepared with facts. Novem is headquartered in Vancouver, Canada. **Media contact** Novem [pr@novemdigital.com](mailto:pr@novemdigital.com) See what predictive looks like for your portfolio. Estimate how much risk-related cost your portfolio could avoid, then talk to an expert about where to start. [Estimate Your Savings](https://www.novemdigital.com/estimate-your-savings/) Contact Novem ## How can we help? Pick the path that fits where you are. Every route reaches our team. [Estimate Your SavingsSee what predictive operations could save your portfolio. Reviewed by our team.](https://www.novemdigital.com/estimate-your-savings/) [Book a DemoSee the platform live and what it surfaces in your portfolio on day one.](https://www.novemdigital.com/get-a-demo/) [Talk to an ExpertHave a question first? Reach our team directly and we'll point you the right way.](mailto:connect@novemdigital.com) Ready to see what surfaces in your portfolio? [Estimate Your Savings](https://www.novemdigital.com/estimate-your-savings/) [![Novem, Property Risk Platform](https://www.novemdigital.com/hubfs/raw_assets/public/NovemZulbera_27/images/novem-logo.svg)](https://www.novemdigital.com/) Novem is a Property Risk Platform that makes building failure predictable, so CFOs and asset owners can reduce Total Cost of Risk Ownership (TCRO), lower insurance costs, and protect net operating income (NOI). Headquartered in Vancouver, Canada. 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