Every insurer has some form of loss control or risk engineering function to help customers prevent losses and create a safer environment for their employees. Traditionally, these functions have been staffed with trained engineers who physically inspect properties and worksites to deliver risk control reports. Although valuable, the reports don’t provide real-time insight into what’s happening with workers or the property.
There is increasing interest among insurers to leverage emerging tech capabilities such as sensor technology, imagery, and wearable cameras to dramatically change the landscape from simply mitigating risk to preventing it in real time.
Mobile capabilities are enabling loss control engineers to create real-time transparency with customers on-site. Although traditional loss control systems are still critical to managing scheduling, report preparation, and operations, new technology (and the data it generates) is garnering significant interest.
I’ll be diving deeper into this topic in an upcoming brief. Feel free to email me at [email protected] to have a conversation about this transformation.
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