MākuSafe® Discussed in Latest Research Brief from Novarica
June 26, 2019
MākuSafe® is proud to be included in this research from Novarica on prominent providers of loss control solutions.
INTRODUCTION
Loss control is a unique service that insurance carriers provide—typically for commercial accounts or high-value personal insurance properties. 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, carriers have staffed these functions with trained engineers who physically inspect properties and worksites to deliver risk control reports. These reports, though valuable, do not provide real-time insight into what is happening with workers or the property.
There is increasing interest among insurers in leveraging emerging tech capabilities such as sensor technology, imagery, and wearable cameras to change the landscape dramatically—from simple risk mitigation to real-time prevention. Mobile capabilities are enabling loss control engineers to create real-time transparency with customers on-site. Traditional loss control systems are still critical to managing scheduling, report preparation, and operations, but new technologies (and the data they generate) are garnering significant interest.Summary
Carriers are transforming the traditional back-office loss control function by coupling emerging technologies with modern loss control platforms. IoT devices, wearable technologies, and tools that leverage images (e.g., drones), are creating real-time risk management and insight. Traditional loss control platforms are also beginning to take advantage of third-party data and analytics.
This brief provides an overview of loss control platforms and emerging tech solutions. It also profiles traditional providers like AuSuM Systems, EXIGIS, IMTI Systems, InsuraTek, Mindtree, Nexus Insurance Solutions, PremiumWare, Risk Control Technologies, and Utilant as well as emerging providers like 360GlobalNet, Augury, CoreLogic, The Detection Group, Flow, Gleason, Librestream, MākuSafe, OneEvent, Roost, Sensitech, Triple+, and WeGoLook.
