The insurance company sets a date to visit your project site or location. They arrive, conduct their interviews and evaluate your business operations. You may receive some recommendations following the visit and then you provide your response. Did you ever wonder what happens after that with the information from that visit? In years past, that report got filed away in an underwriting file, perhaps never to be read again. Today, however, the information, observations, and data from that report can be aggregated and analyzed in new and important ways. The information may feed into an underwriting pricing model to impact premium decisions or even play a big part in the decision to provide a proposal. Beyond that, the data, when integrated with claims data, provides predictive capabilities to help predict and avoid the next claim. The power of that granular information, when harnessed, can have a direct impact on the financial results of the insurance company and of your own business. Many companies are leveraging the analytics behind loss control information to decrease claims and increase profits. Risk Control Technologies is on the forefront of this data capture and evaluation. We are thrilled to have David Pittman, AVP of Sales for Risk Control Technologies, join us for this episode and share his insights into this new horizon for insurance carriers, brokers, and clients.
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