Ilume

Author: Kraus-Anderson Insurance

Welcome to Ilume, a podcast for bright minds on risk, brought to you by Kraus-Anderson Insurance. Listen and learn about current strategic business risks from industry experts and insight leaders as we strive to meet your greatest risk challenges with innovation and depth of knowledge. Our co-hosts, Seth Hausman and Heather Burmeister are looking forward to bringing you insightful conversations and practical ideas, in a light, friendly, and fun format.
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Language: en

Genres: Business, Entrepreneurship, Management

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Loss Control Goes Digital
Episode 31
Monday, 15 July, 2024

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.