Insight

Does Your Insurance Policy Predict Injuries Before They Happen? We Can, With Predictive Analytics.

by Kristopher Mizel

Insurance premiums are most affected by the losses a company has experienced. By glancing into the past, we attempt to foresee what tomorrow will bring. But is looking in your rearview mirror the best way to get around? What if your insurance company could predict losses based off newer, more accurate data? But predictive analytics isn’t a new conversation piece, Safety Professionals have been striving to look for correlations in data and unsafe behaviors for more than 100 years. But up until this point, the data available to our experts just wasn’t enough. Loss runs from the past 5 years, a few internal assessments, and some management understanding was most of what was available as far as safety data-streams. We have detected ergonomic events in the 10s of thousands from analyzing only a few hundred hours of video from a client. This results in orders of magnitude more data available to analyze.

CompScience is implementing groundbreaking computer science technology paired with preexisting camera systems inside our client’s facilities, to make expert recommendations on corrective actions. This leads our clients to lower losses and more stable insurance costs. Our AI can identify and analyze a plethora of human and machine detectors ranging from unsafe body positions or lifting technique, to even forklifts and other Powered industrial Truck (PIT) hazards. All these new detections are used to predict future accidents based on current, real-world hazards, rather than records of accidents years past.

CompScience provides you and your team the valuable information that has not beencollected before now. Arming your loss control team with everything they need to identify and mitigate hazards before they turn into accidents. Near misses, historically a difficult event to quantify or even capture, now becomes a very useful source of close-calls that may directly relate to real-world incidents. Our AI will search the video footage and pull our video clips of each near miss detected. These events that would typically go unnoticed area now available for investigation.

What we can then offer directly to the client’s loss control team, is astronomically more information to base their research and recommendations on. Live risk report reviews with our team also allows for you and your team to talk to the experts reviewing your data and making recommendations. Our partnership leads to lower WC losses and increase client education. We ask the questions others don’t.

Latest Posts

Annoucement

March 20, 2023

ProMat 2023: CompScience to Launch Innovative Risk Assessment Tool for Manufacturing and Supply Chain Companies 

The first AI-powered accident prevention software for Workers’ Comp Insurance reduces injuries and workers’ compensation premiums – one of only 10 startups selected for the startup pavilion   Chicago -March 20,  2023 – CompScience Insurance Services today announced that its AI-powered Intelligent Safety Platform can be used to generate Risk Assessments for qualified manufacturing and […]

Read more
Annoucement

March 20, 2023

CompScience Launches AI-Powered Workers’ Comp Product Backed by Nationwide and Swiss Re

Reducing claims by up to 23%, CompScience now offers Workers’ Compensation Insurance Policies that minimize injuries and premiums via its Intelligent Safety Platform   San Francisco / Columbus, OH – March 20, 2023 – CompScience Insurance Services today announced a managing general agent (MGA) agreement with Nationwide and Swiss Re to underwrite, bind and service […]

Read more
Annoucement

March 15, 2023

Injury Detection with AI Can Can Stop Accidents Waiting To Happen

Workplace accidents are a serious concern for businesses and employees alike. Despite the best efforts of employers and workers, accidents can still occur, leading to serious injuries and even fatalities. The impact of workplace accidents can be far-reaching and can have a lasting impact on the lives of workers and their families. Now, AI makes […]

Read more
Resources

March 15, 2023

Q: How can I make my worklplace safer?

A: There are several things you can do to make your workplace safer: Identify and assess potential hazards: The first step to making your workplace safer is to identify potential hazards that can cause harm to you or your colleagues. Conduct a risk assessment to identify potential hazards and evaluate their potential impact. Implement safety […]

Read more
Insight

March 11, 2023

What is safety analytics?

Safety analytics is the process of collecting, analyzing, and interpreting data related to safety incidents, risks, and hazards within an organization or industry. It involves the use of statistical methods and analytical tools to identify trends and patterns in safety-related data, as well as to develop insights and recommendations for improving safety performance. Safety analytics […]

Read more
Resources

March 9, 2023

CompScience is Exclusive CMTA Member Benefit

You can lower your workers’ comp insurance rates while making your workplace safer through new Artificial Intelligence technology.   CMTA has partnered with CompScience to reduce workplace accidents. CompScience has created an innovative tool using Artificial Intelligence to lower risks.   CMTA members can take this free risk assessment.   This benefit can help California manufacturers […]

Read more