Annoucement
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 supply chain companies at ProMat 2023.
CompScience has been selected for the startup pavilion at ProMat 2023, the world’s largest materials handling, logistics and supply chain show. Attendees can sign up at the CompScience booth in the Startup Pavilion, March 20-23, 2023.
To initiate a risk assessment, a company shares a combination of prior injury data, video, and other relevant information. CompScience then uses their corpus of $100B in US injury data and 1M hours of video data to provide benchmarks against similar companies within the same industry and location. CompScience works with a company’s insurance broker, self-insured representative or captive manager to complete the risk assessment.
CompScience’s Intelligent Safety Platform is an accident prevention program for the logistics, supply chain, warehousing and manufacturing industries. The risk assessment generates actionable analytics using any workplace video source.
“Adopting the Intelligent Safety Platform is proven to lower overall risk for logistics and therefore workers’ compensation premiums and total cost of risk. CompScience is laser-focused on using data science and AI to prevent injuries and overall liability by offering predictive analytics and solutions that actually save lives,” explained Josh Butler, Founder and CEO of CompScience Insurance. “It’s a win-win for businesses and workers.”
The platform is available as standalone software or as part of workers’ compensation policy from national insurance carriers. The platform was designed with privacy and security from the ground up without facial recognition to preserve privacy.
About CompScience Insurance
CompScience Insurance reduces workers’ comp insurance costs for businesses by limiting the probability of injuries. The Intelligent Safety Platform is based on AI-powered safety analytics that provides risk assessment and recommendations to make workplaces safer.
Latest Posts
May 16, 2023
Safety and Ergonomics Webinar: How To Prevent Injuries with AI & Data Science
Learn about transformational safety analytics from CompScience that utilizes workplace video to generate predictive models from that safety managers and ergonomists can use to report and improve injury rates in manufacturing, logistics, construction and more. This 45 min webinar was presented by Kris Mizel, CSP, Head of Loss Control and Lauren Wandell, Head of Ergonomics […]
Read more
May 5, 2023
What is workers’ compensation insurance?
Workers’ compensation insurance is a type of insurance that provides benefits to employees who are injured or become ill as a result of their work. The purpose of workers’ compensation insurance is to ensure that employees have access to medical care and financial support in the event of a workplace injury or illness, and to […]
Read more
May 5, 2023
How To Focus A CFO On Improving Workplace Safety?
Here are a few strategies that may be helpful in convincing a CFO to prioritize workplace safety. It may not be clear at first why improving safety with analytics is important, but reducing accidents and improving an X-mod has high impact on costs. Talk with CompScience about how we can help reduce injuries with […]
Read more
April 30, 2023
How X-Mod Affects Workers Compensation Costs and How X-Mod Is Affected By Safety Practices
The Experience Modification Rate (X-Mod) is a factor that affects a company’s workers’ compensation costs. A high X-Mod indicates that a company has a higher than average number of claims, which can result in higher insurance premiums. From the perspective of safety managers, a high X-Mod suggests that a company’s safety program may not be […]
Read more
April 27, 2023
Reducing TRIR with AI and Computer Vision
TRIR (Total Recordable Incident Rate) is a measure of how many work-related injuries and illnesses occur in a workplace, usually expressed as a rate per 100 employees per year. AI (Artificial Intelligence) and computer vision can help reduce TRIR by improving workplace safety through the use of advanced technologies. We have measurably reduced TRIR for […]
Read more
April 27, 2023
How To Reduce DART Rates
Reducing the dart rate is a critical goal for any safety manager, as it directly relates to the safety and well-being of employees in the workplace. The dart rate, also known as the days away, restricted, or transferred rate, measures the number of days employees are away from work due to occupational injuries or illnesses. […]
Read more