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.
May 5, 2023
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 20, 2023
Workplace safety is a crucial concern for businesses across all industries, and many organizations are investing in safety programs and technologies to prevent accidents and injuries. Workplace safety analytics is a key tool that businesses can use to gain insights into their safety programs and identify areas for improvement. Contact CompScience to learn how the […]Read more
April 18, 2023
Artificial Intelligence (AI) is transforming the way we live and work, and the field of workplace safety is no exception. AI-powered risk reduction programs are becoming an increasingly important tool for promoting a safe working environment. These programs use machine learning algorithms to analyze data from various sources and identify potential safety hazards before they […]Read more
March 15, 2023
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
February 7, 2023
Bending and lifting heavy objects often is not seen as a concern, but the reality is that the probability of injury increases with each repetition of the task. This is because repetitive motions, such as bending and lifting, can put stress on the same body parts and lead to repetitive stress injuries over time. […]Read more
February 7, 2023
Workers lifting objects overhead is a common task in many industries. Although it may seem harmless, it can lead to repetitive stress injury over time. This type of injury is caused by repetitive motions that put stress on the same body part, leading to pain, discomfort, and decreased mobility. Safety managers can now prevent […]Read more
October 15, 2022
Workflow improvements led to 95% reductions in lifting exposure. Interventions: Ergonomics trainings and new material transport systems Result: Client introduced dollies as a result of our findings around high numbers of overhead lifts occurring in their facility. “It was such a simple solution that employees liked. It was something that was never […]Read more
October 10, 2022
Quantifying the risks and productivity gains associated with safety improvements can be an effective way to get those improvements funded. By demonstrating the potential costs and consequences of workplace accidents and injuries, and by showing the potential benefits of safety improvements in terms of reduced costs and increased productivity, organizations can make a strong case […]Read more
August 30, 2022
Predictive models can bridge the gap between safety data and financial metrics by using data on past accidents and injuries to predict the likelihood of future accidents and injuries, and by estimating the potential costs of those accidents and injuries. By analyzing data on past accidents and injuries, predictive models can identify trends and patterns […]Read more
May 5, 2023
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
April 30, 2023
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
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
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
April 25, 2023
The cost of risk is a multifaceted concept that has significant implications for individuals, organizations, and society as a whole. At its core, the cost of risk is the potential financial or non-financial loss that an entity may incur as a result of an uncertain event or outcome. In this article, we will explore the […]Read more