Hear how Liberty Mutual is helping its clients prevent losses through data-driven strategies and the careful application of technological innovations. Pete Miller, CEO of The Institutes, welcomes Dorothy Doyle, Senior Vice President and General Manager of Risk Control Services for Liberty Mutual, to talk about how risk control is being enhanced and expanded today.

Dorothy talks about using risk assessments to redesign workflows and reduce losses. How risk control is evolving thanks to real-time indicators and emerging technologies. How Liberty Mutual leverages data scientists and predictive analytics to unlock hidden insights and help clients make informed business decisions. The importance of conducting statistically sound pilot programs to evaluate technological innovations before widespread implementation. And she talks about the importance of having a safety culture that drives clients to prevent losses and lower their cost of risk. Dorothy also highlights various technologies, such as machine learning, collaborative robotics, and wearable sensors, that are transforming the way businesses approach risk control.

Resources:

Liberty Mutual Risk Control website: https://business.libertymutual.com/services/risk-control/

Liberty Mutual’s Workplace Safety Index: https://business.libertymutual.com/wp-content/uploads/2023/08/WorkplaceSafetyIndex_WP.pdf

Predict & Prevent website: www.predictandprevent.org

Sign up for our weekly Predict & Prevent newsletter: www.predictandprevent.org/newsletter

Learn how one company is leveraging artificial intelligence and computer vision to not only improve workplace safety, but also to transform

the traditional workers' compensation insurance model. Pete Miller, CEO of The Institutes, talks with Josh Butler, CEO and Founder of CompScience, about how a focus on preventing losses creates a better outcome for insurers, brokers, employers and employees.

Josh shares his journey from working on self-driving car technology to founding CompScience, a company that uses AI and computer vision

to enhance workplace safety and reduce costs for businesses through a unique "active insurance" model. Josh discusses inspiration for the company. How safety recommendations are lowering accidents. The benefits to brokers of an enhanced workers’ comp policy. How CompScience differs from other safety tech. Plans to expand in general liability and construction sector. Why an MGA model helps adoption. The ROI in insurance of preventing losses.

Resources:

CompScience website: www.compscience.com

Predict & Prevent website: www.predictandprevent.org

Sign up for our weekly Predict & Prevent newsletter: www.predictandprevent.org/newsletter

Using advanced flood modeling technology to predict when storms and heavy rains will cause severe surface flooding can give businesses and communities the early warning they need to protect their assets, deploy mitigation efforts and get out of harm's way.

In this episode of the Predict & Prevent podcast, Pete Miller, CEO of The Institutes, talks with Dr. Avi Baruch, co-founder of Previsico, a company that provides early warning systems for flooding. Avi discusses the risk of flooding, with a focus on surface water or pluvial flooding, which is the largest flood risk and one that often catches people off guard.

Pete and Avi discuss the main types of flooding and how they impact preparedness. How Previsico's flood warning system differs from government warning systems. How Previsico's solution predicts surface flooding using event-specific modeling and sensors. The company’s expansion to the U.S. and globally. Integrating with insurers and their risk management services. Challenges and opportunities for insurers and their customers as they shift emphasis on prevention. And the importance of communication between insurers and their customers to effectively mitigate risks.

Resources:

Previsico website: https://previsico.com/

Predict & Prevent website: www.predictandprevent.org

Sign up for our weekly Predict & Prevent newsletter: www.predictandprevent.org/newsletter

Preventing distracted driving can dramatically reduce the volume of vehicle collisions, saving lives and reducing claims costs.

In the latest episode of the Predict & Prevent podcast, Pete Miller, CEO of The Institutes, sits down with Dr. Stefan Heck, CEO and Founder of Nauto, to discuss the future of transportation safety and the role of AI in preventing collisions. Stefan shared insights into Nauto's mission to reduce collision rates by two-thirds and provide invaluable data for insurers, vehicle manufacturers and companies with commercial fleets.

Pete and Stefan discuss why driver distraction is Nauto’s focus. How collision statistics undercount the prevalence of distracted driving. The role of AI and deep learning in collision prevention. Nauto’s technology and methodology. Challenges and opportunities with insurance integration. And the future of automotive safety.

Resources:

Nauto website: https://www.nauto.com/

Predict & Prevent website: www.predictandprevent.org

Sign up for our weekly Predict & Prevent newsletter: www.predictandprevent.org/newsletter

Where are advances in technology taking data and analytics and enhancing our ability to prevent potential losses? In this episode, host Pete Miller, CEO of The Institutes, talks with Nancy Greco, a Distinguished Engineer with IBM Research, about the evolution of risk data and artificial intelligence to predict and prevent losses that can disrupt operations. In the second half of the episode, Miller sits down with Matthew Kahn, President of Risk & Insurance, to review some of the key takeaways from the first season of the podcast and moderates an ask me anything (AMA) segment with Miller.

Segment 1: (02:30) In the first segment, Pete and Nancy discuss her career and role at IBM, the drivers shaping the evolution of risk data, a shift in focus to loss prediction, using Boston Dynamics’ robotic dog Spot in data collection, the advances brought by AI in data analysis, the promise of foundation models of AI, and achieving real-time loss intervention through AI.

Segment 1: (28:24) In the next segment, Pete and Matthew reflect on how the topics covered in season 1 of the podcast align with real world challenges, a growing emphasis on risk prevention, technological advances that aid risk management, the advantages of real-time data, the evolving landscape of insurance, the need for community and industry collaboration, demonstrating the ROI of adopting prevention tech, and the future of the predict and prevent model. They also field questions from our audience on predict and prevent.

A focus on prevention is just as critical to the success of a nearly 200-year old property insurer and its customers, as it is for a robotics startup that eliminates the fuel that allows wildfires to spread. In this episode, Pete talks with Randy Hodge, executive vice president, staff insurance operations for FM Global, and Anukool Lakhina, CEO and co-founder of BurnBot, about how each organization applies research and technology to proactively mitigate climate risk and make businesses and communities more resilient.

Segment 1: (01:52) Pete and Randy discuss how FM Global was founded on a belief that most losses are preventable, the benefits of pairing risk engineering with research, ideal customers aligned with insurer's philosophy of loss prevention, creating resilience credit to mitigate climate risk exposures, expanding suite of climate risk data and insights, adopting aerial imagery and AI for remote risk analysis, and the importance of investing in research to stay ahead of evolving risks.

Segment 2: (27:59) Pete talks with Anukool about personal wildfire experience that led he and his wife to create Wonder Labs, charting the intersection between disasters and emerging technology, using BurnBot’s advanced robotics to scale fuel treatment, the imbalance in resources for prevention vs. recovery, increasing investment in wildfire prevention innovations, and how insurance can incentivize fuel breaks and fuel treatments to harden landscapes.

Whether it’s making a community more resilient to disasters or helping an employer to reduce accidents in the warehouse, having the right data is key to focusing prevention efforts where they will have the greatest ROI. Join Host Pete Miller as he talks with Daniel Kaniewski, Managing Director-Public Sector of Marsh & McLennan and former deputy administrator of FEMA, and Alex Senemar, CEO and Co-Founder of Voxel AI, on how they are each working to transform the status quo and make communities and employees safer, and reduce the toll of paying for preventable losses.

Segment 1 (2:25): Pete and Daniel discuss a foundation of preparedness, mitigation and insurance, how FEMA shifted its focus to resilience from recovery, growing financial support for pre-disaster hazard mitigation, identifying other stakeholders vested in resilience, the importance of incentives, communicating the ROI of resilience, and the urgent need to close the resilience gap.

Segment 2 (21:59): Pete and Alex talk about the inspiration for Voxel AI, integrating artificial intelligence and computer vision technology within existing workflows, a comprehensive view of safety risks and hazards in real time, capturing near misses to identify preventable losses, effectively measuring improvements in safety, and building collaborations to inspire and reward safer behavior.

Improving risk data not only helps predict potential losses but also makes it possible to incentivize and measure risk prevention. In this episode, Pete talks with Kevin Stein, CEO and Co-Founder at Delos Insurance, and Sean Petterson, CEO and Founder of StrongArm Technologies, about how they are using data for insights that can predict potential losses from wildfires and unsafe worker activities.

Segment 1: (0:02:14) Pete and Kevin discuss how risk models aren’t keeping up with changes in wildfires, the power of AI for more precise forecasts, using data for mitigation recommendations and incentives, insurance challenges caused by deficient data, and why insurance must remain open to new approaches.

Segment 2: (0:27:57) Pete talks with Sean about his personal motivation to make workers safer, pivoting to wearables for actionable data, ergonomic movement analysis, real-time worker feedback to prevent risk, changing culture key to safety innovation, and using data to show the ROI of injury prevention.