In Georgia and across the U.S., workplace accidents cost employers and insurers hundreds of billions of dollars each year in workers compensation benefits. Worldwide, workplace accidents lead to more than 1,000 deaths every day and over 500 injuries every minute. Wearable technology from MākuSafe, an insurtech SaaS startup in Des Moines, could be just what employers need to help reduce accidents in their workplace.
What MākuSafe has developed is a wearable band for workers that automatically records environmental data like changes in lighting and temperature and reports any near-misses and hazardous situations. It sends this information to a cloud platform where the data is made consumable and risky trends and areas are identified. Safety managers can use this information to equip high-risk areas with the proper equipment and supplies.
The tech can act as a collaboration tool for businesses and insurance companies. The latter will find it easier to investigate workers compensation claims by accessing the data stored on the platform, and they may also benefit from it when creating more accurate P&C policies. Insurance agents could use the data when implementing risk control strategies and addressing the problem of client loss.
Even when employers take adequate safety measures, accidents can happen. Regardless of who is at fault, victims can file for workers compensation and receive a percentage of the wages they lost. If their injuries are so severe that they need to learn a new trade, they might strive for a settlement that pays for these future expenses. In either case, victims may wish to retain a lawyer to streamline the process. It needs to be proven that the injuries resulted from the accident, and a lawyer might consult third-party experts to this end.