JLT Specialty USA partners with Altumai on wearable tech
JLT Specialty USA has partnered with InsurTech player Altumai on wearable technology.
JLT Specialty USA has partnered with Altumai to assess how wearable technology can reduce worker compensation risk and reduce worker injuries in the food/agriculture industry.
JLT Specialty USA said the agricultural industry is facing many challenges including increasing regulation, weather volatility and a changing and reducing workforce.
These challenges are compounded by the additional necessities of ensuring worker safety and minimizing injury and long-term health consequences of a physically demanding job.
The insurance provider said the development of wearable devices is providing an opportunity to capture data that can be used to further understand the situations that lead to worker injury and illness related to the daily work tasks.
JLT is therefore working with Altumai to assess available solutions for their immediate and longer term potential to the agricultural industry and to develop recommendations and risk transfer solutions.
Douglas Turk, chief marketing officer at JLT Group, said: “Wearable technologies, analytics, and IOT are converging to create a unique opportunity to reduce worker compensation risk and improve worker safety. We are thrilled to be working with Altumai in this developing new world of IOT and Insurtech.”
Lars Skari, managing partner at Altumai, said: “Technology enabled solutions are providing the opportunity to capture significant value by offering capabilities that provide step-change improvements in risk modeling and transfer, fraud prevention, cost mitigation and worker health and safety.”