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Insurtech startup could reduce work injuries with new tech

Employers and employees in Louisiana are probably aware of the dangers they face in the workplace. Many are unforeseeable, which explains why on-the-job accidents cost businesses and insurers hundreds of billions of dollars each year in workers compensation claims. However, an insurtech startup based in Iowa is providing devices that may help reduce accidents and streamline the investigation of workers compensation claims.

MākuSafe has developed is a wearable band for employees that can record environmental and motion data, reporting it to a cloud platform and making it more consumable for workplace safety managers. Whenever there are near-misses, it will record those too. The greatest benefit is that thanks to machine learning, the devices can identify unsafe trends and hazardous areas.

This can prompt managers to be more proactive in setting up safety equipment and supplies where the need is greatest. These bands could also shorten downtime after incidents. It benefits insurers by giving them accurate information to consult when reviewing workers' comp claims or creating more accurate property and casualty insurance policies. Insurance agents can utilize it to improve their risk control strategies and prevent client loss.

Even when employers identify all the slip, trip and fall hazards as well as the harmful chemicals and contaminants that employees might be exposed to, accidents are still a possibility. Those who suffer an injury through no fault of the employer may still file a workers compensation claim. As a result, they may be reimbursed for immediate medical expenses and for a percentage of the income they lose during their physical recovery. It might be helpful to retain a lawyer for the filing process because victims must prove that the accident occurred in the workplace and that the injuries are related to the accident. The lawyer may file an appeal if the claim is denied.

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