Eyrus and Insight Risk partner to reduce Builder’s Risk premiums with IoT solutions
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Eyrus and Insight Risk Technologies have announced their alliance, pairing Eyrus’ construction IoT platform with Insight Risk’s Builder’s Risk insurance and risk management services. Together, Eyrus and Insight Risk can implement technology and risk management strategies that reduce Builder’s Risk premiums and deductibles, minimising construction property losses and maximising project financial performance.
As recent industries statistics show, water and fire are leading sources of loss on commercial construction sites, causing project timelines to be delayed, building costs to increase and reputations to be damaged. Through this alliance, Eyrus and Insight Risk seek to prevent losses before they occur by deploying loss-minimising solutions and delivering valuable data at a project management level and corporate initiative level.
Eyrus provides a comprehensive IoT and SaaS platform for construction workforce management and worksite monitoring by gathering data from video cameras, water/fire/CO2 sensors, weather services and worker wearables that deliver real-time communication about safety, work time and attendance information and AI-driven insights to drive worksite productivity. Their offering complements Insight Risk’s deep experience in Builder’s Risk insurance, IoT technology and professional services, providing comprehensive end-to-end technology design, procurement and deployment services to guide clients to their risk management goals.
“We save our customers a lot of time and money with automated workforce and worksite solutions. We want to bring them more value when it comes to risk management. We value our alliance with Insight Risk because of their value-add mentality – they don’t stop at meeting insurance requirements and provide best-in-class insurance premiums, they are committed to providing cutting edge technology that brings value throughout the project lifecycle,” said Hussein Cholkamy, the COO of Eyrus.
“In an industry facing ever tighter margins, additional expenses on a project bid or insurance quote could result in losing the opportunity. Plus, the process of installing and managing new equipment means lost productivity, increased payroll, additional subcontractors to manage, and longer project timelines for all involved,” said Chad Hollingsworth, the co-founder and president of Insight Risk. “Our alliance with Eyrus will benefit our customers so they have safer, better-connected job sites without additional cost, complexity, or disruption plus cost savings on their Builder’s Risk insurance policy.”
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