JLT Specialty USA, a subsidiary of Jardine Lloyd Thompson Group, is partnering with InsurTech startup Altumai to develop products aimed at reducing worker injuries in the food/agriculture industry.
JLT is working with Altumai to assess the potential of wearable devices to capture data that can be used to understand situations that might lead to worker injury and illness from daily work tasks and to develop recommendations and risk transfer solutions.
Altumai, which launched in May, uses the Internet of Things coupled with advanced analytics to help clients develop and deploy insurance-related products.
“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,” said Lars Skari, managing partner at Chicago-based Altumai.
Source: JLT Specialty