Predict & Prevent

🚀 RiskStream Launches Workers’ Compensation Fraud Working Group! 🚀 Join us for the kick-off session of our new initiative exploring AI and LLMs to combat workers’ compensation fraud. Goals: 🔹 Build innovative fraud prevention solutions. 🔹 Unlock new AI and LLM use cases for the industry. 📅 First Session: 12/10 from 12:00 - 1:00 PM EST 🔗 https://lnkd.in/eGvPfmb6 #InsuranceInnovation #WCDIGIT #WorkersComp #AI #LLM Cyahh Crowley Eric Phillips Bridget Craskey Jim Walsh Sandy Hampel Jessika Agyepong Patrick Schmid Joe Schwartz WC DIGIT Coalition

Revisit the episode that launched the Predict & Prevent podcast and hear themes that continue to be relevant for risk management and insurance today. In 'Existential Urgency,' host Peter Miller, CEO of The Institutes, sits down with Sean Kevelighan, CEO of the Insurance Information Institute, to discuss the urgent need for a focus on preventing losses before they become claims. They highlight how technology can help with this effort, and the importance of a collective responsibility to mitigate risks. Listen now, and catch up with other episodes you may have missed: https://lnkd.in/gZJp9zbT #riskmitigation #predictandprevent

As wildfire risks escalate, the insurance industry faces a new existential challenge. But innovative solutions are emerging, according to "Building Resilience: From Rooftops to Results," the latest episode of the Predict & Prevent podcast from The Institutes. The new Wildfire Prepared Home program, developed by IBHS, offers two designation levels focusing on critical elements like ember protection, defensible space, and non-combustible materials. Already active in California and Oregon, the program is gaining traction with major builders committing to these standards. This science-based approach could be the key to preventing devastating conflagrations that threaten both communities and insurers' sustainability. Join host Peter Miller, CEO of The Institutes, as he explores this crucial initiative with Roy Wright, president and CEO of Insurance Institute for Business & Home Safety - IBHS. Listen now: https://lnkd.in/gXSeEKAR #predictandprevent #wildfire #resilience

What makes Alabama the national leader in wind resilience? The state's remarkable success comes from a four-pillar approach that's transforming property protection: mandatory building codes in coastal counties, strong builder partnerships, insurance premium incentives, and an innovative grant program. The results speak volumes: 50,000+ FORTIFIED designations, with 83% driven by market demand rather than grants. Even more impressive? Properties are seeing 30%+ savings on wind premiums, backed by reduced loss ratios during severe weather events. Hear the full story on the latest "Predict & Prevent" podcast from The Institutes, where CEO Peter Miller Miller interviews Roy Wright, President of Insurance Institute for Business & Home Safety - IBHS, about this game-changing approach to resilience. Tune in to "Building Resilience: From Rooftops to Results," to learn how this successful model could transform #resilience in your market: https://lnkd.in/gXSeEKAR #windstorm #predictandprevent #hurricane #wildfire Strengthen Alabama Homes Program Lars Powell

Are we underestimating the financial impact of gun-related incidents on educational institutions? The statistics are sobering: 35 fatalities and 123 injuries on K-12 campuses during the 2023-24 academic year alone. But beyond these tragic human costs, educational institutions face significant financial burdens even in "best-case" scenarios where no shots are fired. In the latest episode of "Predict & Prevent," Timothy Fallon from ZeroEyes reveals how their AI-powered detection system integrates with existing security infrastructure to provide early warning of potential threats. More importantly, he discusses the development of parametric insurance solutions to address the unexpected costs these institutions face. This conversation between Fallon and The Institutes' CEO Peter Miller highlights the critical intersection of technology, risk management, and insurance innovation in addressing one of society's most pressing challenges. Listen now: https://lnkd.in/gWuT3wKq #predictandprevent #riskmanagement #schoolsafety #gunviolence #AI

In an era where gun violence continues to plague American society, how one innovative technology company is stepping up to address this persistent challenge is the focus of “AI on Guard: Stopping Gun Violence Before It Starts,” the latest episode of the Predict & Prevent podcast from The Institutes. Host Peter Miller, CEO of The Institutes, talks with Timothy Fallon, VP of Strategic Initiatives at ZeroEyes, on how artificial intelligence and human verification are being combined to create proactive solutions for gun violence prevention. Fallon explains the operational process of detection, verification, and alerting relevant authorities, emphasizing the importance of a "human in the loop" in assessing threats. He also talks about alignment with the mission of insurance, and exploring partnerships with the industry. Listen now: https://lnkd.in/gWuT3wKq #riskmanagement #gunviolence #schoolsafety #computervision

The insurance industry faces growing challenges from #wildfires, but a new wave of technology-driven solutions offers hope. The latest episode of the "Predict & Prevent" podcast by The Institutes delves into this critical topic and how #firetech companies are addressing it. Host Peter Miller, CEO of The Institutes, speaks with Bill Clerico, founder of Convective Capital, about how firetech startups and entrepreneurs are making a difference in improving community resilience, mitigating risk and enabling a safer and faster response to fires. To be effective, though, requires greater collaboration among all stakeholders, including insurers. “There's just so much interconnection between, you know, that transmission line that starts the fire, the government agencies that try to intervene, the community located nearby, the recovery effort. The problem itself is really intertwined,” Clerico said. Listen to the full episode here, or wherever you get your podcasts: https://lnkd.in/gM2ZEKmg

Are insurers missing out on a billion-dollar opportunity in wildfire risk mitigation? As wildfires continue to pose significant challenges for the insurance industry, innovative technologies are emerging to address this growing threat. The latest episode of the "Predict & Prevent" podcast, presented by The Institutes, explores how firetech startups are revolutionizing wildfire risk management. Host Peter Miller, CEO of The Institutes, interviews Bill Clerico, founder of Convective Capital, who shares a compelling insight: insurers could drive substantial ROI by funding pilot programs to evaluate the effectiveness of various risk mitigation technologies. Clerico suggests that insurers could allocate $10 million in credits to policyholders in high-risk areas for conducting mitigation efforts. By collecting and analyzing data from these trials, insurers could potentially save billions of dollars over the next two decades. This approach not only demonstrates proactive risk management but also positions insurers at the forefront of technological innovation in the industry. Tune in to the full episode of "Predict & Prevent" to discover more about the future of wildfire risk management and how it could reshape the insurance landscape. Listen now: https://lnkd.in/gM2ZEKmg

🏆 Breaking News: The Predict & Prevent podcast just joined the ranks of PropertyCasualty360’s Insurance Luminaries Class of 2024 in the category of Risk Management Innovation! What's the secret behind this recognition? It's all about flipping the script on risk management. Instead of playing catch-up after losses occur, this podcast is championing a proactive approach to avoid losses and make us safer. The Predict & Prevent podcast explores how insurers and tech innovators are making it happen. As Peter Miller, CEO of The Institutes, puts it: "We're shifting from reactive responses to a forward-looking, preventative mindset." This isn't just about avoiding losses; it's about building a safer, more resilient future for all of us. Tune into the Predict & Prevent podcast and join the conversation that's reshaping the insurance industry. https://lnkd.in/g_h6dZKC #InsuranceInnovation #RiskManagement #PredictAndPrevent

Discover how the insurance industry is shifting from reactive to proactive in disaster management. In the latest Predict & Prevent podcast episode, Mark Berven, President and COO of Nationwide, joins host Peter Miller, CEO of The Institutes, to discuss building a disaster-resistant future. Key insights include: >The importance of risk mitigation and improved building codes > Innovative technologies for loss prevention > Adopting a long-term perspective on risk management Berven emphasizes the need for proactive steps to avoid losses and highlights Nationwide's efforts to raise awareness about resilient building practices. With only 35% of U.S. communities having adopted building codes, there's significant room for improvement. Ready to learn more about creating resilient communities? Listen to "Code for Success: Building a Disaster-Resistant Future" at https://lnkd.in/duqeCBNK