No matter what industry employers in Kentucky work in, they probably see their fair share of safety hazards in the workplace. While some are foreseeable, others are not. In this country alone, workplace accidents continue to cost hundreds of billions of dollars each year in workers compensation claims. Across the world, these accidents take the lives of over 1,000 workers every day and injure more than 500 every minute.
Safety-minded employers and workplace safety managers may benefit from the new technology being brought out by an Iowa-based insurtech startup named MākuSafe. The company has recently developed a wearable band for workers that can track environmental data in real time, including changes in lighting and temperature, changes in levels of contaminants in the air and any near-misses and hazardous situations.
This data then gets transferred to a cloud platform where it's made consumable for the sake of safety managers. The platform will even identify hazardous trends for managers to focus on as they strive to reduce workplace accidents. This information could greatly reduce downtime after an accident and streamline reviews of workers' compensation claims.
Insurance companies looking to create more accurate property and casualty policies can benefit from the platform. It also works as a collaborative tool between businesses and insurers with the latter deploying their risk reduction resources based on actual claims.
In the event that workers are injured, they can still be eligible for workers compensation as long as they can prove that the accident occurred while on the job. They don't need to show if anyone was at fault, but they must waive their right to sue their employer if they settle for these benefits. Victims may want to hire a lawyer to make the filing process smoother and, if necessary, to make an appeal.