Foresight Risk and Insurance Services
Foresight Risk and Insurance Services specializes in workers' compensation insurance, utilizing proprietary risk management technology to reduce claims frequency and improve workplace safety.
Services
Foresight Risk and Insurance Services specializes in workers' compensation insurance. They offer an array of services including a dedicated Safety Success Manager for each policyholder, no-cost safety coaching, and in-the-field technology. Their offerings include a virtual risk management and safety success coaching service, designed to streamline claims management and billing processes.
Risk Management Technology
Foresight utilizes proprietary risk management technology called Safesite. This technology includes a digital safety platform that features inspections, checklists, audits, safety meetings, incident reporting, and hazard management. The Safesite Score, a patented and award-winning system, is used to track safety behavior and provide a customized approach to improved safety engagement and loss reduction.
Coverage and Specializations
Foresight provides coverage across over 660 class codes, including industries such as construction, manufacturing, agriculture, and landscaping. They have a broad appetite for safety-critical industries and offer specialized coverage tailored to these sectors. Foresight's approach benefits from claims frequency reduction and competitive pricing.
Partnership with QBE North America
Foresight partners with QBE North America to write policies on select QBE entities’ paper. This collaboration enables them to leverage QBE’s established network and resources while maintaining competitive pricing and benefits for policyholders.
Claims Frequency Reduction
Based on an August 2023 actuarial study, Foresight has achieved a 17% average reduction in claims frequency. This reduction is attributed to their data-driven pricing, leveraging proprietary safety technology, and external sources. Their focus on reducing workplace incidents helps businesses drive down costs.