Description
In this session, we'll explore a study by Shepherd Construction and top construction technology partners, demonstrating how software impacts contractor loss rates. Focusing on tools like Autodesk Build software, this research analyzed more than a decade of loss data from 1,000+ contractors to empirically show that tech-forward contractors are lower insurance risks. We'll outline the study's methodologies, its key findings, and the broader implications for risk assessment in the construction industry. Participants will gain insights into the risk management ROI from these technologies, with a focus on those that significantly reduce claims. We'll discuss actionable strategies that contractors can implement to use technology for substantial insurance premium savings. Additionally, we'll showcase how Shepherd integrates this data into its underwriting processes to benefit contractors.
Key Learnings
- Learn about construction technologies that correlate with reduced loss rates in construction.
- Learn how to use empirical data to implement tech solutions that decrease claims frequency and severity.
- Learn how to include your construction tech data into underwriting processes for reduced premiums.