Compscience And Keystone Natural Foods Radically Improve Worker Safety

(MENAFN- PR Newswire) Harnessing AI to Transform Broker Relationships and Elevate Client Satisfaction

SAN FRANCISCO, Oct. 24, 2024 /PRNewswire/ -- CompScience, a managing general agent (MGA) backed by Nationwide, has released a
case study with Keystone Natural Holdings showing a dramatic reduction in the frequency of hazards in Keystone's manufacturing facilities. Under the CompScience workers' compensation policies, Keystone has received risk reduction recommendations generated by safety analytics provided as part of the coverage and implemented those workplace changes.

"We are required by law to buy workers' comp policies and we've always been focused on worker safety. When our insurance broker explained that CompScience bundles its safety program with coverage, we realized this approach not only made business sense but also significantly enhanced our company culture by prioritizing the well-being of our employees," explained Aaron Stamp, CEO, Keystone Natural Holdings.

Key statistics in the case study include:

• 43% reduction in ergonomic hazards in the Parsippany facility
• 9% reduction in ergonomic hazards in the Folcroft facility
• An actionable roadmap to address "struck by" and "slip/trip/fall" hazards

"At Acrisure we are very excited to be offering CompScience to forward-thinking, safety-conscious clients like Keystone. What CEO would not want to reduce premiums and injury rates?" asked Bruce Ball, Partner, Acrisure.

CompScience's active insurance has been shown to reduce its customers' claims by 24% in the first year. CompScience detects previously unreported workplace risks by analyzing existing client-provided workplace videos. This is achieved with AI, specifically a library of proprietary computer vision models built and trained to detect 50+ behavioral and environmental hazards.

"We're overjoyed to be releasing this case study from Keystone. We're dedicated to making workplaces safer with the goal of preventing 1 million injuries by 2030. We can achieve that by incentivizing a switch to our workers' comp policies that actively reduce claims and we can typically offer at a lower rate," says Josh Butler, CEO, CompScience.

"The success of the CompScience workers' comp program shows how powerful AI-driven safety analytics can be. By using CompScience's platform, our mutual insureds can significantly reduce workplace hazards while fostering a culture of safety and well-being among employees-which directly aligns with Nationwide's mission to protect and improve lives. We're excited to support such innovative initiatives," says Dale Hoppe, Vice President of Nationwide Workers' Compensation E&S/S Programs.

CompScience has grown 500% over the last year. Being a program underwriter puts CompScience in the unique position to reduce both risk and claims. With products serving "home-run" industries like food manufacturing, logistics, warehousing, retail, and auto dealers as well as new products expanding into construction and utilities, CompScience is forging a new path in active insurance for high-hazard verticals.

Read the full case study here .

About CompScience
CompScience Workers' Comp Insurance
reduces costs for businesses by limiting the probability of injuries. The Intelligent Safety Platform is based on bundled AI-powered safety analytics that provides risk assessment and recommendations to make workplaces safer and more productive.

About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products, including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities, mutual funds and EFTs; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance. For more information, visit . Follow Nationwide on Facebook and Twitter.

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SOURCE CompScience

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