Foresight provides workers’ compensation insurance leveraging AI-powered underwriting for core industries like construction and manufacturing. The company integrates the Safesite risk management platform to actively prevent workplace injuries and reduce claims frequency. This safety-driven approach helps brokers retain business by delivering superior loss reduction outcomes for employers.
Funding
$59.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Employers in safety-critical industries face high costs associated with workplace accidents, including workers' compensation claims, lost productivity, and potential legal liabilities. Traditional workers' compensation insurance often lacks proactive risk management tools to prevent incidents before they occur.
Solution
Foresight Risk and Insurance Services provides workers' compensation insurance combined with a risk management platform, Safesite, and dedicated safety coaching. By integrating technology and safety expertise, Foresight helps employers proactively identify and mitigate workplace hazards, reducing the frequency and severity of incidents. The Safesite platform enables real-time tracking of safety performance, allowing for data-driven decision-making and continuous improvement in safety protocols. This integrated approach results in fewer claims, lower costs, and a safer work environment for employees. Foresight specializes in safety-critical industries, offering tailored solutions to address the unique challenges of each sector.
Target Audience
Foresight targets employers in safety-critical industries, such as construction, manufacturing, agriculture, and landscaping, who are seeking to reduce workers' compensation costs and improve workplace safety.
Features
- Workers' compensation insurance underwritten by QBE Insurance Corporation, Praetorian Insurance Company, and North Point Insurance Company
- Safesite risk management platform for tracking and improving safety behavior
- Mobile app for employees to report hazards, complete inspections, and access safety resources
- Virtual safety coaching services to provide personalized guidance and support
- Patented Safesite Score to measure and benchmark safety performance
- Data-driven insights and reporting to identify trends and areas for improvement
- Specialization in safety-critical industries such as construction, manufacturing, agriculture, and landscaping