Wearable Technology as a Risk Management Tool

Posted on: July 29, 2016 by titan-goodrich

They’re definitely trendy, but wearable technologies are also useful for  a myriad tasks. From fitness trackers to VR headsets, it’s no wonder these devices have taken our culture by storm. However, could employers benefit from exploring wearable technology as a risk management tool? As we discuss how wearable technology can benefit your business, ensure your digital assets are protected with an up-to-date Virginia Cyber Liability Insurance policy.

How Wearable Technology Could Reduce Workers’ Comp Risks

According to the U.S. Bureau of Labor Statistics, there are more than 3 million nonfatal workplace injuries and illnesses reported by employers in the private sector. More than 95% of those incidents were injuries, and more than half led to lost days of work, job transfers, or disability restrictions. For employers, not only do workplace injuries harm productivity, it can also result in expensive workers’ comp claims.

By providing data about how employees’ muscles and heart rates respond to various stimuli, wearable technology has the ability to help employers identify red flags and improve them.  For example, sensors on wearable technologies can provide readings about when employees are straining their back muscles. Additionally, wearable fitness trackers encourage employees to be more active, which improves their health and productivity.

Technology is changing and so is the workplace. If you do not have a cyber liability insurance policy for your business, ensure your protected from potential risks that can cost you time and resources. If you do have a policy and haven’t had it evaluated lately, contact us at Goodrich & Watson for skilled assistance for all of your business insurance needs.

Posted in: blog Business Insurance Cyber Liability Insurance News Worker's Comp

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