Posted on 12 Apr 2013 by Neilson
A new strategic partnership between Willis Group Holdings plc, the global risk advisor and insurance broker, and Presage, a pioneer in Enterprise Behavioral Risk Management (EBRM), will help firms unlock powerful loss prevention strategies through a proprietary combination of behavioral psychology and predictive analytics.
Workplace accidents happen often. Studies show that 91% of all accidents are a result of human error. EBRM goes beyond the traditional enterprise risk management framework and focuses on understanding what drives people's behaviors and actions, what determines their decision making and how that impacts workplace safety. The Presage system utilizes proprietary software and an interactive data gathering method to serve as an early detection and warning system that enables companies to intervene and mitigate behavioral risk proactively. The system identifies who is at risk, why they are at risk, and where solutions need to be applied to keep employees safe and compliant.
The system is ideal for a variety of industries, including aviation, mining, health care, financial services, manufacturing and utilities. Case studies of firms utilizing Presage reveal the significant impact of the system:
- A major airline reduced its unstable approaches by 50%.
- A large electrical utility reduced injuries by 17% and eliminated work-related fatalities.
- A large food processor has eliminated product recalls for 10 years and eliminated loss-time injuries for 12 months.
Through its exclusive partnership with Presage, Willis is able to offer clients access to this ground-breaking tool in the context of the client's full risk management and loss control agenda.
Once the Presage tool identifies specific behavioral risks, Willis clients can work with their Willis Client Advocates to identify and implement solutions, such as developing training programs or implementing procedural design changes.
"Willis is excited to partner with Presage and deliver a powerful tool to help firms eliminate threats associated with human error," said Eric Joost, Chief Executive, Willis North America Specialties. "Industries demand a sophisticated tool and methodology for managing the direct and indirect costs associated with human error and the Presage solution represents an opportunity to significantly and proactively reduce human errors in the workplace. When combined with Willis' platform, we think this will deliver true value for clients," Joost added.
The Presage system will be demonstrated at the upcoming Risk and Insurance Management Society's Annual Conference and Exhibition. For more information visit http://www.willis.com/events/rims/index.html.