Eyrus and Insight Risk Technologies Announce Construction and Builder's Risk IoT Alliance

Eyrus's Worksite Intelligence Platform joins with Insight Risk's Builder's Risk insurance plus RiskTech solutions offerings to provide risk managers with leading-edge loss avoidance and profit safeguarding strategies.

WASHINGTON, Aug. 15, 2024 /PRNewswire/ -- Eyrus and Insight Risk Technologies are excited to announce their alliance, pairing Eyrus' construction IoT platform with Insight Risk's Builder's Risk insurance and risk management services. Together, Eyrus and Insight Risk can rapidly implement technology and risk management strategies that reduce Builder's Risk premiums and deductibles, minimizing construction property losses and maximizing project financial performance.

As recent industries statistics show, water and fire are leading sources of loss on commercial construction sites, causing project timelines to be delayed, building costs to increase, and reputations to be damaged. Through this alliance, Eyrus and Insight Risk seek to prevent losses before they occur by deploying loss-minimizing solutions and delivering valuable data at a project management level and corporate initiative level.

Eyrus provides a comprehensive IoT and SaaS platform for construction workforce management and worksite monitoring by gathering data from video cameras, water/fire/CO2 sensors, weather services, and worker wearables that deliver real-time communication about safety, work time and attendance information, and AI-driven insights to drive worksite productivity. Their offering complements Insight Risk's deep experience in Builder's Risk insurance, IoT technology, and professional services, providing comprehensive end-to-end technology design, procurement, and deployment services to guide clients to their risk management goals.

"We save our customers a lot of time and money with automated workforce and worksite solutions. We want to bring them more value when it comes to risk management. We value our alliance with Insight Risk because of their value-add mentality – they don't stop at meeting insurance requirements and provide best-in-class insurance premiums, they are committed to providing cutting edge technology that brings value throughout the project lifecycle," said Hussein Cholkamy, COO of Eyrus.

"In an industry facing ever tighter margins, additional expenses on a project bid or insurance quote could result in losing the opportunity. Plus, the process of installing and managing new equipment means lost productivity, increased payroll, additional subcontractors to manage, and longer project timelines for all involved," shared Chad Hollingsworth, Co-Founder and President of Insight Risk. "Our alliance with Eyrus will benefit our customers so they have safer, better-connected job sites without additional cost, complexity, or disruption plus cost savings on their Builder's Risk insurance policy."

About Eyrus

The Eyrus Workforce Intelligence Platform brings together a significant set of worksite solutions that drive efficiencies on-site and drive initiatives in office:

Workforce Management Tools:

• Worker Registration and Onboarding
• Automated Time and Attendance
• Mass-Text Communication
• Evacuation and Mustering
• Safety and Fatigue Reporting
• Workforce Productivity Reporting
• Insurance and Regulatory Reporting

Worksite Security and Monitoring Tools:

• Access Control and Construction Turnstiles
• Video Surveillance and Monitoring
• Water, Temperature, Humidity Monitoring
• CO2 Monitoring
• Weather Monitoring
• Alert and Resolution Workflow and Reporting

Learn more about Eyrus at Eyrus.com.

About Insight Risk Technologies

Insight Risk Technologies is a technology-focused Builder's Risk MGA with a critical advantage: Our unique model bundles Internet of Things (IoT) loss control prevention solutions, comprehensive A+ rated insurance, and proactive risk management to reduce losses significantly and deliver value-added benefits to our policyholders and carrier partners. By offsetting upfront IoT technology costs with modest premium credits and lower water damage deductibles, we remove a major barrier to a safer and better-connected jobsite, helping our clients avoid losses altogether and minimizing the impact of unforeseen events. Our objective is to reduce water damage losses—the largest single component of the Builder's Risk loss ratio—by 90%. Learn more at insightrisktec.com.

Media Contact:
Scotty Greenburg
2067799747
[email protected]

SOURCE Eyrus