AXA XL’s North America Construction insurance business is set to introduce a new integrated digital platform for contractors called Construction Ecosystem.
This platform will help contractors to manage risks on the jobsites and across their organisations using innovative construction technologies to monitor and aggregate data.
AXA XL’s Construction Ecosystem will offer the contractors a range of information including industry benchmarking, auto and casualty claims comparison, forecasted weather risks and historical weather data.
They will also be provided with project-specific analytics and integrated data from third-party technology as provided by customers.
The platform also includes a Tech Library to assist clients with identifying technologies and services that will improve job-site performance and safety.
Beginning in June, the company will offer the platform to a number of its current contractor clients to receive initial feedback on the platform. A wider launch is planned for later this year.
AXA XL’s North America Construction business president Gary Kaplan said: “The construction industry may have a reputation of being slow to adapt to technology, but that’s about to change. In today’s highly-competitive construction market, contractors are busy, having little time or money to vet new technologies to make sure they are right for their operations.
“In creating the Construction Ecosystem, we have pulled together curated technologies that we believe will have potentially significant risk-reducing impact for the investment and to help our clients more effectively protect their people, projects and profitability so they can successfully build and rebuild North America.”
AXA XL’s platform utilises collective information and data from several industry and technology partners including Sedgwick, Athenium Analytics, Pillar Technologies, OnSite IQ, Triax and Water Intelligence (WINT).
Earlier this year, the company launched a new insurance solution to cover the risks associated with autonomous vehicles.