Leading Digital Development & Distribution in High-Hazard Workers’ Comp

Workers’ compensation insurance is challenging enough in low-risk industries, but imagine covering sectors like construction and logging, where the risk of severe accidents is much higher. In this episode of InsureTech Geek, Basilios Manousogiannakis from Amerisafe explains how his company not only insures these dangerous industries but also partners with them to make their workplaces safer. Here’s the story of how Amerisafe is redefining the workers’ comp landscape.

The Challenge: Insuring the Most Dangerous Jobs

High-hazard industries are fraught with complexities. Unlike low-risk businesses, companies in sectors like construction, logging, and transportation face higher injury rates, making it much harder for insurers to underwrite policies. Amerisafe tackled this challenge head-on by focusing on two core strategies: safety management and digital innovation.

The Safety Solution

Amerisafe has built its business model around the idea that the best way to manage claims is to prevent them. Basilios explained how Amerisafe integrates deeply with clients by providing concierge-level safety services. These services include on-site risk management and safety evaluations, which help policyholders avoid costly accidents. The results speak for themselves: Amerisafe boasts some of the lowest combined ratios in the industry.

The Role of Technology

To complement their safety programs, Amerisafe employs cutting-edge technology, from AI-driven data analytics to virtual risk assessments. Basilios shared how these innovations streamline the underwriting process, making it faster and more accurate while improving risk prediction.

A Bright Future

Amerisafe’s success in insuring high-hazard sectors has not gone unnoticed. The company continues to grow, even in a softening market. Basilios attributes this growth to the company’s focus on customer relationships and ongoing digital innovation. Amerisafe is looking to further expand its reach through alternative distribution models and tech partnerships.

Dive into the full episode to learn more about how Amerisafe is shaping the future of insurance!