Tag Archives: prima

Essential Elements on School Risk Control

At the 2017 annual PRIMA conference, Ariel Jenkins and Kevin O’Sadnick of Safety National led a conversation on the essential elements of school risk control programs.

School visitor management consists of entrance hardening (add extra set of doors or windows, and visitors have to check in), criteria for visitors (parents, teacher visitors and grandparents), 100% use of photo ID for staff/visitors and use of security cameras.

Violent, Combative and Disruptive Students

De-escalation/assault cycle training should be able to recognize this behavior and early intervention and keep an event from getting out of hand. There need to be clear protocols that consist of restraint training and use of school resource officers. Violence against teachers needs to be reported and documented.

See also: Future of Insurance: Risk Pools of One  

Active Shooter Event

Effective methods to reduce active shooters events are visitor screening procedures, school/district website content, training for staff (Run,Hide, Fight method), and lockdown procedures (general or emergency lockdown). Post-incident procedures include an emergency communication (is there a procedure in place and specific to each event?), PR/news/press releases and crisis and grief counseling.

Controlling Special Education Risks

  • 46% alleged discrimination against students with disabilities
  • Claim of not receiving “free appropriate public education”
  • Increased complaints related to retained and isolation

Is a special education teacher considered a high-risk job? Yes. There is more emphasis on motor skills learning activities. A student-assisted transfer requires hands-on physical assistance to move a student. The risk of these are biting, hitting and back injuries. The transfers are not normally voluntary. In a school setting, the safe patient handling policy should address the use of mechanical devices to the place of manually lifting and transferring students with disabilities. Training in positive behavior management and de-escalation. For a lift policy, best practices is 30 to 35 pounds maximum lift without equipment and no two-person lifts or transfers without using equipment. If a student cannot safely, reliably and cooperatively stand and pivot for a student-assisted transfer, use adaptive mobility devices.

Social Media and Bullying

There are different measures and different trends we can look at to create student and teacher interaction policies. Make sure to document any instances that occur. There are outside vendors that have training for monitoring social media. There need to be consequences and repercussions for bullying and social media intimidation. These policies and procedures need to be shared with parents.

See also: Space, Aviation Risks and Higher Education  

Risk management is ever-changing and evolving in K-12 schools. It is vital to stay informed and stay on top of emerging issues that can affect the safety of the staff and students in your school districts. It is important to create policies and procedures to ensure the safety of all involved.

Insurtech: How to Keep Insurance Relevant

In the age of the fourth industrial revolution, risks are changing. The advent of technology has made digital assets more valuable than physical ones.

In this scenario, the insurance sector has been increasingly left to deal with technological change and disruption and is having to reconsider the way it defines itself. Having had the opportunity to discuss this transformation in more than 15 countries, I have seen that insurtech is helping to redefine the way the insurance industry is perceived.

Insurance is about providing protection for people in life and in employment. It is about providing a contract where someone promises to indemnify another against loss or damage from an uncertain event, as long as a premium is paid to obtain this coverage – the concept has been around since 1347.

It’s unthinkable for an insurer today not to ask how to evolve its business architecture by thinking which modules within the value chain should be transformed or reinvented via technology and data usage. I believe all the players in the insurance arena will be insurtech – that is, organizations where technology will prevail as the key enabler for the achievement of the strategic goals.

See also: Core Systems and Insurtech (Part 1)  

Insurtech startups have received more than $18 billion in funding to date, according to Venture Scanner data. Fantastic teams and interesting new insurance cases have been grabbing the attention of analysts.

Full-stack insurtech startups are generating a lot of excitement in the investor community and attracting relevant funds, and some have achieved stellar valuations, with Oscar, Lemonade, Sonnet, Alan, Element, Zhong An some of the most fascinating players. It looks like the aim of disrupting the status quo, combined with a skepticism about the incumbents’ ability to innovate, is focusing the attention on players to create new insurance products.

A business model adopted by more and more players is the MGA/MGU approach (Managing General Agents/Managing General Underwriter), a way to satisfy investor appetite for players covering a large part of the activities in the insurance value chain and partnering only with an incumbent for receiving underwriting capacity. Trov, Slice, so-sure, Insure the Box, Root, Bought By Many and Prima are some examples of this approach.

I am positive about the ability of the incumbents to innovate, and about the potential for incumbents and insurtech startups to collaborate. This view is based, for example, on the impressive international success of players such as Guidewire and Octo Telematics. I believe service providers for the insurance sector will be more successful in scaling at an international level than the other models described above. This kind of collaboration is leveraging on the incumbents’ technical knowledge and their customers’ trust, which has frequently been underestimated by insurtech enthusiasts. The most relevant opportunity is the collaboration between incumbents and specialized tech players capable of enabling the incumbents’ innovation in the different steps of the business model.

Denim for the awareness, Digital Fineprint for the choice, Neosurance for the purchase, MotionCloud for the claims, Pypestream for the policy management – these are a few players innovating on each step of the customer journey, based on my map to classify the insurtech initiatives.

For insurtech startups to outperform traditional insurance companies, they need to have their business models concentrated in what I call the four axes (4 Ps): productivity, profitability, proximity and persistency.

An excellent example is Discovery Holding, with its Vitality wellbeing program. This has been replicated in different business lines and countries with different business models – they are carriers in some countries, operate joint ventures with local insurers in other regions and are a service provider in other nations. They are using state-of-the-art technologies such as wearables and telematics to create a model based on value creation outperforming on all the four Ps, enabling them to share value with their customers through incentives and discounts.

See also: What’s Your Game Plan for Insurtech?  

Insurtech adoption will make the insurance sector stronger and in that way more able to achieve its strategic goal: to protect the way people’s lives and organizations work.