What:
Kinetic, the maker of a smart wearable device and software platform designed to reduce workplace injuries, is introducing Kinetic Insurance, a new subsidiary that will act as a program manager for offering workers’ compensation insurance underwritten by Nationwide
Why:
The Kinetic workers’ compensation insurance offering is designed to reduce injuries and losses while simultaneously maximizing a policyholder’s safety program and safety culture. Kinetic’s technology has been reported by Perr & Knight to reduce injury frequency up to 50-60% and lost workdays by 72%.
How:
- The smart wearable Kinetic Reflex device reduces the incidence of workplace injuries by automatically detecting unsafe postures and providing workers with real time feedback whenever a high-risk motion occurs.
- Workers can use Reflex to improve their biomechanics, resulting in fewer injuries and improved well-being. Safety managers can view risk data in the Kinetic dashboard, which can be used to make targeted changes to workplace processes that can help to reduce injury risk further.
- The Kinetic wearable technology is included at no extra cost with a Kinetic Insurance policy. A commitment is required on behalf of the policyholder to use the technology with their workforce.
- As an additional incentive, if the policyholder gets to a minimum device usage they have an option to opt into a generous dividend program, which could help them reduce their net premium even further.
- Policyholders can request quotes for workers’ compensation coverage from Kinetic Insurance appointed agents.