![]() Last year we saw clients increase their monthly safety actions by 330% in safety activity with Safesite. “Foresight and Safesite bring unparalleled value to the work comp market, in a space where incumbents have been somewhat limited from a service standpoint for quite some time. We’re eager to show all of our stakeholders what’s in store for year two and beyond.” – David Fontain, CEO and co-founder of Foresight. We’ve stuck firmly to our core mission – delivering our policyholder clients a reduction in workplace safety incidents and a reduction in premiums. “From securing appointments with 13 of the top 15 property and casualty brokers in the U.S., to bringing nearly $1 billion in submissions in the door, to attracting and retaining top industry talent, we’ve hit our stride while growing sustainably. In addition to geographic expansion, Foresight’s 2022 strategic targets include exploring adjacent commercial lines of business to complement their workers compensation product, and continuing to source “the best underwriting, business development, and insurance talent across the US.” Foresight demonstrated a reduction in the frequency of policyholders’ workplace safety incidents by an average of 31%, and its combined ratio and loss ratio at the close of its first year of underwriting was 82% and 61%, respectively. The combination of Foresight and Safesite is delivering positive results according to numbers shared by the startup. Every Foresight policy comes with free access to Safesite, where companies can conduct safety inspections and manage and track safety engagement, among other things. Past investors Brick and Mortar Ventures and Builders VC also participated in the round, which brings Foresight’s total funding to date to $59 million.įoresight is licensed in California, Texas, Arizona, Nevada, New Mexico, Oklahoma, Arkansas, and Louisiana, with an appetite for construction and trades, agriculture, manufacturing, and light industrial. The round was led by OMERS Ventures, with participation from new investors Digital Garage Ventures and the George Kaiser Family Foundation. Has secured $39 million in Series B funding. ![]() 239: Corporate Foresight – A Delphi StudyĮFP Brief No.Safesite Foresight Group raises $39 millionįoresight Group, which includes workers compensation insurance startup Foresight Commercial Insurance Measurability, the capability to tie in with other methods, the scalability of the method and possibilities for collaboration are important.ĮFP Brief No. The identification of these problem areas made it possible to derive a set of requirements that the methods of future studies have to meet so as to be applicable to businesses: they have to be easily learnable, transparent, motivational and easily communicable. Among the reasons for these problems are lack of knowledge, processes that take too long, limited human and financial resources as well as difficulties in communicating the results. The methodological design and the implementation of the methods often prove to be difficult. There are specific challenges in applying the methods of future studies in businesses. This is due to the complexity of internal and external structures, and extensive focus on current technologies that lead to cognitive inertia that inhibits organizations to perceive emerging technological breakthroughs. This lock-in usually goes hand in hand with a certain level of inertia within the corporation, especially if it is a vey large organisation. Large organizations often suffer from a “lock-in” situation, meaning the inherent “ignorance” that results from a time frame that is too short for corporate strategic-planning cycles to produce a timely response, the failure to detect changes in the corporate environment, an overflow of information that prevents top management to assess the potential impact, important information that does not reach the appropriate management level, and instead is systematically filtered by middle management that aims to protect their business unit. ![]()
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