Eyrus and Insight Risk Technologies have formed a strategic alliance to deliver innovative solutions for the construction industry. By combining Eyrus’ construction IoT platform with Insight Risk’s Builder’s Risk insurance and risk management services, the partnership aims to reduce construction property losses, minimize project delays, and enhance overall financial performance.
Water and fire-related incidents are leading causes of losses on construction sites, resulting in significant financial implications for contractors. Eyrus and Insight Risk aim to prevent these losses through the deployment of advanced IoT technology and data-driven risk management strategies.
Eyrus’ platform provides real-time monitoring of construction sites through video cameras, sensors, and worker wearables. This data-rich environment enables proactive identification and mitigation of potential risks, such as safety hazards, equipment malfunctions, and environmental threats.
Insight Risk brings deep expertise in Builder’s Risk insurance and risk management to the partnership. The company’s comprehensive services, combined with Eyrus’ IoT platform, offer clients a holistic approach to managing construction risks.
“We save our customers a lot of time and money with automated workforce and worksite solutions. We want to bring them more value when it comes to risk management. We value our alliance with Insight Risk because of their value-add mentality – they don’t stop at meeting insurance requirements and provide best-in-class insurance premiums, they are committed to providing cutting edge technology that brings value throughout the project lifecycle,” said Hussein Cholkamy, COO of Eyrus.
“In an industry facing ever tighter margins, additional expenses on a project bid or insurance quote could result in losing the opportunity. Plus, the process of installing and managing new equipment means lost productivity, increased payroll, additional subcontractors to manage, and longer project timelines for all involved,” shared Chad Hollingsworth, Co-Founder and President of Insight Risk. “Our alliance with Eyrus will benefit our customers so they have safer, better-connected job sites without additional cost, complexity, or disruption plus cost savings on their Builder’s Risk insurance policy.”
The Eyrus and Insight Risk alliance is poised to redefine the construction industry by providing innovative solutions that enhance safety, efficiency, and profitability.
