USI Insurance Services has announced the launch of its proprietary technology-enabled risk control platform called PATH.
PATH utilizes industry-specific benchmark data to produce bespoke risk control solutions for the firm’s clients. It will address organizations’ top claim drivers based on their respective industries, sub-verticals, size, and geography.
The data will be used to provide expert insights, customized solutions, quantified ROI, and vendors at the brokerage’s preferred pricing.
USI highlighted the challenges around the development of effective risk control strategies, especially in an evolving risk landscape. With these necessitating a balance between cost and complexity, USI believes that PATH can give businesses an edge to address their risk management gaps through an analytics-driven experience.
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“Unlike Benjamin Franklin’s famous quote about the certainty of death and taxes – injuries, accidents and disasters are avoidable,” USI chairman and CEO Michael Sicard (pictured) said. “Using cutting-edge, technology-enabled solutions, PATH empowers businesses to prevent and abate risks before they emerge, protecting your treasure and health, providing a clear understanding of where your risks exist, what causes them, how to minimize and stop them from happening, with clear financial impact all the way through to tactical execution.”
USI national technical resource and specialty practice leader Renee Dube also highlighted the importance of risk management in the current risk landscape.
“In an environment where risk management is more critical than ever, PATH sets a new standard by helping organizations transform their existing risk management strategies through targeted risk control guidance, access to exclusive vendor pricing, and dynamic financial modeling to assess the immediate and long-term economic impacts of different risk control solutions,” Dube said.
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