#United States #Sacramento #CompScience #CMTA #Bender Insurance

CompScience Partners with California Manufacturers

In a groundbreaking initiative aimed at transforming workplace safety and insurance affordability, CompScience has joined forces with Bender Insurance Solutions and the California Manufacturers & Technology Association (CMTA) to launch an innovative workers' compensation program tailored explicitly for manufacturers in California. This collaboration addresses the pressing challenge of rising insurance costs and high rates of workplace injuries that many businesses face across the state.

Growing Challenges for Manufacturers

California is home to over 35,000 manufacturers, primarily consisting of small to medium-sized enterprises. The rising costs associated with workers' compensation insurance and the frequency of workplace injuries have become significant hurdles for these businesses. In 2023 alone, California employers in the private sector reported approximately 364,000 cases of nonfatal workplace injuries and illnesses. CompScience seeks to alleviate these difficulties by offering sophisticated, data-driven solutions designed to enhance workplace safety, reduce financial burdens, and ultimately lower insurance costs.

AI Technology at the Core

A remarkable aspect of this new program is CompScience's integration of artificial intelligence technology. This advanced system works in conjunction with existing camera setups within manufacturing facilities, analyzing video footage to identify potential safety threats before they can escalate into serious incidents. By proactively addressing risks, this “active insurance” model aims to create a significant value proposition not only for employers but for employees as well.

Lance Hastings, President of CMTA, emphasized the relevance of this partnership, stating, “At this pivotal moment, manufacturers are under immense pressure to manage rising comp costs while maintaining safety standards. We have introduced an innovative insurance product that personalizes safety improvements and reduces claims costs for California manufacturers.”

Proven Results and Flexibility

Josh Butler, the Founder of CompScience, shared insights from their collaboration with various clients across industries, noting a notable 55% decrease in claims frequency among manufacturing clients. This statistic stands as a testament to the program’s efficacy in identifying and mitigating risks before they culminate in costly injuries or legal disputes.

The program, underwritten by AmTrust Financial Services Inc., one of the country's largest workers' compensation insurers, presents several advantages:

• - Comprehensive coverage across over 300 manufacturing classifications.
• - Competitive pricing tailored for cost-effective insurance solutions.
• - An exclusive 5% discount available to CMTA members.
• - Nationwide reach for multi-state manufacturers, broadening access to a robust safety partnership.

A Game-Changer in Insurance

Roland Guillen from Bender Insurance Solutions highlighted the significant impact of this initiative: “AmTrust delivers unmatched pricing and underwriting flexibility, making this program accessible to a wide array of manufacturers. It's a transformative opportunity for those looking for financial relief and a proactive safety partner.”

Next Steps for Manufacturers

For manufacturers seeking to enhance their safety measures while also addressing rising insurance costs, this innovative partnership offers a compelling solution. Interested businesses can reach out to Roland Guillen at [email protected] or by calling 916-380-5305 for more information.

About the Key Players

CompScience

CompScience is at the forefront of workers' compensation insurance, focusing on reducing costs for businesses by decreasing potential injury rates. The Intelligent Safety Platform utilizes bundled AI-powered safety analytics to conduct risk assessments and provide tailored recommendations, ultimately promoting safer and more productive workplaces.

Bender Insurance Solutions

Established in 1938, Bender Insurance Solutions represents Sacramento’s largest employee-owned brokerage, specializing in tailored insurance and risk management solutions to foster client success through integrity and exceptional service.

California Manufacturers & Technology Association (CMTA)

Since 1918, CMTA has championed pro-development legislation for California's manufacturing sector, which contributes approximately $300 billion to the state’s economy annually, employing over 1.3 million Californians with wages significantly higher than those in non-farming sectors.

This collaboration marks a significant leap towards a safer and more economically viable future for California manufacturers, setting a precedent that could resonate with industries beyond state lines.