Everest Re’s net income soars in Q3 2016
Bermuda-based Everest Reinsurance has joined forces with industry veterans Glen and Todd Welch to form Salus Systems, a strategic partnership aimed at reducing workplace injuries.
The new entity will further develop and market ZERO, a collaborative risk management platform. ZERO is named for its creators’ desire to help companies and workers drive insurance claims down to ‘zero’ by improving communications amongst employees and empowering them to reduce and eliminate workplace safety issues.
ZERO includes a real-time mobile platform that engages and empowers all employees of participating companies to be active and contributing members of the company’s safety program as well as a new channel for workers to communicate instantly with their management to report potential safety issues and risk mitigation best practices.
It also uses a peer to peer inter-company sharing platform for safety-minded company leaders to create a community with others to share information and improve overall safety practices.
The ZERO platform is currently in use at several partner companies. In this new partnership, Salus Systems will market the ZERO system directly to safety conscious companies and to Everest Insurance insureds across the Everest Specialty P&C portfolio.
Jonathan Zaffino, president of the North American insurance operations, said, “ZERO engages businesses with key features of the sharing economy by empowering individuals linked via a mobile device. A company using this system, working independently - or together with other like-minded companies - can impact the number of incidents and lower overall insurance costs.”
Bill Thygeson, chief administrative officer, whose responsibilities include oversight of loss control, stated, “US employers spend more than $1 billion each week on nonfatal workplace injuries. Eight of the top ten causes of these injuries can be mitigated using this technology,” Thygeson added. “ZERO will help smaller companies attain the safety and protection status of the largest companies at a fraction of the cost. And larger companies can more effectively and efficiently establish, improve, and sustain a strong safety culture and improved workplace performance.”
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Everest Re, Reinsurance, Risk management, Glen Welch, Todd Welch, Bermuda