Smart Solutions for Large Construction Losses

Travelers red umbrella logo
By Travelers
63 minutes

Insight #1  |  Insight #2  |  Insight #3  |  Full Webinar Video

Large construction losses typically result from serious incidents that can endanger lives and bring major financial and reputational risks to companies. The good news is that technology can help provide effective ways to avoid injuries, accidents and damage to vehicles and equipment. By carefully assessing, selecting and implementing smart solutions, construction companies can enhance risk management and elevate safety standards. 

Unlock expert insights on preventing large construction claim losses

The construction world is fast-paced and ever-changing. That’s why having a clear understanding of potential risks and innovative solutions is crucial for contractors, as highlighted in these key insights from our Smart Solutions for Large Construction Losses webinar.

Insight #1

Top 3 Types of Large Construction Losses

Large losses in the construction industry typically result from catastrophic events and safety failures. These not only disrupt the project but can result in injuries and fatalities while impacting adjacent properties and infrastructure.

Thad Doyle, AVP of Construction Claim at Travelers, describes the main types of large construction losses, which may result from collapses, injuries, fatalities, workers compensation claims, structural defects and more.

Insight #2

AI in Construction

AI plays a significant role in technology’s future and is increasingly used to help improve safety in the construction industry.

Matt Abeles, VP of Construction Technology and Innovation at Associated Builders and Contractors (ABC), discusses how AI is the hottest topic in construction tech for ABC. He also shares specific examples of AI usage, including autonomous equipment.

Insight #3

Telematics, Equipment Tracking and Fleet Management

Telematics and AI in vehicles, digitized tracking and fleet management software can help mitigate risks on construction job sites.

Matt Abeles shows how some contractors are using autonomous equipment and various technologies for tracking equipment location and monitoring wear and tear.

Watch the full replay: Smart Solutions for Large Construction Losses

Watch the full webinar replay to explore this topic in-depth. Learn from our expert panel as they discuss how new technology can help mitigate large claim losses on construction job sites and help contractors protect their workers and assets.

Panel members

Moderator

Cori MacCallum
AVP, Construction Energy & Marine, Travelers

Speakers

Thad Doyle
AVP, Construction Claim, Travelers

Matt Abeles
VP, Construction Technology and Innovation, Associated Builders and Contractors

Mark Nowakowski
AVP, Risk Control, Travelers

Navigate to these timestamps in the full webinar below:

  • Types of large construction losses (3:38)
  • Common job site injuries and financial impacts (5:18)
  • AI and autonomous construction equipment (9:53)
  • Auto work zone injury risks and how to mitigate (15:55)
  • How equipment tracking and fleet monitoring systems can improve safety (18:17)
  • Injury risks and losses caused by heavy equipment (22:10)
  • Losses due to construction defects (29:45)
  • Project management software’s effect on construction performance (33:18)
  • Cyberattack threats to the construction industry (38:33)

Construction workers pouring concrete at a construction site.

Top stories

The Construction Risk Landscape

Every construction site has its risks. From work zone accidents to contractual risk transfer, explore how Travelers can help in this interactive risk landscape.

Related products & services

Our construction insurance products and services are designed to meet contractors’ unique and challenging exposures.

Travelers general liability insurance for businesses provides protection from a variety of claims.

More Prepare & Prevent

Tackling Rising Construction Insurance Claim Costs in the Wake of Labor Shortages

The construction industry is facing a rise in claim costs and continued labor shortages. Learn about these challenges and how Travelers can help mitigate losses.

Travelers logo on a red webinar background with the words "A Contractor’s Conundrum: Tackling Rising Claim Costs in the Wake of Labor Shortages" on it.

More Prepare & Prevent

5 Equipment Innovations Impacting Construction Business Operations

Recent innovations in construction equipment can provide contractors with new abilities and enhance safety and productivity. Explore equipment innovations that are making an impact in the construction business.

Female construction worker at job site looking at tablet.

More Prepare & Prevent

Strategies and Best Practices for Construction Fleet Safety

Motor vehicle accidents are a top source of injury for construction workers. Explore construction fleet safety strategies and best practices to help keep workers safe.

dump truck unloading - road closed sign
construction-innovation-promo-medium.jpg

Resources

Travelers Innovation Network for Construction

Take advantage of access to and discounts* from this specially curated collection of vendors and resources, available to Travelers customers.