PLEASANTON, CA, July 28 2022 -- IIABCal is excited to announce its newest associate member, Foresight Group, a workers' compensation insurtech company with an award-winning safety management program. "As technological efficiencies continue to drive agents and brokers to new systems and platforms, insurtech firms will play a larger role assisting agents and brokers in better serving their customers," IIABCal President Bob Teshima said. "Foresight Group is one such company, and we welcome their knowledge, expertise and talent to our association."
Foresight Group’s co-founders David Fontain and Peter Grant set out on a mission to bring workers #homesafe at the end of a shift. Today they are helping deliver on that promise. Foresight provides innovative coverage, pricing, and safety coaching for America’s core industry sectors, like construction, manufacturing, and agribusiness.
Through Safesite, its no-cost risk management program and customer risk coaching/consulting service, Foresight gives policyholders the power to drive down their incident rates and insurance premiums—often the largest operating expense for businesses after payroll—through safety engagement.
"Policyholders receive a rating in the form of a Safesite Score which functions like a credit score for businesses that implement sound risk management practices," Fontain said. "The more clients engage with Safesite coaching and compliance activities, the better their potential to improve their Safesite Score, which is reflected report-card-style as an A, B, C, or D. Clients can earn premium savings in as little as one policy year—far faster than the traditional Ex-Mod approach to pricing workers compensation."
"We’re appointed with seven of the top 10 national commercial brokers, and while we’re best known across California, Texas, and the Southwest, we are rapidly expanding nationally, with additional state filings imminently planned," Grant said. "In terms of market share, Foresight has received submissions totalling approximately 16% of workers compensation business in the state of California in a little over our first year."
Why Join IIABCal?
“California is our largest territory with some of our most engaged brokers, as well as a fantastic representation of clients in the core industries we are focused on—Agribusiness, Construction, and Manufacturing,” said Matt Keeping, Head of Distribution for Foresight. “Becoming a member of IIABCal was both an honor and a no-brainer for us. We’re thrilled to join the ranks here.”
In early 2022, Foresight announced the completion of its $39 Million Series B Funding round, bringing the total investment raised to $59 Million to date.
Foresight’s co-founders said that always front-of-minds of the company’s team of talented insurance and safety professionals are the concerns of the brokers and clients they serve.
"Foresight launched mid-pandemic as a fully remote business with a strong focus on a solid balance sheet and driving value for all of its customers and partners," Fontain said. "Worker safety and mental well-being are also central tenants at the heart of the business. With a broker-dedicated distribution model, a commitment to safety and savings, and a truly differentiating safety technology, Foresight looks forward to serving the IIABCal as a workers comp partner that is changing the game for good."
For more information, visit https://getforesight.com/.