Brickeye, Toronto provider of concrete maturity technology plus data analytics services, and iMitig8 Risk LLC, Atlanta-based risk engineering and loss control insurance software developer, have entered a strategic partnership focused on mitigating concrete defects and water damage on major construction projects. They seek to transform how construction risks are assessed and mitigated; help insureds and insurers reduce claim frequency and severity; and, lower builders risk insurance costs.
The Brickeye LumiCon mix monitoring solution provides remote and continuous access to timely data indicating fresh or curing concrete temperature and strength development. The cloud-based iMitig8risk Global Loss Control Platform helps engineers accurately assess process controls and risk management for builders risk projects. Data captured and analyzed shows specific areas of concern, identifies trends, and provides risk scores that can be improved through proactive action.
“With water damage and concrete quality among the most frequent and costly risks in construction, our technology plays a key role in proactively de-risking projects upfront at the time builders risk policies are bound, and mitigating job site incidents in real-time through early detection and informed action,” says Brickeye CEO Tim Angus. “By partnering with iMitig8risk, we’re enhancing visibility for insurers on the scope of Internet of Things risk controls being deployed on projects. This will improve the accuracy and efficiency of risk assessments, reducing claim frequency and severity, and ultimately bending the cost curve for builders risk insurance in the form of lower deductibles and [premium] savings.”
“Together we will enable insurers to better assess risk and incentivize insureds that adopt job site risk mitigation technology. By driving efficiency in risk assessment and improving risk scores, we can dramatically reduce the risk of water-related damage, as well as potential latent defects in concrete structures,” adds iMitig8 Risk CEO David Baxter.
Concrete practitioners have deployed the LumiCon platform on 1,000-plus projects worldwide.
ACCELERATOR TAKES NOTE
Brickeye has been named to the inaugural Foresight 50, recognizing Canada’s most investible cleantech ventures. An independent panel of judges selected companies based on their probability of success, plus potential environmental and employment impact. “This is a testament to the value and impact of Brickeye’s innovative software solutions,” says CEO Tim Angus. “We extend congratulations to our fellow cleantech leaders on the list, all of whom are contributing to a more sustainable and resilient future for Canada.”
The Foresight 50 is prepared by cleantech accelerator Foresight Canada, with Port Coquitlam and two other British Columbia offices, plus Calgary and Toronto satellite locations. Foresight Canada unites innovators, industry, investors, government and academia to support a global transition to a green economy. — https://foresightcac.com/foresight-50