Launching in October 2021, the futureWork joint venture powered by Tangram with an initial focus on Workers' Compensation will over time expand into additional lines of insurance.
altumAI's software improves worker health and safety based on worker specific data and insight that drives smarter risk prevention for better loss control and reduced losses.
"We are thrilled to partner with the Tangram team on this new tech-enabled program" said Douglas Turk, Co-Founder of altumAI. "Together we offer clients and partners an innovative technology and insurance program that predicts and avoids risk and provides a competitive insurance outcome utilizing our insight and data for reduced losses and expense. This is a game changer in Workers Comp and how we are able to underwrite other lines in the future."
The Tangram team of underwriting experts and specialists have the capabilities to reduce client's workers' compensation costs with the insights and data captured through altumAI's health and safety technology platform.
"We are constantly seeking opportunities to invest in the future of insurance and a big part of that opportunity is understanding, analyzing and underwriting human behavior" noted Rekha Skantharaja, President and CEO of Tangram Insurance. With altumAI's leading edge technology around human telematics and Tangram's dynamic underwriting and distribution infrastructure, futureWork is a powerful vehicle to build safer work environments and more profitable insurance programs."
The MGA will deploy futureWork to forward-thinking Program clients to improve their overall workers' compensation costs and enhance their safety culture.