By Milly Wallace ,
Senior Digital Partnerships Manager, Marsh Advisory
26/08/2024 · 4 minute read
For industries heavily reliant on frontline workers, such as the manufacturing, logistics, retail, construction, and utilities sectors, risk management plays a crucial role in ensuring the safety and well-being of employees. However, risk management — a manual and time-consuming process — can be affected by human error. Introducing risk technology can enable frontline workers to access powerful tools that significantly improves their safety, productivity, and overall work experience.
Typically, risk technology involves the use of software and hardware tools that are designed to help in the identification, analysis, and response to risk factors. Risk technology includes various components such as wearable devices, immersive training programmes, data analytics, and real-time monitoring systems — which can be further enhanced by artificial intelligence (AI). Adopting risk technology can help businesses control future outcomes, by taking measures proactively rather than reactively.
By leveraging these newer technologies, organisations can revolutionise their approach to risk management. The key benefits of risk technology include:
Risk technology can give workers a voice in overall business operations — empowering them to actively participate in identifying hazards, reporting near-misses, and suggesting improvements. This collaborative approach fosters a safety culture where workers feel valued and engaged in creating a safer work environment. By involving workers in risk management, employers can tap into their expertise and experience to create more effective risk mitigation strategies.
Risk technology is transforming the way frontline workers approach risk management, offering various methods to increase safety, productivity, and overall work experience.
As technology continues to advance, the potential for further improvements in risk technology is immense. It is important business leaders seize this opportunity to enable employees to thrive in a safer and more productive workplace. The challenge for organisations has progressed from how technology can support the deskless and frontline workforce, to what forms of technology should business leaders choose to support frontline workers carrying out their work duties.
To discuss how risk technology can benefit your organisation, please contact your Marsh adviser.
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28/07/2023