And a work site with fewer injuries drives down workers compensation premiums for the policyholder and drives up profitability for the insurer. “With its Safesite mobile application, Foresight has the ability to drive behavior change among its insureds to foster a safer work environment. “Insurance innovation has rarely found its way to hard-to-place businesses in the construction, manufacturing and agriculture segments of our economy, but that’s exactly what Foresight has been revolutionizing,” comments Michael Yang, Managing Partner, OMERS Ventures. “Foresight and Safesite bring unparalleled value to the work comp market, in a space where incumbents have been somewhat limited from a service standpoint for quite some time,” adds Peter Grant, CEO and Co-Founder, Safesite. “From securing appointments with 13 of the top 15 property and casualty brokers in the U.S., to bringing nearly $1 billion in submissions in the door, to attracting and retaining top industry talent, we’ve hit our stride while growing sustainably,” comments David Fontain, CEO and Co-Founder, Foresight. Foresight reports that it has demonstrated a reduction in the frequency of policyholders’ workplace safety incidents by an average of 31 percent. Together, Foresight and Safesite tie safety engagement to insurance savings, removing cost as a prohibitor for businesses on a journey toward eliminating workplace accidents. The round included participation by new entrants Digital Garage Ventures and the George Kaiser Family Foundation, and continuing participation by Brick and Mortar Ventures and Builders VC, bringing the total raised to date to $59 million.įoresight Group describes Foresight as the first workers compensation InsurTech to focus on the middle market, and Safesite, a risk management platform.
#FORESIGHT GROUP SERIES#
Foresight Group (San Francisco), an insurer of high-hazard clients has announced its completion of a $39 million Series B Round for its Foresight technology-based workers’ compensation program, led by OMERS Ventures (Toronto).
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