(Image source: altumAI homepage.)
altumAI, a Chicago-based provider of worker health and safety software and analytics, has appointed insurance industry veteran Peter. H. Foley to the role of Group Insurance Officer.
Based in New York City, Foley has joined the altumAI executive leadership team with the task of building out the altumAI futureWork solution. The vendor describes futureWork as combining its leading-edge worker health and safety technology for risk avoidance for a new workers’ comp user experience and insurance outcome.
Foley brings over 35 years of financial services experience with a major focus on the property/casualty, specialty A&H, reinsurance and alternative risk sectors, including 11 years working in London, with the responsibility for North America, Europe, Middle East, and Far East. Foley has extensive experience in the design and management of alternative risk companies program structures, on- and offshore covering a variety of sectors.
The vendor reports that its altumAI futureWork solution is first-to-market with its Connected Risk Platform and apps that predict and avoids risk at an individual worker level. The solution supports the goal of an improved work comp insurance outcome through a reduction in frequency and severity of losses, altumAI says.
Mission to Redefine Workers’ Comp
“We are thrilled to welcome Peter to the altumAI team,” comments Douglas Turk, CEO, altumAI. “Peter has significant industry knowledge and M&A experience that supports our mission to redefine workers’ comp with a streamlined, digital-first user experience and proven, proprietary technology and AI to create insights and action to systemically shift the risk curve.”
The futureWork MGA allows employees to Work Safe and Save Money by reducing loss frequency reduction, loss severity improvement and better injury-illness prevention to reduce the total cost of risk, the vendor says.