Large mobile equipment and expensive hand tools can easily be misplaced or stolen. There are many GPS tracker solutions to help manage and recover assets, but tracking alone is not enough.
In addition to tracking, Smart Equipment transmits the following in real-time:
- On-board diagnostics including run-time, service needs, and fuel levels
- Usage metrics to enforce operator accountability and identify training opportunities
Smart Equipment data provides critical insights that drive Leif’s innovative data-driven discount pricing & Real-Time Risk Management™.
- Recover lost or stolen assets including heavy equipment and expensive hand tools
- Identify operators who are beating up your equipment
- Manage maintenance needs of all makes from a single dashboard
- Predict catastrophic engine failure
- Locate equipment that is susceptible to flash flooding and other weather-related risks
- Mitigate non-permissive use:
• 3rd party subcontractors
• 3rd party fault assignment
- Defend not-at-fault claims
- Driver scorecards to identify:
• Training opportunities
• Reckless driving patterns
- E-log Compliance
- Deters thieves from using your equipment to steal your material
- Segment your project using real-time insights
- Ensure trained workers are properly using your equipment
- Prevent untrained workers from hurting themselves
- Real-time net pay of suppliers
- Improved cashflow
- More efficient equipment fleet utilization
- Ability to generate forward-thinking budgets using verifiable reports
What is Real-TIme Risk Management™?
Conventional insurance carriers send a loss control employee to your jobsite to observe and make recommendations once or twice a year. Leif does it in real-time. Our proprietary flagging system turns data into actionable information to help you promote safety on your jobsite. Improved safety earns you Leif’s proprietary data-driven discount pricing. Your data is not shared with the carrier.
What is Data-Driven Discount Pricing?
Most insurance rates are based on a set of standard data points. We believe those data points do not tell the whole story. With the power of Smart Equipment insights, we identify and reward exceptional operators with data-driven discount pricing.
How does Real-Time Risk Management™ improve my bond capacity?
We all want to be better tomorrow than we are today. Traditional brokers base your bond capacity on historical information. Real-Time Risk Management gives our surety bond team more data than that. We use verifiable system outputs to project what will happen tomorrow - and maximize your capacity today.
How does Real-Time Risk Management™ save me money on my equipment insurance?
Monitoring your equipment more closely with Real-Time Risk Management™ shows your insurance carrier that you’re committed to better maintenance and loss control. Premiums are based on your business’s loss potential compared to the average for your industry and operation. Reducing your potential for most equipment losses sets you apart as “better than average.” Leif’s proprietary equipment insurance program rewards you with exclusive data-driven discount pricing and enhanced coverage solutions.
How does Real-Time Risk Management™ save me money on my worker’s compensation insurance?
Workers’ compensation is priced differently than other lines of coverage. Your insurance carrier selects your initial price point based on factors like business size, industry, longevity, and how your losses compare to other similar businesses. The additional factor specific to work comp is your experience modification, which reflects your unique claims experience. Both the experience modification and your initial price point are heavily influenced by your work comp loss history, so controlling your losses will directly affect your rate. Real-Time Risk Management™ gives you the Smart Equipment and tools you need to improve jobsite safety, lessen injuries, reduce your E-MOD and save even more money with Leif’s proprietary data-driven discounts up to 15%.
How does Real-Time Risk Management™ save me money on General Liability insurance?
Real-Time Risk Management™ allows you to exercise better control over jobsite liability by limiting non-permissive use of equipment. This reduces property damage and injury losses from trespassers and third-party subs. Better control over these exposures unlocks better rates with your insurance carrier, and even more savings with Leif’s proprietary data-driven discounts up to 15%.
How does Real-Time Risk Management™ save me money on my Builder’s Risk insurance?
Real-Time Risk Management™ helps you monitor and protect your valuable materials from theft in real-time. In addition, removing the ability to use a universal key for your equipment makes high-volume heists harder to facilitate. Reduced theft potential improves your risk factors which reduces your rates for Builder’s Risk insurance. Leif also gives you exclusive discounts up to 15%.
How does Real-Time Risk Management™ save me money on my commercial auto insurance?
Taking accident prevention measures and promoting safer driving can directly affect your auto insurance rates. Real-Time Risk Management™ gives you smarter tools to track reckless driving patterns and identify training opportunities with driver scorecards. It also gives you stronger data to help defend not-at-fault claims. Proactive driver safety management earns you lower auto insurance rates, and unlocks further savings with Leif’s exclusive data-driven discounts up to 15%.