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IoT PropTech Summit 2020 : Panel 6
IoT has encouraged the industry to adapt to change at a much faster rate than it has ever before. We are now getting huge exposure to new ways of doing business, adapting, and learning in the process.
I began my career as one of the three original founders of CHMM Inc. CHMM Inc. launched Hazardous Materials Management (now HazMat Management) magazine in 1989 which quickly became Canada's leading publication for pollution prevention and control. In 1996, Solid Waste & Recycling was launched and also became the leading Canadian publication on collection, hauling, processing and disposal. In 1999, my partners and I sold CHMM Inc. to Business Information Group in Toronto.View the profile
Specialized Professional Competencies: • Internet of Things (IoT) hardware, firmware, solution archtectures, APIs, and related technologies • Requirements collection and scoping, and management, and delivery of IoT projects • Smart Cities, smart buildings, smart infrastrcuture, and IIoT • Data analytics, machine learning, automation, and custom software development • Forensic investigation of mechanical failures, root cause analysis, troubleshooting, and anomaly detection using large real-world datasets • Technical report writing, protocol development, and design of experimentView the profile
Consulting services for BMS, building energy and integration. My primary focus is on assessing existing strategies of associated projects and analyze their performances. With an MBA from Rotman, specializing in Operations Management, I look towards optimizing process workflows and operational functions.View the profile
You know. Hello everyone. My name is Arnie guess and I am your moderator today for a panel number 6. Rewriting the rules art design standards. And I am the President and publisher of a website for the construction building industry and is called construction links Network. And I am looking forward to being your moderator. This afternoon. I wanted to thank everyone for coming out and sorry if I got to read my notes a little bit here, but that's the way it has to be and this webinar is being recorded. So
everyone knows I just some people can't make it and will they can come in and be later like you can as well. so, I will be taking some classes at the end of the The webinar of the session here today, and if you have any questions just tap the q-and-a function, it at the bottom of your screen there and type of way and will reserve a 10 minutes. To go over some questions at the end of the session. So now I'd like to Introduce our panelists and we'll have Glenn go first Glen Burnie. Thank you to everybody for attending today.
I'm special. For those of you who've been following along all day. Are you finally got to the part where we get to find out if they left the best for last? So we'll see how that goes. Me for about 2 years now, and I direct the product development, which includes our existing Suite of products, as well as burning on new in Newnan Aveda products in line up. I also heads up the data analytics team here, which is responsible for reporting analytics and all things. They do prior to this. I was in engineering Consulting working
out building, operational analytics, as well as Submariner cost, allocation for large commercial clients. And prior to that. I spent the better half of a decade working in friends. Again, January. We're investigating losses for primary Insurance clients, and that included mechanical failures fire investigations as well as equipment loss arising from. Those claims are very excited to be here today at discussing out to you with everyone. Okay, Kevin Go ahead. Everyone. My name is Kevin. Furlough construction risk, engineer, 4xxl
Insurance a division of AXA been with Axel for about five years and my focus is on the Builder's risk or construction property business line prior to access. I was with Zurich for 7 years. And before that. I was in the School of Hard Knocks, otherwise known as the construction industry, so I was in construction for 27 years and how to keep people like Glenn busy investigating losses, so Okay, thank you, Kevin. And I hope it's like, go ahead and Release Yourself, please.
I lead. Their analytics, is an integration project business. A lot of my job is kind of working with various other systems, getting them to work with each other fish lately and, you know, make a make them more valuable as individually. Thank you. So I wanted to welcome everyone joining us here today. It's a different world. Certainly. We're everyone's virtually. I am personally in minus 10 Elberta here, near Calgary and if anyone wants some snow will send of your way. I'd like to before
I start asking questions to the Palace. Just that once again, we will be having a Q&A session at the end. And again, click and put your questions in there to the guys and I'll read them out after. Okay, then I'll let's start with the first question for you. How was the development of t r e premium design infrastructure in the property space? That's a good question. I think the main thing it's John has really encouraged this industry to adopt change at a much faster than has ever been before prior to, IIT had a
set of protocols. Maybe now, there's a whole new set of protocols coming in at gresty Pitt. And now it's getting exposure to these other networks such as hell. And Laura. And what is happening is that these Works have been double up. Very sufficiently outside this industry. And now we are getting this huge influx of exposure to these ideas and new ways of doing things. And we're going to it. And in the process of doing this, it's having some problems, but it's taking care of that to a very good example of
between Protocols are talking between networks. You have to translate these languages and you have something called the gateway to do that. Now gateways are good for the best but they're also have negative effects. Like they are more prone to failure their point of failure. Another point of failure there, another point of cybersecurity issues. So it's coming along but like I said, all these systems are talking to each other. So that means they can start converged with each other. What does basically means that at one point is industry-high. Where is Building Systems
on their own Silo Networks? So you would have the lighting on its own BS. Building automation system on its own, sitting on a computer. It's not it wasn't something that was really industrial-grade. And now that everything's converging. It's becoming financially possible to put in an industrial-grade Network. An industrial-grade server to post all of the systems and most importantly and Industrial grade cyber security plan to keep all the data secure. So you can see how the industry is adapting to compensate for some lapses in other ways.
That's really the main point of how quickly it's learning to adapt and this happened very recently. There's a hardware side is a softer side is also the dating site right now, all the state of becoming available. All this data before, was locked away in it and its own individual Silo and you can share the data. Now the data is available at a moment's notice. If you know how buildings particularly over the last two years instantaneously and this data is very useful to generate awareness among the public to use in greenhouse gases
is a huge push for reducing energy and with all your teeth coming in and basically proving that data is accessible. At a very cost-effective method. You can share this with other people. It would end organization. You could share it and everyone within an organization will have different applications for the state. But also, you can share with the general public. Imagine you're sitting in your floor and, you know, that your floor is 20% more efficient than the floor below. You? Because you have this
interactive screen that lets you compare your energy consumption to someone else's and, you know, that kind of way of looking at the same problem in a different way. I always like to bring up the example of how the hotel business put in these signs that said, reuse your towels, right? To save energy on heating the water and heating distribution of the water. And the results from those are events. So why not bring that idea back to our industry and show and presented data in meaningful interactive find ways to people and
see what the constant of what the results are and I'm pretty sure be a good result and all of these are only possible because of how accessible everything is going to come to you too. I'll cheat sensors and how the systems work together to are very radical change. And that change I think has been brought along way because of the coyote and what it has provided to us. Okay. Thank you very much. Planner. Kevin. Do you have anything to add to this? Not much. I was a really great dancer open check
brought up. A lot of really good points. There. I'll have it says, yeah, it's it's almost like the eighth, the maturity of the industry as it as it develops is just enabled. All the knock-on effects and that you get this inflection point where it just adds more value as more people get online. So that's sort of where we are now. Well, if not, I would just add that like I wish I could pointed out the the industry has responded probably faster than it would like to. And I know, you know, that the distance or the separation between design and construction has
gotten shorter because the contractor has to understand what all these sensors are going to do it. It's a whole nother level of infrastructure that has to be installed in the building while it's being constructed and kind of going back up the chain. The design team needs to understand what data can be collected, what date of the owner wants to collect in and make sure the scent to correct sensors and devices are installed to go with that program. So it's been a very spend a lot of change in a short. Of time, but I think we're
seeing How about that? The integration of technology is being accomplished and it is helping us construction is affected by. This is also a man's too because you have now working together, whereas before they would have not right now because of all the integration. So how that gets figure it out is a big part of process of the change and it's something that's new but that's something that is being adopted. How is the proliferation of the startup proptech put pressure on Industries? Such as engineering and insurance will start off with
Kevin and maybe I'll betcha can't answer after that. Go ahead guys. Okay, text Tony on that. That's a very good question. I kind of DuckTales with the first one. I know from the insurance standpoint or our perspective. We've been trying to keep up with all of the technologies that are coming out in that are available so that the startups and the the proptech is influencing the contact in the insuretech. All three of those kind of overlap and wait together. One of the things that we've done it, accent is put together, what we're calling our ecosystem, which is a curated
set of Technologies. That we believe will help our customers, reduce the risk of loss. And so they know they were negotiating with the tech companies. We're creating a Tech Library so that our insured's have access to the marketing sheets, and can kind of sort through what's available cuz there is it is rather daunting to keep up with all of the text that's coming out and there's some very exciting and specific technologies that we believe helped us with two different
lines of business are, certainly quite a few technologies that have come out for safety and primary casualty, including electrocution, prevention, and what covid 7 of those fenders, pivoted to provide content for employee separation and contact tracing information being able. Just collect that data on the the Builder's risk side of the house that I'm part of Technologies. Like Eddie Solutions are huge because the ability to monitor water flow and shut water off. When it should not be slowing. His is a
key piece of technology that will help us reduce water damage losses. So, I think the There is some pressure exerted just by the sheer number of solutions that are available and it's important for users to kind of sort through all of that and how can I put the due diligence and to make sure they're getting the right solution for their condition going to next question, everything? What kind of things really raising a lot of good points Technologies going fast and it's proving that it can reduce
risk, and it's showing this over and over again. It's showing this letter-writing cost-effective way and both in terms of supply and install and once again, changing the mindset at a very rapid rate and be glad to hear that. Everyone is adapting to it. Never realized right away. Okay. Thank you. Going to move on to question number 3, everyone. And I think we're going to start with Glenn on this one Glenn. So let's talk about smart cities. How do you see the design
industry evolving on a macro-level to consider this growth? Thanks, honey. So there's certainly a lot of opportunities to be had with smarts as we've already heard a lot of benefits in terms of the efficiencies, the risk reduction and if you just heard that cost savings to like, you can be done economically. So a lot of a lot of benefits that can come out from the city. So we'll just talk to your question. A few ideas come to mind. I think standardization plays a very important role here. Nobody wants to be the first one to jump on a technology that it doesn't end up being
the one that the winds up in today, for obvious reasons. I think the Technologies become more standardized, then you start to see people who jump on board and then you get the network effect. So once it becomes established, that's when more and more companies, adopt the technology against the Foster, in entire ecosystem, around these Technologies and it just multiplies on itself. Secondly, I think security is going to play a really critical role in smart cities. So obviously there's compliance considerations for any data that you're going to have in transit or rest and I watch,
he's definitely got some bad head at headlines of the past related to this. But if you look back in the early days of the internet, traffic was largely unencrypted. And nowadays, you don't. Most of us, don't think twice about having a credit card store to control him and then passing off to Amazon, which would be the majority of the security that has enabled. So I see this is very much, a solvable problem. I finally something that we see is one of the biggest issues in the overall adoption of specially-designed is conductivity particularly in buildings, which is
something that we would deal with heavily. So if you like it a building it's full of concrete rebar equipment, all sorts of of high interference objects. And each of these can interfere with your signal strength is Laurel and which is a low-power wide area network. Yeah, you might have heard about it another specialist today and we find it does really well in these environments. So is an area where the dances and hardware and protocols has enabled these technologies that might not previously have been possible. And I definitely expect that Trend to
continue into the future. Where as the technology is mature. It just takes off. Okay, thank you. Glenn, will be shakers. Are a resident design engineer. Are you sure? I'm sure you have a little bit of wisdom, dad, and brought up about these things. So your Wi-Fi wireless signal right now, like for Wi-Fi. Laura Ryan, these kind of protocols to travel 1020 km, much much further. So you can imagine, how am I the presence of the sensors? That's possible. Because you put on one
antenna, right? Then you can start imagining how much data you can start getting puppies. And so are we talkin about? Why not and the rose? Why not the sidewalks, right? All these things we're running a cable might be expensive. Running wires with the kid expensive. You can pick it up wirelessly and it's effective. It's powerful and it is the eyes where you thought you never had would have eyes before. So, it's a good time to be implemented because there's technology to diagnose and approach problems.
Okay. Thank you. A question number for. How will we recognize ations? Remain, connect, moving forward and Kevin. Could you address us to begin this one, please? But I think the points that Glenn and over Shack, just made about the new protocols and the, you know, that advances and Hardware will play a critical role in keeping that connectivity, especially when you think about the conditions were in today where people are working remotely. And I'm having to participate in conferences via Zoom.
That the connectivity issues are if you can't connect it's you're definitely going to be at a disadvantage. So I think we're going to see companies invest more in their infrastructure and making sure that their employees can be connected wherever they are. Okay. Thank you. Kevin. Anyone else? So when I had to that at all? I think Kevin basically took the words right out of my mouth. So I think everybody's being forced to adopt whether they like it or not. There's definitely there's always been a trend towards working
inside of a distributed environment on the organizational side and developing a maturity round. That's been forced a lot of organizations, but then I'd also add the through iot, you basically have eyes and ears on the job site at all times. So it's it's actually making us more connected than ever. So that while we're working and we're Distributing Manor, actually very much more connected. I feel through East Wenatchee. and I can test the living in a smaller town, like our internet is very slow compared to what I'd get in Calgary for instance. So,
you know, there's talk about getting lots of inner internet through right across the country in remote areas and I've been reading about some really neat Technologies out there. So that's going to help a guy like me and that's for sure specially for a business to question number five. Now. I'd like to know what our speakers think about the penetration and impact of technology. In the construction space contractors an insurance plan. Would you like to start this one, please? I
hopefully I'm not hurting any feelings. If I suggest the Navy, the construction industry is sometimes being considered a slow-moving space when it comes to technology adoption, but I think we're seeing a big shift. And actually I wish I could load it to this in his first answer then we're definitely seeing that that you just going on here. If we look at water damage, which is Eddie specialty in the construction world. This is a massive problem for Builders as well as I'm sure there's a simple little league can cause expensive project delays damage to the building and contents and it
might even cause some major losses in terms of the expensive equipment that if damaged in the process, I don't think there's any construction company that hasn't had quite a bit of money lost due to a to damage and delays. But we're seeing a big shift with our work with PCL. They've, they've embraced technology, for example, using sensors for tracking concrete temperatures, as well. As of course, our work with them looking at water issues through our sensors of metering devices and insurance. Carriers. We found are definitely encouraging the use of Kinect technology and we're
seeing a lot of more help on this side, which I think is something coming to probably expand on it. Oh, yeah, for sure Glenn. It's a couple of years ago. My boss kind of challenged me to know to investigate our claims data and figure out where you know, what was causing the majority of our losses. What were our big loss leaders and then in going all the way back to the Inception of the construction unit in 2010 at AXA. What I found was that water damage was the most was the leading cause of loss by both frequency and severity. And it's kind of like a death by a Thousand Cuts
because their projects, where they don't just have one leak. I have several leaks and usually, the leaks occur later in the project, when there's more material being installed. So the losses can can grow rapidly. So that the use of the technology, like, Teddy Solutions off. Is a huge game changer for us and I my feelings weren't hurt at all. By what you said, construction has always been slow to embrace change. I think in the last probably five years, more contractors
are now looking into technology and how that can help them complete. Work more efficiently, complete work more safely and complete work without losses have realized in the insurers. Have kind of been forced into the corner of having to charge more in rate as well as increased deductibles. Because as contractors, get more skin in the game, my pay more attention to the issues. So especially with water damage. We've seen that. With the Advent of, of higher deductibles
for water losses, there they're coming and asking us. How can we prevent this from happening? So, I think the, the impact of, of The Internet of Things on construction, we're just tapping into it. I think there's a lot more to come and I think my combination with Summit some other things that happened 10 years ago in the design side with modeling and Bim those those Technologies are now standard like table Stakes. If you're not modeling, you know, your your kind of behind the times
and I think the same as going to be true with some of the other Technologies were singing. Play anything else on that. But I question guys, like to add an important part of construction is the phase between construction finishing and hand over. And that phase often has plagued with the problems. Right? Users. Don't know. Don't have the time to haven't been fully yet, or has issues arise. If you have the data from before over a long. Of time, that really helps that
whole transition happen, much more smoothly. So I think that part is a very important part of Artisan construction. Can't answer me. How do clients get accommodated to their new environment and learn how to use their building to what? It's designed for much quicker than before. I agree. I think kind of tying onto the Bim modeling that's happening early in his I process. Now. We're also seeing the digital twin or the as builts model of being available for the building owner so they can see not only do they have plans and paper but they can see the Digital model of what's been
built is licking figure out how to use it. Okay. Thanks guys, and we're going to move on to our last question. But before we do, I just want to remind everyone. We're going to have a Q&A after this last question and discussion and all you got to do is just type in your question at the bottom and we will be answering that at the end of the pier in 10, 15 minutes or so. Okay? So I'm moving on. I think we would like all the speaker's here to answer this one, please. What is your best advice from a
design perspective? Let's start with the oldest. Check. You go ahead purse, please. Okay, I think the way I would answer it is those two categories. One is, are you designing for something that is going to go into construction and finish construction 5 years from now, if that's the case, then you should probably regardless of how Over the top is out of his sensors. Maybe you. Regardless of how were the top that use cases me in 5 years from now, on 64. Now. These will be all expected from buildings. This kind of data is kind of visualization of
a 3D model, what's happening? Pray, so Approach it with that attitude. And if you can't do it after you've explored a bit or it doesn't make sense, then back on but definitely consider it look into it. But if you're looking at a portfolio of buildings, that's already existing, then bringing back to an iot. Kind of expectation that were talking about is much more difficult. So instead of going and approaching individual buildings, create a portfolio light strategy.
Look at where, where you want to be by your house. For now, six years from now, then work backwards in terms of how much budgets you have every year and develop a strategy implementing systems that can be upgraded over time. I can be integrated with other systems over time rather than just going into installing something. Because the last thing you want is something that is not compatible, are eggs, made redundant or even worse is not standardized as I think, I mentioned earlier
in. This is a very important aspect of iot with all this data coming in with all these naming conventions, with all this Roll a dice in your organization to view a certain aspect of your building. So standardization is very important quotes in the short-term and elope. Okay. Thank you. Kevin. Did you want to go next in that? I just would Echo what over shocks had specially when you're looking at a portfolio of buildings or properties. Having a consistent approach, will help you avoid the situation
of you. No one building has. Taipei sensors and the rest of the buildings have type D sensors and I don't know, the data doesn't integrate end up kind of shooting yourself in the foot. So having that taking the time is probably a better way to say it, taking the time to develop a consistent approach in a standardized use of sensors and and data collection will be more productive and helpful in the long run. Okay, Glenda, everything Dad. I think it's going to be a lot of childish and Kevin just said, but definitely, I would say if I was to give some advice if you
choose your technology carefully. So definitely look at what will provide connectivity. So that's sufficient for your application. So just check talked about the limitations of a lot of the the protocols and at a TV use Laurel and we find that works very well, but you don't want to get a solution that doesn't work again today. So its up in a lot of thought into that and then I wish I can read standardization, which I think is great. It's the standardization that that makes everybody get on board. So it's it's such a critical component of a meeting at takeoff.
I'd also say, pay attention to security. It's, it's an ever-increasing thing to be. You should, you should already be paying attention to it and you should continue to pay attention to it, more and more, and you'll have to pay attention to. It also said, so on the organizational side, put a lot of thought into how iot actually fits into your overall organization and objectives. So I'll chew off your stats. Like, you know, a number of organizations plan to implement why but only experts and have a plan to do it. I don't just shoot in the dark just because everybody else is doing
it. But some thought and get a champion eternally who will make sure that it actually that you'd better realise the benefits that you are trying to achieve. That's that's as important as doing. It is just making sure you're not just throwing down into The Ether, you're not looking at it. And then the final bit of advice I'd say is just don't get left behind by the trend is very clear. Things are moving towards smart cities in, Iowa. So don't sit around waiting forever. Okay, guy started to that like
to highlight one thing. Glenn just said, which I think is, is critical and that is to define the benefits you're looking for. If you're a property owner. Maybe you're trying to reduce water usage, or maybe you're trying to reduce energy usage. Can a drilling down on those things and getting to a no specific is always better because then it's more measurable and it's more achievable. So if you're trying to reduce energy consumption by being able to measure and maybe have sensors that measure and report on kilowatt hours per day or
per hour of usage will help you achieve the goal. You're trying to reach but you can't get anywhere. If you don't know what you're aiming for the sake of installing. Okay, thank you. You guys. I greatly appreciate your expertise. That's for sure. And it's been a pleasure being the moderator of this session. And before we conclude, we're going to answer some some questions, but I wanted to remind everyone and I did it earlier this afternoon before the session. I went and visited all the exhibitors on the online exhibitors and I submitted my business card. I
checked out their LinkedIn page. I followed it. I follow their Twitter cuz I'm a big social media guy, and, and great to have them as our sponsors and partners for for this important. Summit that we've had here today, so if you get a chance, please go do that. So, we're going to move to some Q&A, and I'm not exactly sure how I'm going to do this. But I see one question in the chat. I think I'll start with this. And again, this one is for everybody. So, here's the question as
construction vibration issues and related impacts being identified as a challenge. We noticed that in the consistent measurement is really lacking in this area, but not sure if the operators are willing to discuss related iot Solutions. Tell them that might be more up your alley on that one. I don't know. I think the I have not heard of any issues with systems not reporting or not. You no data not being collected due to vibration issues. That's certainly a problem or up the challenge
early in the construction process. So I would say it's something to think about, if you're installing sensors early in the process of getting making sure the mounting is adequately braced or, or maybe provides cushioning, to reduce the vibrations, but I think a lot of Those sensors are going to be installed a little bit later and construction, after most of the structural work is done. So hopefully those vibrations would be lower. I don't know. Glenn your
poop more of the sensor. Technology Guru, so that's why you text me before you were old enough. And we talked about the importance of having a portfolio white approaching and thinking through how you do these things. But you are not aware of any particular. Okay. It's also has a bigger kind of question is using sensors to be more proactive in the same issues come out rather than reacting to issues that are already come out. Right,. So if we put in sensors, that can see
that this system is vibrating more today than it was last week. It's indicating that something is not right, and if you're on contraction in the zone, it's hard to notice incremental. Incremental efficiencies, right? No, return or a point where it's going to cost a lot to fix. So you keep to have sensors that can tell you that something is changing its Behavior. Probably from not. The best reasons. Overtime is a very valuable data and implementation should be encouraged in any kind of construction zone. Okay, thank you.
So we're going to move on to another question from the attendees. A lot of the terms people use are quite fluid when it comes to definitions. What do you think defines a smart city or a smartly designed building? Again, open-ended whoever wants to go first. I don't see a smart study or a smartly designed building means. Have you thought through how your Technologies going through? What you want? What your client wants when your organization wants and then deliver
it. If I go into a building and someone's is telling me if I go to City, and someone just telling me, Oh, I'm gathering, 5 minute, interval data, and all my sensors will be. Okay. What are you using it for? Why is it beneficial? If they can answer me. Then I will know that it's part in some sense. But if they can't, then I will be like, okay, so you're going to be smart. It's in the way. Now, let's make it an intelligent building. Let's let's go from. I have
the data to, I've use the data to improve my situation. Okay. Hello, anyone else? And I'll jump in there. Just, I like this question because I think it points out that there really are good, definitions established that are widely accepted, whether it's based on performance or which, which sensors, and which types of data are being collected and how often has been collected, those kinds of objective performance data that could Define smart building or Smart City. I
think partly because we're You know, we're just brushing up on it. That there hasn't been a an organization or a government entity, that's defined those terms. So I would say just be careful using the terms and ask questions to make sure people understand the terms are using. Jumping quickly to know the shack, were talking in a smartphone that everybody has to get. Almost look at it as a pair of paradigm shift. So what's a smart building? Well at some point they're all going to be smart buildings. So it's it's not a. Where is it? It's it's a paradigm shift.
Young Thug, a certain threshold where you started moving into the future and at this level now now everything to start building, totally lower category, compared to what we have now, lost four minutes. And I can see three questions left. So we're going to have to be quick example, of a smart design solution that you saw being implemented. And was it, and was that your really impressed with example? A good question. A lot of using. Sensors, within a space into to see.
Older folk song where their sensors everywhere to see if a person has fallen over or not because the sensors is good enough to see the heartbeat of the person, how fast the person breathing and basically their orientation within the space and they use case around this was that if there's a sudden exchange or Sudden Change in height of a person's orientation person in a room. It probably implies that they fell over or something like that. So he can use case was that if this is triggered by a
sensor alarm shoots immediately on the front, and either help this person out for you. No actions that are required. So because of the age of the person, because of whatever physical disability, the person has they might not be able to react quickly enough or they might not be able to call for help quickly enough. So the valley below and implemented was a very impressive. Using sensors. Okay, thank you. And I think we got time for one more quick question here. And it's for Kevin Kevin.
This attendee want to see your hear. Your thoughts are and what do insurers play in the process of influencing the adoption of iot and risk mitigation technology on construction sites and operating environment. And what would you say the most prevalent risks are to address for municipalities, instructors and operators as quick as you can. Thank you questions. Glen. I mean already and good question to Anonymous attendee. I think Insurance play a couple of different roles and and I know from my own. Position within a XXL, we are trying to lead our customers
to the use of technology that we think will help reduce their risks. Because if they have lower risks, we can charge lower rates. And we all enjoy the benefits of fewer losses. So we're trying to get on the front end of the wave, if you will and lead the market. I think, you know, some insurers are probably Taking a wait-and-see attitude to see which Technologies, you know, provide the most benefit but we're trying to suss that out on the front end and
Learn by doing. So. I think the most prevalent risks to address obviously primary Casualty that the safety risks is where a lot of this started and there's quite a few Technologies out there that address that risk, but there's also, you know, kind of a strange one that we've seen that we are working with a company called document crunch. It's an artificial intelligence engine that can review Hundreds of pages of documents in most contracts are running that like now and
and help pick out the phrases. That need the most attention like me time. The word indentify is used it highlights where that is, so you can go look at those and that, that really helps with our subcontractor to fault insurance as well as a couple of other lines excess liability on the Builder's Risk Solutions, but we're also looking at some other photograph Crabtree solutions for project management, be able to look at progress and help with palpitations and so on and so forth. So there's a lot of Construction is has a lot of risk. So I think there's a lot of
opportunities there. Hopefully that answer most of your question. Okay. Ended remind any of the attendees like feel free to contact, you know the host of the Summit and we can always get your questions to these the professionals. They can answer your questions. Just reach out to him. I'm sure we can connect you up with them. Thank everyone. Attending and it sounds like it's been a fantastic day. And I really enjoyed this session, and visiting the exhibitors and one of the thank everyone for coming out and if you can hang
on for a few more minutes, so the organisers are going to be announcing the winner of a innovator pitch competition, so I know I'm probably not going to win. So I'm going to sign off and thanks everyone and have a great evening and stay safe out there. Take starting to everyone.
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