Company Research Report: CompScience

Company Overview

• Name: CompScience

• Mission of the Company: Dedicated to reshaping workplace safety, CompScience aims to save lives and support safety-first companies with pioneering AI technology. Their mission is to prevent workplace accidents through advanced safety analytics.

• Founded: No information available

• Founder: Josh Butler

• Key People in the Company:

• Josh Butler, CEO and Founder

• Jacob Geyer, CPCU, Chief Insurance Officer

• Chris Monsour, FCAS, CSPA, MAAA, Chief Actuary

• Eric Madoff, Chief Innovation & Growth Officer

• Philip Hennessy, MS, SVP Engineering

• Jeremy Silver, SVP of Client Service and Success

• Leia Evvangelia Bordley, Executive Director, HR

• Headquarters: No information available

• Number of Employees: No information available

• Revenue: No information available

• What is the Company Known For: CompScience is recognized for its innovative AI and computer vision technology that focuses on enhancing workplace safety by reducing risks and improving safety outcomes.

Products

1. Workers’ Comp Insurance

• Description: Insurance product designed to reduce workers' compensation premiums by leveraging AI technology for safety analysis.

• Key Features:

• Uses AI to derive actionable insights for optimizing insurance policies.

• Helps in identifying risks and proposing strategic improvements.

2. Safety Analytics

• Description: Advanced analytics platform that utilizes AI to enhance workplace safety.

• Key Features:

• Processes video data using existing cameras without the need for new hardware.

• Provides detailed risk reports and CompScores with actionable risk strategies.

• Uses predictive indicators to prevent injuries by identifying potential hazards before they occur.

3. SafetyBriefAI

• Description: Mobile application designed to identify and mitigate workplace hazards using AI technology.

• Key Features:

• Provides real-time safety insights and compliance tracking.

• Enhances safety management processes to prevent accidents and injuries.

Recent Developments

• Fundraising and Investments:

• Raised $10 million in Series A funding, led by Valor Equity Partners, with investments from Nationwide and Swiss Re.

• New Product Launches and Partnerships:

• Launched an AI-powered workers' comp product backed by Nationwide and Swiss Re.

• Integrated with Verkada’s camera systems to provide improved safety insights through state-of-the-art AI safety analytics.

• Innovative Platforms and Agreements:

• CompScience’s Intelligent Safety Platform now offers AI-driven analytics for improved workplace risk management.

• Partnered with top workers' comp insurance carriers and Fortune 500 companies to integrate AI solutions into their safety strategies.

• Performance and Achievements:

• Documented significant reductions in claims frequency (24%) and ergonomic hazards (43% & 9% in specific facilities).

• Notable decrease in cargo damage incidents and turnover rates within partnered facilities.

• Industry Recognition:

• Featured in prominent publications such as The Wall Street Journal and Fox News for its impact on workplace safety and insurance.

• Received validation and funding from the workers’ comp insurance industry, highlighting CompScience's influence and innovation in safety technology.

Case Studies:

• Collaboration with companies like Peerless Products, Propak, and Keystone showcases the pragmatic application of CompScience's technology in reducing hazards and improving safety standards across various industries.

Conclusion

CompScience is a forward-thinking company utilizing cutting-edge AI and computer vision technologies to transform workplace safety. With significant partnerships, strategic funding, and pioneering products, CompScience is at the forefront of innovating workers' compensation and safety management solutions.