Captive owners spending more on analytics to drive down costs and improve safety culture: CICA panel

Captive owners are increasing their use of analytics, and spending more time understanding their data, as they look for ways to mitigate and minimise factors that contribute to losses in the workplace, according to Gordon Padera, executive vice president at Gallagher Bassett.

Speaking on a Captive Insurance Companies Association (CICA) webinar titled “Culture is Key”, he said captives are spending more on technology that can help them prevent accidents.

Andrew Johnson, chief risk officer at Captive Resources, stressed the important role captives can play in installing a culture of safety in workplaces, by strengthening the link between reduced losses and reduced premiums.