Predict & Prevent® Podcast Episode 12: How A Data-Driven Approach Boosts the ROI of Risk Control

How one global insurer is helping its clients prevent losses through data-driven strategies and the careful application of technological innovations is the focus of “How a Data-Driven Approach Boosts the ROI of Risk Control,” the latest episode of the Predict & Prevent® podcast from The Institutes,.

Host Pete Miller, CEO of The Institutes, welcomes Dorothy Doyle, Senior Vice President and General Manager of Risk Control Services for Liberty Mutual, to talk about how risk control is being enhanced and expanded today.

“When we say how is risk control changing, I think that we have more access now than we have in the past to more real-time indicators. So, we see things like computer vision or haptics or wearables, right?”  Doyle said. “We have this blossoming of technology that helps us identify risks sooner, but the ultimate process around what do you then do with that, I think is very similar to what it always has been.”

Dorothy Doyle, Liberty Mutual

During the conversation, Doyle talks about using risk assessments to redesign workflows and reduce losses. How Liberty Mutual leverages data scientists and predictive analytics to unlock hidden insights and help clients make informed business decisions. And the importance of conducting statistically sound pilot programs to evaluate technological innovations before widespread implementation.

“Take the time to do it right and make sure that you are making a good business decision,” Doyle said, explaining the importance of demonstrating a return on investment. “We want to keep people safe. We want people to go home whole. And ultimately, in order to get a decision approved, it has to be a sound business decision. And so, you know, if you’re not making that case for a return on investment, then you’re doing your workers a disservice.”

Doyle also highlights various technologies, such as machine learning, collaborative robotics, and wearable sensors, that are transforming the way businesses approach risk control.

But even with a growing array of technologies that can be applied to risk control, she emphasized the importance of customers having a safety culture that drives them to prevent losses and lower their cost of risk.

“We have clients that may have access to all of this and never do anything with it. And we have clients that come to the table hungry every day that really want to understand how they can employ pre-loss strategies to help reduce total cost of risk,” she said.

To listen to this and other episodes, visit predictandprevent.org, or look for Predict & Prevent on most podcasting platforms. &