The Foundation
Without technology, loss control cannot reach enough policyholders. Without transparency, the industry cannot assess its effectiveness. Without trust, carriers will be hard-pressed to get policyholders to actively participate in the process.
Field visits, surveys, and follow-up don’t scale. Digital assessments, mobile tools, AI-supported guidance, and connected data let insurers reach more policyholders, track more recommendations, and support more risk improvement.
The industry should be able to show what loss control costs, who it reaches, and what changes. And policyholders should understand what was found, why it matters, and what to do. Secrecy is no longer a strategy.
Policyholders often see risk control as something done to them, not for them. When improvement is fairly measured and shared, both sides benefit — and policyholders become active participants in their own risk.
The Standards Project
The industry measures underwriting, claims, and reserves with discipline. Loss control has not received the same rigor. The Standards Project proposes practical, common metrics across spend, reach, implementation, and outcomes — ten reporting metrics, one common language for modern loss control.
Loss control spend — total, by line, by segment, and per policyholder reached or recommendation completed.
Policyholders reached and percentage of the book served by field, digital, and self-service channels.
Services delivered: assessments, reports, recommendations issued, and training assigned.
Recommendations completed, completion rate, and time to completion — verified, not just delivered.
Risk improvement, claims frequency and severity before and after, underwriting impact, and policyholder engagement.