Brickeye Launches BuildersRiskIQ™ IoT-Enabled Dashboard to De-Risk Construction Projects and Lower Builders Risk Insurance Costs
Toronto, ON (June 17, 2024) – Brickeye, a leading provider of Construction IoT (Internet of Things) and job site risk mitigation technology services, is proud to announce the launch of BuildersRiskIQ™, a first-of-its-kind digital dashboard designed to transform how builders mitigate construction risk and secure Builders Risk insurance coverage.
BuildersRiskIQ™ empowers insureds, brokers, and underwriters by providing unprecedented visibility into IoT-enabled water damage mitigation—starting at the pre-construction and coverage quoting phase. For the first time in the construction insurance industry, IoT loss control plans can be scoped, verified, and communicated with ease as part of the Builders Risk placement process.
Leveraging Brickeye’s proven IoT protection services, the dashboard allows stakeholders to visualize and securely share project-specific IoT water mitigation plans, backed by Brickeye’s Certificate of Protection. This proactive, tech-enabled approach strengthens insurance submissions, giving underwriters increased confidence and enabling insureds to reduce water loss deductibles by up to 50%—significantly lowering total cost of risk.
“Industry studies show that IoT protection can reduce water damage exposure on job sites by up to 90%,” said Alex Fuentes, EVP Strategic Growth at Brickeye. “With BuildersRiskIQ™, insureds and brokers can now submit committed, IoT-enabled water mitigation plans from the outset, leading to smarter insurance quoting and tangible cost savings.”
Key Benefits of BuildersRiskIQ™
- For Insureds: Lower insurance costs and water loss deductibles through a verified risk mitigation technology plan and Certificate of Protection.
- For Brokers: A value-added tool to enhance project submissions and reinforce insurer confidence through a demonstrable IoT loss control strategy.
- For Underwriters: Improved visibility into IoT water loss controls and implementation certainty, enhancing risk assessment and data-driven underwriting decisions.
BuildersRiskIQ™ marks a critical step forward in aligning technology, insurance, and construction to drive better risk outcomes, greater transparency, and stronger collaboration across the industry.
To request a demo, please contact sales@brickeye.com.
About Brickeye
Brickeye is a global leader in Construction IoT and job site risk mitigation technology services, trusted by top-tier owners, developers, contractors, and insurers. Its advanced platform delivers real-time alerts, automated risk controls, and actionable insights that help construction stakeholders build smarter, safer, and more profitably. To learn more about Brickeye, visit www.brickeye.com.
Source: Brickeye
Tags: Brickeye, construction, industry first, InsurTech, InsurTech Spotlight, Internet of Things (IoT), launch