Wearable Technology - Changing How We Work.

• Author: Quimby, Sue C.

Wearable technology, including fitness apps trackers and other wireless communication, gives everyone the ability to do things more efficiently. In 2020, 22.6 million smartwatches, the most popular wearable technology, were sold in the United States alone. Total sales of all wearables as estimated to reach $73 billion in 2022. What may not always be apparent is that these advances in technology can help insurers better assess the risks they are writing, as well as lead to healthier and safer workplaces. Helping clients understand the uses for and advantages of wearable technology, as well as the potential risks involved, is another sign of the true insurance professional.

Wearable technology includes sensors that can be used to provide a variety of information including physical activity level and location of employees, or sensors that record health statistics such as blood pressure, temperature or heartrate. Information can be transmitted to employers or healthcare providers. The technology can also provide data to assess how body parts are functioning.

The construction industry is ideal for wearable technology, as many construction workers already wear personal protection equipment, and these can be adapted to include the new technology. The U.S. Occupational Safety and Health Administration (OSHA) statistics reveal that 1 in 5 worker fatalities in 2018 occurred in the construction industry. The "fatal four" most common causes of injury are falls, struck by, electrocution and caught in/between. OSHA estimates that use of wearables to prevent/reduce these accidents could save 631 lives per year (https://blogs.cdc.gov).

Contractors who demonstrate that they are reducing their risks by using wearable technology may be eligible tor lower insurance premiums, especially workers' compensation. Wearable technology can assist with compliance with COVID protocols, as they may be able to identify if social distancing is not being followed, and possibly assist with contact tracing. In the event of a fire or other dangerous event, users' locations can be pinpointed to determine who may be in danger.

The use of wearable technology in the construction industry is growing rapidly. Sales are anticipated to be $54 billion by 2023, nearly doubling the size of the industry in just...