Mitigate risk and reduce insurance premiums with OpenSpace

Insurance is a material cost for builders. That’s why top benefits to creating complete visual records of your projects with OpenSpace Capture are reducing your risk and lowering the cost of your insurance premiums. Read on to learn more, plus find details in our new Insurance costs use case page.

The proof is in the images

Submitting your OpenSpace images as proof in an insurance claim makes the process faster and smoother. By sharing visual documentation with claims adjusters, you can show actual site conditions at any point in time. Your visual record can reduce the need for inspector site visits, help avoid disputes or litigation, and even increase the amount of money paid out in claims.

• Watch this webinar to learn how capturing with OpenSpace before and after Hurricane Ian helped DeAngelis Diamond recoup millions in insurance claims on a resort project.
• In this on-demand recording, you can learn how submitting OpenSpace documentation for a single claim covered a year of OpenSpace for Performance Contracting Inc. (Plus get great tips on how their teams are getting the most out of OpenSpace.)
• Explore our Safety use case page to read about the many ways OpenSpace helps you sustain a safe working environment.

Insurance providers are taking notice

Insurers are recognizing the lower risk profile of organizations documenting their sites with OpenSpace—e.g., improved ability to catch potential safety issues, avoid costly mistakes, and deliver projects faster—and are offering these companies lower cost insurance. Also, on top of helping your bottom line, insurance costs are a line item that can help determine success in a competitive bid.

Save up to 25% on your premium through our partnership with Shepherd

Proof that we’re reducing risk is our partnership with technology-enabled insurance provider Shepherd, who is offering significant savings to OpenSpace customers. The company focuses on data partnerships to unlock real, meaningful savings and they found OpenSpace customers to be lower risk, experiencing fewer claims and smaller losses. Through the Shepherd Savings program, Shepherd applies credits to your proposal which can save you up to 25% on your premium—offsetting your cost of OpenSpace (potentially your entire cost). Find details on how this innovative program works on our Shepherd Savings page, as well in our recorded conversation from Waypoint with Shepherd Co-Founder and CEO Justin Levine.

Learn more or get a demo

Consistently capturing your projects with OpenSpace ensures you have the insights you need to make informed decisions about safety, along with data to minimize disputes and increase accountability—all improving your risk profile and boosting your ROI. Head to our Insurance costs use case page for more information. And to discover even more about how OpenSpace can simplify your daily tasks, browse all use cases.

If you’re not a customer and want a live demo of the many use cases for OpenSpace, make a request here.