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Frequently Asked Questions
Answers to common loss prevention technology questions.
Insight Risk’s RiskTech solutions combine advanced IoT technology with expert risk management to help protect construction projects from water, fire, and security threats. This FAQ page answers common questions about how our technology works, what it includes, and the benefits it provides. Whether you’re looking for installation details, alert response guidance, or insights on cost savings, you’ll find the information you need here.
General
What is included in the RiskTech solution?
Each Insight Risk IoT technology solution is designed to meet specific project needs. Available devices include environmental sensors (water detection, temperature, rate of rise, and humidity monitoring), gateways, water flow meters, remote shut-off valves, and site security cameras (including infrared and thermal imaging).
Our solutions go beyond hardware—they include a custom-designed prevention and response plan, 24/7 monitoring with real-time alerts via text, email, and in-app notifications, plus periodic status reports. These reports provide alert details, estimated averted losses, and actionable risk control insights to help our clients proactively manage risks.
What does the technology do?
If a device detects an anomaly—such as water presence, increased water flow, or a rapid temperature drop or rise—our client’s Prevention and Response Plan is activated. An alert is immediately sent to designated individuals, enabling them to swiftly investigate and mitigate or prevent loss.
If my customers have never had an issue, why would you recommend installing technology now?
Water and fire are leading causes of loss on construction projects, and statistics show that it’s only a matter of time before an incident occurs.
Rising insurance deductibles, labor shortages, and material delays mean that even a minor water leak can lead to significant costs and project delays. Insight Risk’s RiskTech solutions help clients not only mitigate potential losses but also benefit from premium and deductible credits—lowering the overall cost of their Builder’s Risk insurance policy.
Can you share any statistics on the benefits of having a RiskTech solution in place?
When properly installed and monitored, Insight Risk’s RiskTech solutions can prevent up to 90 percent of losses.
What type of savings can I receive by incorporating a RiskTech solution on my next construction project?
Depending on the project, Insight Risk can offer premium and deductible relief on Builder’s Risk policies when our RiskTech solution is selected and installed. In addition, we can offer our first-to-market Alert Response Credit (ARC) Deductible, which can further reduce your water damage deductible by up to 50 percent.
Our RiskTech solutions can be designed to comply with the technology requirements of other Builder’s Risk insurers that may offer credits in return for technology deployment.
What if I need technology for an existing property?
Insight Risk also offers RiskTech solutions for existing properties; contact us to learn more about recommended sensors and devices based on specific needs, building type, and occupancy.
Alerts and Notifications
How are notifications sent?
Alerts can be configured to send via text message, email, and/or in-app alerts to specific individuals as determined by our client. Insight Risk assists each person in setting up their alerts to ensure they are being received. A project-specific online portal can be accessed for project status in real time.
What happens when an alert occurs?
Your specific Prevention and Response plan, developed with Insight Risk, includes a comprehensive response and recovery plan should you receive an alert. The plan includes:
- A call tree with full redundancy to make sure a qualified individual responds immediately to the alert.
- Specific steps that need to be taken to stop water flow, fire, or theft and mitigate damage.
- Contact information for pre-selected restoration vendors should those services be necessary.
- Close-out procedures to keep a record of activities that will help improve future planning.
How often are there false alarms?
Each device is set with specific tolerances to minimize the potential of a false alarm. Insight Risk encourages insureds to investigate each alert to ensure there is not an active loss event. False alarms should be reported to Insight Risk to adjust the device’s tolerance or to change the device’s physical location to provide more accurate feedback.
Do I get any data to show how the technology is helping/has helped?
Yes! Each active project receives an installation report, quarterly updates with alert details, estimates of averted losses, other insights to help our client manage risks more effectively, and a close-out report at the end of the project compiling all the data.
Installation
When does the installation take place? How much work will my customers have to do?
The date of installation depends on the type of RiskTech solution selected. For water damage prevention, the installation takes place at the time the water lines are charged (typically when the overall construction project is 50 percent complete). For site security, installation typically takes place as soon as the project breaks ground.
Insight Risk can explain the process in detail to set reasonable client expectations for their specific project. The most important aspect of project planning is for Insight Risk to receive complete documentation such as floor plans, site plot plans, and construction schedule. From there, Insight Risk’s white glove service handles all logistics, implementation, training, and continuous device support.
What does the installation entail?
Prior to the installation, Insight Risk will present a bespoke RiskTech solution, including the specific devices and their installation locations, for the insured’s review and approval.
On the day of the installation, an Insight Risk representative, accompanied by a site representative, will install each device at pre-determined locations, followed by activation, confirmation of connectivity, and labeling/naming the device by its location.
How long does it take to install the technology?
Most installations can be completed within one day, depending on the size and layout of the building. For a point of reference, deployment on a 10-story building can be completed in four to five hours.
Where are the sensors placed?
Insight Risk’s expert team of risk control specialists draws on experience with hundreds of project installations to determine where to strategically place devices. For water detection and temperature monitoring, areas include locations susceptible to water intrusion and those near high-value assets.
Do I receive a record of where the sensors and relays are located?
Yes. Upon completion of the installation, Insight Risk will provide our client with an updated map of all installed devices plus log-in to their specific project dashboard, which provides access to each activated device and photographs of the installed equipment. A list of additional equipment pending installation will also be provided, such as devices that could not be placed due to active work in the specific area.
How do you assure me that these will stay in place (not get moved or stolen)?
Insight Risk employs a multi-prong approach to promote reliability and uptime. Should a device lose power or become disconnected from the network, the project team is immediately notified and can investigate. Signage is also displayed on devices, such as “do not move” labels or posters on or near devices to discourage site team members from moving during the project.
Insight Risk also provides training materials that can be shared during meetings or posted in work trailers or common areas to educate employees about the devices and their importance in creating a better, safer worksite.
What happens to the technology at the end of the project?
Insight Risk coordinates the equipment removal from the job site or structure once the project is complete.
If the building owner or insured is interested in keeping the RiskTech solution in place, Insight Risk will assist in selecting supplemental IoT solutions to address any additional needs and will provide services to help the insured procure those solutions via its vendor network. The associated cost of Insight Risk’s services, additional hardware, and additional monitoring is the responsibility of the insured.
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