March 20, 2023

The Science of Comp with Jacob Geyer and Mike Seling

47 minutes

In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Mike Seling, Vice President of Growth, and Jacob Geyer, Chief Insurance Officer at CompScience. Mike and Jacob discuss how CompScience offers a unique solution to the problem of workplace safety by utilizing computer vision technology and AI to detect potential risks and hazards in real-time.

Episode Highlights:

Jacob and Mike share their background and what led them to CompScience. (1:07)

Jacob mentions that their mission is to use their technology to provide insights so that everybody can get home safely after their work shifts every single day. (4:18)

Mike explains that CompScience provides free technology to pair with Workers’ Compensation policies for employers with existing video cameras, and pays agents commission in either case. (12:54)

Mike mentions that they also offer Risk Reports that help employers benchmark their losses and forecast savings, which can result in upfront credit, better pricing, and a reduction in exposure over time. (19:03)

Mike explains that they prefer to work with clients who have facilities with video cameras already in place or want to install them and that they do not sell or install cameras but offer solutions for contractors that focus on eliminating adoption hurdles and providing efficient services. (22:58)

Mike mentions that although some agents may not see Workers’ Comp as their primary focus, there are agents who are taking a risk management approach and are interested in making workplaces safer for their clients. (29:18)

Mike shares that when working on an account with a retail agent, they insist on doing a demo with the client and want to meet with key decision-makers to walk them through their platform and show them how they do the risk report. (32:23)

Mike explains that they are committed to competing on every account they can by offering competitive pricing and technology to make workplaces safer. (43:44)

Tweetable Quotes:

“Our mission here really, is we want to use our technology and provide insights to people so that everybody can get home safely after their work shifts every single day.” - Jacob Geyer

“We see what people are doing when they think nobody's watching. So we're able to identify hazards better...And then really, at the end of the day, because of the use of video footage, we're shining a spotlight on the existing problem, better identify it, and then, frankly, work with that client to provide solutions.” - Mike Seling

“We're not here to point fingers, we're here to provide solutions, to reduce risk, to have healthier workers and ultimately drive down their mind and lower their total cost of insuring risk.” - Jacob Geyer

Resources Mentioned:

Mike Seling LinkedIn

Jacob Geyer LinkedIn

CompScience

David Carothers

Kyle Houck

Florida Risk Partners

The Extra 2 Minutes

...more

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By David Carothers

4.9

116116 ratings