How we reduce risk and claims using AI and risk management

We don't just look at the premium – we look at your total cost of risk

When we talk to companies about insurance, the conversation usually centres on the premium. But the premium is only part of the picture. The real risk costs also include deductibles, unrecorded claims, lost production time and preventive investments. It is the total picture – total cost of risk – that determines whether you are paying the right amount.

Why claims below the deductible matter more than you think

Most companies only record claims that exceed the deductible. Everything below that disappears into operations. But it is often precisely the small, frequent claims that represent the largest aggregate cost – and where prevention has the greatest impact.

With our insurance system, we record all incidents – including those below the deductible. This gives us a complete claims profile that we can analyse with AI to identify patterns:

• Which claim types occur most frequently?
• Where in the organisation do they occur?
• What do they actually cost over time?

Asset management – risk cost per asset

Our risk management module includes a full asset management system. Here you can track the risk cost of every individual asset – buildings, machinery, vehicles, inventory. This provides an accurate picture of where risk actually sits and where investments in prevention deliver the greatest return.

Inspection directly from the app

Systematic inspection is the foundation of good prevention. With our inspection module, you conduct inspections directly via an app – on construction sites, in warehouses, in production or on vehicles. Data flows directly into the risk management system, strengthening both documentation and decision-making.

Deductible optimisation: when should you insure – and when should you not?

It is rarely optimal to insure everything. With sufficient data, we can calculate the point where it is cheaper to carry the risk yourself than to pay a premium for it. We call it deductible optimisation:

• We calculate break-even across different deductible levels
• We analyse what should be insured – and what you can benefit from carrying yourself
• You receive a concrete recommendation, or you can run the analysis yourself in the system

Experience shows that companies working systematically with risk management can typically reduce their total cost of risk by 15-25% over time.

See the platform in practice

Learn more about our insurance system or see the full platform at fairsideit.dk.

Want to know what you can save? Contact Kim Theilgaard at kt@fairside.dk or call +45 26 16 96 16 for a no-obligation review of your risk profile.