Vertical IQ Integrates OSHA Data into Industry Profiles, Enhancing Risk Assessment Capabilities

Vertical IQ, a leader in Industry Intelligence, has announced the integration of Occupational Safety and Health Administration (OSHA) data into its comprehensive Industry Profiles. This addition marks a significant enhancement to the company's offerings, particularly benefiting professionals in insurance, banking, and risk management sectors.

The newly incorporated OSHA data, sourced from the Bureau of Labor Statistics (BLS), provides detailed information on the incidence rates of injuries and illnesses across various industries. This data is organized by North American Industry Classification System (NAICS) codes and is collected through the BLS's Injuries, Illnesses and Fatalities (IIF) program, which includes the annual Survey of Occupational Injuries and Illnesses (SOII) and the Census of Fatal Occupational Injuries (CFOI).

Vertical IQ has introduced a new 'Occupational Safety' chapter in each of its full Industry Profiles, featuring three key sections: Recordable Cases, Cases With Days Away From Work, and Cases With Job Restriction or Transfer. Each section provides year-to-year comparisons of industry-specific rates against national averages, offering a comprehensive view of workplace safety trends.

This enhancement is particularly significant for professionals who rely on accurate industry data for risk assessment and strategic planning. Insurance brokers, for instance, can now access more precise information about industry-specific OSHA risks, enabling them to offer more tailored advice and coverage options to their clients. Similarly, banking professionals can use this data to better understand the operational risks associated with different industries, potentially influencing lending decisions and risk assessments.

The addition of OSHA data also represents Vertical IQ's commitment to continuous improvement based on customer feedback. By incorporating this highly reliable third-party data, the company is providing its users with an additional layer of insight that can significantly enhance their understanding and analysis of various industries.

Jesse Walker, Vice President of CRM and Sales Success at EPIC Insurance Brokers and Consultants, highlighted the practical benefits of this new feature. He emphasized how the ability to compare an industry's OSHA risk levels to national averages allows for better evaluation of potential exposures and more informed advice to clients. This capability positions insurance professionals as trusted advisors armed with quantifiable, reliable insights.

The integration of OSHA data into Vertical IQ's Industry Profiles is not just an enhancement of their existing service; it represents a broader trend in the business intelligence sector towards more comprehensive, data-driven insights. By providing this level of detailed safety information, Vertical IQ is enabling its users to make more informed decisions, potentially leading to improved risk management strategies across various sectors.

For industries with higher than average incident rates, this data could prompt a reevaluation of safety protocols and risk mitigation strategies. Conversely, industries with lower incident rates may find this information valuable for marketing purposes or in negotiations with insurance providers. The availability of this data through Vertical IQ's platform makes it more accessible and actionable for a wide range of professionals who might not otherwise have easy access to such specific industry safety information.

As businesses continue to prioritize workplace safety and risk management, tools like Vertical IQ's enhanced Industry Profiles are likely to become increasingly valuable. By providing a more holistic view of industry-specific risks and safety trends, Vertical IQ is not only improving its own service offering but also contributing to the potential for safer workplaces and more informed business decisions across the economy.