Wearable Tech Cuts Insurance Costs In Construction

Occupational injuries and illnesses are estimated to cost the United States as much as $250 billion a year. So cutting down on insurance costs in this area makes huge financial sense. In the construction industry, many companies are turning to wearable technology to better manage risks and incidents — and there are insurance benefits to be leveraged from doing so. Connecticut-based Triax Technologies launched its sensor technology earlier this year. Designed to be worn on a tool belt, the sensors track workers’ whereabouts and have an emergency locator button for accidents and injuries.