Insurance

Insurance Benefits

The insurance industry is a world of “risk profiles.” Insurance companies base their rates, and even their willingness to provide insurance, on how likely parties are to file a claim in the future – the risk profile of an organization. Limited visibility into an organization means higher-than-necessary rates for some and irregularly low rates for others.

Gold Shovel Standard is working to increase transparency in damage prevention through the standardization of metrics. Dramatic reductions in the frequency of line strikes will remain elusive unless all parties continuously improve and measurements underpin continuous improvement. Standardizing the measurement process is an overdue first step to drive performance improvement and increase public and workforce safety. To achieve this ambitious plan, Gold Shovel Standard is working with balanced teams of damage prevention experts to draft, refine and broadly deploy damage prevention metrics for all stakeholders.

Data-Driven

Insurance is a highly competitive business, and better data increases competitiveness. Gold Shovel Standard is delivering the first industry standardized measurements based on empirical data. That data can be leveraged to improve the accuracy of an organization’s risk profile.

One of the primary objectives of Gold Shovel Standard is to obtain commitment from more than 75% of insurance providers to consider GSS supported metrics on policies for excavators or locators by the end of 2025.

While it is impossible to know the exact formula any insurance carrier uses to calculate risk and determine premium rates, better control of rating factors can help organizations position themselves more advantageously with insurers.

To learn more about how Gold Shovel Standard can help insurers, call Member Services at (855) 676-7252, or Email Gold Shovel Standard.



The Need For Standardized Metrics

The Need For Standardized Metrics

Dramatic reductions in the frequency of line strikes will remain elusive unless all parties continuously improve and measurements underpin continuous improvement. Standardizing the measurement process is an overdue first step to drive performance improvement and increase public and workforce safety. To achieve this ambitious plan, Gold Shovel Standard is working with balanced teams of damage prevention experts to draft, refine and broadly deploy damage prevention metrics for all stakeholders.

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Third-Party Damage Reductions and Communities

Third-Party Damage Reductions and Communities

“Everybody’s third-party is somebody’s second-party.” Reducing line strikes associated with small excavators and third-parties persists as the top priority for all stakeholders in damage prevention. These are difficult reductions to influence, and yet they represent the single biggest risk to safety associated with excavation damage. Gold Shovel Standard Communities are novel and ambitious partnerships to attack this persistent and difficult challenge.

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ShovelSafe™

ShovelSafe™

Increasing safety is impossible without the right tools. Gold Shovel Standard provides world-class technology to drive continuous improvement that reduces damages and increases public and workforce safety. Gold Shovel Standard’s ShovelSafe technology puts damages prevention at the fingertips of business leaders, giving them the tools to drive continuous performance improvement. ShovelSafe is world-class technology for analyzing and tracking damage prevention performance.

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Safety Management Systems (SMS)

Safety Management Systems (SMS)

Pursuing the industry-wide goal of zero incidents requires comprehensive, systematic use of Safety Management Systems. Pipeline and other energy companies, and along with the regulatory community have recognized the critical importance of SMS. Broad adoption of Damage Prevention-Safety Management Systems (DP-SMS), which are safety management systems specifically tailored for damage prevention is a necessary ingredient to achieve that industry-wide goal of zero incidents.

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