Everest Insurance announced it has purchased all outstanding remaining shares of its joint venture partner, Victoria, Canada-based Salus Systems LLC.
Financial details of the transaction were not disclosed.
An IT consulting firm and business solutions provider, Salus was founded in January 2017. The company develops and markets the insurance industry’s first collaborative safety management platform, ZERO®, a workplace safety software application designed to engage employees while tracking, observing and responding to potential hazards in real time.
ZERO® emphasizes proactive safety management at every level of an organization through a collaborative risk identification process, with the goal of lowering claims-related costs and streamlining workforce safety operations, explained Bermuda-headquartered Everest in a statement.
Its easy-to-use, interactive features allow all members to participate in the reduction of workplace hazards and take ownership of company safety. New enhancements to the software also allow for incident management, compliance with Occupational Safety and Health Administration (OSHA) regulations, and reporting capabilities.
“The growth and development of the ZERO® platform over the past two years has been incredible – it is truly a revolutionary tool in the workplace safety market,” said Everest Insurance Chief Administrative Officer Bill Thygeson. “We are proud to provide clients with a product that can lead to both a tangible reduction in claims costs and an improvement in the safety and wellness of their employees.”
Source: Everest Re Group Ltd.
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