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Triax Receives Innovator Award from Business Insurance Magazine for Wearable IoT System for Construction Industry


October 3, 2017 - Norwalk, CT

NORWALK, CT--(Marketwired - October 03, 2017) - Triax Technologies, Inc., a leading provider of technology for jobsite connectivity, visibility and worker safety, today announced that it is a winner of the 2017 Innovation Awards from Business Insurance Magazine, one of eight companies honored for creative risk management solutions and technological innovations. spot-r's advanced, industrial IoT-based system enables risk managers and insurers to more effectively identify and assess construction site risk, improving site safety and mitigating fraudulent claims.

Selected by an independent panel of risk professionals, the awards recognize innovative products and services for risk managers and commercial insurers.

"We're honored to be recognized by Business Insurance as an innovative solution provider for risk managers," said Chad Hollingsworth, CEO, Triax Technologies, Inc. "Our spot-r solution is meeting a key need by giving contractors and insurers data-driven insights into construction site accidents while promoting safety and more effective worker monitoring. The response has been overwhelmingly positive, and we're excited to receive this recognition in the system's first year."

As a wearable device that provides real-time visibility into worker activities and safety incidents at the jobsite, spot-r is changing how risk managers measure and manage risk -- and the way construction companies respond to risk on the jobsite. Knowing when and where an incident occurs the moment it happens, site supervisors are able to improve response time, reduce the risk of compounding injuries, mitigate loss severity and improve loss frequency. Key incident data, such as the height and severity of falls, helps combat potentially fraudulent claims, ultimately helping to lower the total cost of risk, MOD ratings and insurance premiums.

"For the past eight years, Business Insurance has recognized innovation in the risk management and commercial insurance sector through the Innovation Awards program," said Gavin Souter, editor of Business Insurance. "The technical expertise and creative thinking behind the award-winning entries produce truly innovative solutions to help risk managers do their jobs better and achieve their goals."

Triax will be honored during the Business Insurance Innovation Summit, which will be held Oct. 5, 2017 at the Sheraton Times Square in New York City. The award-winning entries are profiled in the October issue of Business Insurance.

About Triax Technologies, Inc.

Founded in 2012 and based in Norwalk, Connecticut, Triax Technologies, Inc. develops and delivers wearable industrial IoT technology for construction site connectivity. Its first-of-its-kind spot-r wearable technology provides real-time visibility into the worksite, resulting in faster response to injuries, improved safety performance and increased productivity. spot-r is currently being used by some of the largest construction firms in the industry. More information can be found at: https://www.triaxtec.com/.

LinkedIn

Twitter: @TriaxSpotr

MEDIA CONTACT:
Linda Pendergast-Savage
Pardes Communications, LLC
Email contact

508-224-7905

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