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Virtual Reality: A Risk Management Tool?

Virtual Reality A Risk Management ToolAs technology continues to evolve for the better, industries are using it to their benefit. The newest craze is the idea of using the virtual reality seen in video games, as tools for the insurance field. It’s also important to protect your business with New York Cyber Liability Insurance. There are a few ways the insurance world can use virtual reality to reduce costs and protect employees.

According to an article in Workers’ Compensation Institute, using virtual reality can prevent workplace injuries in warehouses when it comes to using forklifts. Tactus Technologies have built a virtual reality training program for forklifts that will allow operators to practice with a video-feed-like gaming system in the typical environments they work in. the program is called 3D Forklift Trainer and is meant to be interactive and puts aside the passiveness of classroom-based lecture training.

This virtual reality program provides a risk control element that enables you to look at possible hazards and how to handle them before the real deal. While preventing injuries, it’s also cost efficient for insurance companies. Insurers won’t have to spend the money to send their employees to different locations to train and will be able to hire more staff without the fear of extra costs for training.

The idea of virtual reality seems to have a lot of benefits as a risk management tool. As mentioned before, this program is representative of how innovative technology is becoming and how industries like insurers can use it to their advantage.

At A.J. Benet, Inc. Insurance, we understand the harm cyber crimes can have on your business and that’s why we take the time to review exposures including cyber attacks, data breaches, and privacy risks. We are also proud to say that we offer cyber policies that provide first and third party coverage for security and data breach events. For more information on how we can provide you with your insurance needs, call us today at 888.639.4560.

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