NFP Explores the Evolving Landscape of Construction

By Karen L. Edwards, RCS Editor.

Major changes in the construction industry can be seen through technological advances and an increased number of women serving in construction roles.

NFP’s Lisa Ann Marchesi, vice president of property and casualty, explores these shifts in construction and insurance in a recent industry article for Construction Today magazine. In the article, Lisa writes that evidence suggests that the “growing proportion of women in insurance and construction and the rise of digital technologies reflect and reinforce an evident realty: As automation and more advanced forms of artificial intelligence profoundly shape the construction industry it’s critical to tap into all groups within the U.S. workforce – notably women.”

Marchesi also notes that the industry will need to confront “long-held biases” to “open the floodgates to the many talented women who can help transform the future of construction.” She shares that the introduction of new technologies will mean workers need to learn new skills and that organizations will need to “source new types of talent to ensure that they are driving operational efficiencies, safety, compliance, and overall health and wellness.”

Technology won’t necessarily replace manual jobs. Rather, it will only help enhance the work environment. She writes that “technology can’t be used as a replacement for human intelligence, we’ll always need a person behind the technology to help manage it.” The goal of technology in construction is to create better value for clients and a safer environment for workers according to Marchesi.

Safer work environments through the use of technology can equate to a reduction in insurance premiums and policy pricing for construction firms. Marchesi writes that “technology aiding in loss prevention can serve as a proactive solution for a better, more accurate insurance rate for construction companies.”

Implementing technology won’t happen overnight, but, as Marchesi notes, with a new generation stepping into the industry we are bound to see more open-mindedness about the digital transformation and overcoming those long-held biases in the industry.

Read the full article here and learn more about NFP insurance captive solutions in their RCS directory listing.