Every closed claim contains two outputs: a financial result and a prevention lesson. The opportunity for insurers is to become as systematic about capturing the second as they already are about capturing the first.

Insurance companies have an unusually valuable view of workplace risk. They see injuries across industries, employers, locations, job types and operating conditions. They see what happens after a control fails, what a seemingly small exposure costs when it escalates, and which loss patterns keep returning even when the companies involved have never met each other.

That perspective is difficult for an individual […]