Idea

The idea was to create a platform ⚙️ that connects Underwriters, Insurers, Brokers, Risk Engineers and Risk Managers. iMitig8 Risk bridges the gap between the parties involved, increasing the likelihood of a successful project, fewer claims, and overall greater profitability 💰 for the owners and the insurers.

David Baxter, Founder and CEO of insurance risk management software

Around 2010 — after 10+ years of experience in insurance risk management — David saw the opportunity for a SaaS platform improve efficiency and streamline workflows in the industry.

Since then, he tried twice to build iMitig8 Risk to solve these pain points but the appointed companies didn't provide the service properly and the project was put on hold.

Imitig8 risk management platform was developed by Paralect

In June 2020, David decided to make one more go at building and launching the platform together with Paralect. 🚀

Solution

Currently there is no risk management platform that connects all the project stakeholders. iMitig8 Risk keeps everyone informed at each stage of the construction process, strengthens relationships between all parties and provides a strategic approach to risk management.

The beta version of the web and mobile app launched in May 2021 after 10 months of development.

10 months of development risk management platform

It includes the Project Coordinator, Underwriter, Risk Engineer, Risk Manager, Broker and Site Contact portals covering the whole risk management workflow starting from project inception to completion. The platform also provides real-time analytics 📈 at both project and global levels which helps the stakeholders to target weaknesses and tackle risk items more efficiently.

David Baxter, Founder and CEO of iMitig8 Risk

For those users who mostly work in the field, there is a mobile and tablet application to track project progress remotely and perform daily activities on the go.

Functionality

From budgeting to documentation to project analytics and more, iMitig8 Risk gives all parties a clear view of risk management with intuitive design and comprehensive features.

Choose the feature

Location Services & Hazard Layers

Thanks to our partners at Monarch Weather Consulting and ESRI, various natural hazard layers can be applied to the project location which helps the stakeholders fully understand the natural hazard risk and other outside influences that could affect the location.

Global Ecosystem

A unique feature that captures the risk recommendations and claims reported across the platform and provides the output of that data to all the subscribers while protecting the identity of the insurance company and their clients. This allows a deeper understanding of the type of recommendations and claims your projects are exposed to globally.

Inspection Scheduling & Monitoring

Risk engineers can schedule virtual and offline inspections and provide the rest of the stakeholders with a calendar view where they can find detailed information about all upcoming and past inspections.

Subscriptions

The features available for the users are based on their personal or company subscription package. The subscription packages cover most of the stakeholders in order to ensure a maximum fee generation for the product owners.

Document Management

Organize the documentation structure for the project, manage folders, make files private as well as store and transfer files between the stakeholders in a secure way.

Reporting

With the help of report templates, risk engineers can easily customize and produce inspection reports in minutes, saving personal time and time of the insurance company waiting for the report.

Budget Monitoring

The insurer can send vendors an invitation to submit a fee proposal before allocating the project. When the project is allocated, the budget is automatically tracked and notification alerts are sent out to the stakeholders when the budget reaches certain levels.

Interactive Dashboard

Intuitive and easy to use interactive dashboard provides a snapshot of the risk portfolio through various lenses ensuring every role can monitor their main activities with ease.

Notifications

The platform sends out web, mobile, email notifications and alerts to keep all the project stakeholders informed at each relevant stage of the project.

Analytics

The platform automatically calculates the project risk score and allows the insured see where the project has been negatively impacted. This helps the insured to be proactive in improving project risk scores by targeting key areas.

Integrations

These tools and services give iMitig8 Risk the rich functionality that risk managers need to make and communicate informed decisions on their projects.

Stripe

A platform to produce and embed hazard maps and provide location, geocoding and routing services.

Plaid

A cloud-based processing service for business cards and text recognition.

SendGrid

A cloud-based SMTP provider that allows to design and send emails without having to maintain email servers.

Twilio

A cross-platform messaging solution that allows to send messages and notifications to drive re-engagement and retention.

exchangeratesapi.io

Google Maps

Platform with rich, multi-layered maps that can easily be combined with customer and third-party data.

Amazon S3

A scalable web-based cloud storage service.

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Advisory Board

During the development phase, Paralect and iMitig8 Risk became partners and our CEO and CTO have joined David's advisory board to help guide the product evolution.

Dmitry Schetnikovich

CEO Paralect

Igor Krasnik

CMO Paralect

Customer Feedback

more reviews

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Twilio

a cloud-based solution that allows creating virtual numbers for agents and is used for communicating with clients, voice messaging, and call forwarding

Let us build it for you

Focus on things that matter most — customers and sales

Book a call

You'll get a proposal during the 45-min call

→ launch new product

→ fix product delivery

→ hit fundraising milestone

✓ quick delivery

✓ cross-functional team

✓ product focus

✓ no-code & full-stack development

✓ go-to-market strategy

✓ $165k in tech discounts