A strategic collaboration has been forged between Willis, a division of Willis Towers Watson (WTW), its integrated insurance technology partner Kayna, and the construction workforce solutions provider Kwant. This alliance introduces KwantSure, a groundbreaking initiative designed to embed digital insurance capabilities directly within Kwant's workforce management ecosystem. This program offers subcontractors streamlined access to essential insurance coverage, which is often a prerequisite for project adherence, all accessible through the same platform utilized by general contractors for workforce management and certificate of insurance (COI) verification.
Kwant's platform, which serves over 160,000 workers across the United States and has meticulously recorded more than 45 million work hours, is now significantly enhanced by KwantSure. The program is built upon three core components: Kwant contributes its workforce and compliance technology, enabling general contractors to gain real-time insights into subcontractor insurance statuses via integrated COI tracking. Kayna provides the embedded insurance infrastructure, facilitating a seamless insurance procurement experience within the Kwant platform, leveraging advanced digital trading functionalities from contemporary carriers to deliver data-driven insurance solutions. Willis, in turn, offers specialized affinity advice and a comprehensive range of insurance products for subcontractors, encompassing general liability, professional liability, cyber coverage, business owner's policies, and flexible pay-as-you-go workers' compensation options.
This integrated approach aims to considerably reduce administrative burdens and simplify the insurance acquisition process, allowing subcontractors to obtain quotes and secure coverage within minutes. For general contractors, the program promises enhanced compliance oversight and robust risk mitigation across all their projects. Furthermore, WTW recently expanded its portfolio by acquiring Redefind, a web-based platform specializing in insurance solutions for cryptocurrency and digital assets, underscoring the company's commitment to innovation and adapting to evolving market demands.
This innovative partnership exemplifies a forward-thinking approach to addressing industry challenges. By integrating technology with specialized insurance expertise, KwantSure creates a more efficient, transparent, and accessible insurance landscape for the construction sector. Such collaborations foster an environment of greater certainty and security, promoting responsible business practices and contributing to the overall success and integrity of construction projects.