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Preventive maintenance helps insurers spot hidden risks earlier
HelixIntel CEO Jon DeWald estimates the U.S. carries about $9 trillion in deferred maintenance, much of which can later surface as multiple insurance claims.
Neglected maintenance is a major blind spot for insurers and property owners, often allowing small issues to worsen until they appear on insurance reports as claims, according to Risk & Insurance. In examples discussed on the Predict & Prevent podcast, problems like a leaking roof or equipment running outside intended parameters may go undocumented until damage escalates.
HelixIntel CEO and co-founder Jon DeWald said deferred maintenance affects a large share of properties, estimating that 60% to 70% of properties globally still manage maintenance with paper-based processes. He also put the scale of the U.S. problem at about $9 trillion in deferred maintenance, with global figures as high as $100 trillion.
DeWald argued that maintenance gaps can drive more than one line of exposure at once. For instance, a failing boiler can potentially lead to property damage and equipment breakdown, alongside general liability and workers’ compensation claims stemming from a single overlooked maintenance issue.
He described HelixIntel’s platform as having two components, HelixPrevent and HelixCMMS. The intelligence layer, HelixPrevent, is designed to give insurers real-time visibility into operational data across portfolios, while HelixCMMS is an operating system for maintenance teams handling work orders, inspections, and asset tracking.