November 3, 2022

How to Measure Risk in the Damage Prevention Industry

In a recent dp-PRO webinar, Matthew Abbitt, Chief Product Officer at Irth Solutions, outlined how to measure risk in the damage prevention industry.

To appropriately measure risk, you need to be able to assign a Risk Score to various activities that take place around your assets. Risk Scoring is a calculated level of risk associated with an activity based on a pre-configured set of rules.

In this webinar, you’ll learn:

  • Definitions of terms used in risk management, including automation, algorithm, machine learning, artificial intelligence (AI) and risk score
  • The difference between automation and intelligence
  • The importance of collecting the right data for your organization to calculate risk
  • Where to start your risk model
  • Common Risk Scoring use cases for the damage prevention industry
  • Risk management best practices and benefits of risk scoring

As a trusted damage prevention partner, we’ve helped many customers use risk scoring to reap incredible benefits, including Crown Castle who reduced network asset damage by 19% in the first year of using UtiliSphere™ and SmartScore.

Tune in to this recent dp-PRO webinar, when Matthew Abbitt, Chief Product Officer at Irth Solutions, outlined how to measure risk in the damage prevention industry.

Irth Solutions' market-leading SaaS platform improves resilience and reduces risk in the sustainable delivery of essential services that millions of people and businesses rely on every day. Energy, utility and telecom companies across the U.S. and Canada trust Irth Solutions for damage prevention, asset protection and risk management solutions, making Irth the top provider for 811 (one call) ticket management and utility locating software since 1995. Powered by business intelligence, analytics and geospatial data, our platform helps deliver the 360-degree situational awareness needed to proactively mitigate and manage risk of critical network infrastructure in a changing environment.

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