News and Articles


 

article image 1-12-22.jpgConstruction Industry Predictions for 2022

January 12, 2022

If you regularly act as an insurance agent for construction insurance clients, you may have already been on the receiving end of industry trend-related questions. Although it may not be possible to predict with complete certainty what the top trends in the construction industry will be in 2022, there are a few early indicators that your clients may find helpful. Try going through this list with them to give them a heads-up.

New Technology and Upgraded Equipment Models May Hit the Scene

In 2022, there are several up-and-coming technological trends getting ready to take the construction industry by storm. From new equipment models to updated technology, your clients may want to invest in some high-tech upgrades throughout the year. Some top pieces of tech to keep an eye on include:

  • Wearable tech to help reduce noise pollution
  • Brick-laying robots and construction-supporting drones
  • Noise-detecting environmental sensors
  • Personal safety and health gear
  • 3D printing and augmented reality modeling
  • Advanced computer algorithms

Companies May Need To Work Harder To Lure Construction Workers

The construction industry has been experiencing a dearth of qualified construction workers, and this trend is poised to continue in 2022. Your clients may need to work harder to attract:

  • Young workers who may need on-the-job training
  • Experienced laborers who may expect higher pay, bonuses, and additional benefits or company perks
  • Trade school graduates who may expect stable work hours and repeat contracts or full-time employment

There are a few different ways for your clients to draw more laborers to their company. Whatever they choose to do, however, they may need to research their competition's moves to match or exceed those offerings. For instance, your clients could adapt their incentive structure and decide to:

  • Offer competitive pay rates and perks
  • Offer in-person training
  • Offer tuition and training subsidies
  • Provide flexible work schedules

Green Projects and Smart Building Construction Could Take Off

The “green,” eco-friendly trend combined with a shift towards “smart” construction looks set to take off throughout 2022. Your clients may find themselves landing smart home contracts, environmentally friendly contracts, and more. Some of the top projects your clients may want to keep an eye on in 2022 include:

  • Energy-efficient buildings
  • Smart homes with up-to-date technology
  • Office buildings outfitted with the latest “green” equipment

If your construction insurance clients are wondering what the top 2022 trends are, this list could help give them a taste of what they should prepare for. Knowing the top trends can help your clients get a head start on cutting-edge moves and perhaps even edge out the competition in the next year. From smart homes and green projects to changing incentive structures for laborers to using upgraded equipment and more, these trends could take off in 2022. ◼


news pic 12-12-22.jpg

How HOAs Can Minimize Risk

December 12, 2022 | HOAs must contend with numerous risks to their operations. Implementing a comprehensive risk management plan addressing potential losses and… more ▶

news pic 12-1-22.jpg

Who Needs Force-Placed Insurance?

December 1, 2022 | Financial institutions that fund home loans often maintain strict standards for borrowers. In addition to the initial criteria applicants must meet… more ▶

news pic 11-28-22.jpg

Risk Management for Holiday Gatherings

November 28, 2022 | Holiday gatherings are fun for employees to enjoy socialization off the clock. It’s an annual tradition, but it also comes with various risks… more