Tennessee-based Diversified Product Inspections, Inc., a provider of independent product failure analysis, air contamination and fire investigations for the insurance industry announced that the company is in the final development stages of HomeCheckSafety.com, a safety and loss prevention program based on DPI’s database of more than 380,000 failed and recalled products.
Matt Walters, vice president of information technology said, “DPI signed a development contract with Webservio and Business Information Group in June and we expect that HomeCheckSafety.com will be up and running by late September. This program will help homeowners identify recalled and unsafe products in their homes, thereby becoming an important loss prevention tool for the insurance industry. DPI’s core business of providing forensic investigations on failed products, which our insurance industry clients use as a basis for subrogation and recovery programs against manufacturers of faulty products, is a major emphasis for insurance companies looking to cut costs.
“With DPI’s new HomeCheckSafety.com program, insurance companies have another tool, loss prevention, to use to increase their profitability. With a cost of $60 annually per household and considering the millions of policy holders our insurance company clients have, a small percentage of participation could mean significant revenues for DPI. DPI will initiate a pilot program with its larger insurance company clients in the last quarter of 2003 and the first quarter of 2004. We will also begin a broader marketing program, ‘HomeCheckSafety.com, the Pentagon for Protection’, which highlights the benefits to five segments of our economy, the insurance industry, individual homeowners, retail industry, fund-raising organizations and manufacturers.”
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