Shared Databases and the Economics of Loss Prevention
One company's incident is another company's warning. GuestCHEX is built on that idea.
By James Corcoran
Published
Loss prevention is an information problem before it is anything else. A business acting alone learns only from its own losses, and always after the fact. The same business connected to a network of peers can learn from everyone's losses, and sometimes before its own.
That is the thinking behind GuestCHEX, a set of Theft, Rent, and Guest Chex databases now in development at Toozit. The premise is that loss and damages are a shared cost best reduced with shared data, pooled across companies and available at the moment a decision is made.
Built on the CISE - Configurable Instrument Schema Engine and Powered by ToozitCORE, GuestCHEX is designed to ship as a platform operators can run rather than infrastructure they build. It is early, but the direction is clear: turn isolated incidents into shared signal. See more at Toozit and ToozitCORE.
Source: New London Media
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