Canadian-based LCM Solutions and Cloudastructure, Inc. have signed a global collaboration agreement expanding cloud video surveillance and IoT cybersecurity to LCM’s network. According to the latter, the partnership agreement is Cloudastructure’s first move into the Canadian market.

The company’s say that LCM Solutions‘ recognition of Cloudastructure’s cloud-based security platform paves the way for the startup to assist LCM and its portfolio partners with their efforts to standardize security surveillance, prevent losses and improve core operating efficiencies.

LCM Solutions Partner Scott McFie commented: “At LCM, we are committed to trust, transparency and the accurate articulation of risk delivering improved risks and profitability for our partners. Cloudastructure’s technology fits with our mission, aligning innovative risk resource technology partners. We are excited to support Cloudastructure to achieve market growth across multiple segments via our global network and reach within the insurance ecosystem.”

The engineering of Cloudastructure’s software platform enables companies to simplify the identification of security and safety conditions, notify clients of impending risks imposed by breaches, as well as provide the capacity to take action in real time, according to the company. The goal is to significantly reduce clients’ incidence and inherent risks, high damage costs yielding operational effectiveness and decreasing indemnity burdens and reducing property loss premiums and on-site security costs.

Cloudastructure Chief Revenue Officer (CRO) Lauren O’Brien commented: “We are excited and proud to partner with LCM. Their reputation precedes them. We aim to bring incalculable value to their customers, saving them time and money by reducing losses and thereby lowering insurance premiums.”