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To lower your total cost of risk, first measure its elements

I’ve just begun digging in to Aon’s 2013 Global Risk Management Survey, a web-based biennial research report, and I recommend it highly to all risk managers. The survey’s findings on how organizations look at total cost of risk (TCOR) immediately caught my attention. The importance of tracking and managing TCOR was the focus of my previous blog post; the 2013 Global Risk Management Survey (GRMS) supports the proposition that, although most organizations understand the value of measuring TCOR, most companies struggle to get a handle on this essential function.

Topics: risk management software total cost of risk

Answering your risk and safety questions with risk mapping

In a recent project I have been engaged in to extend business intelligence capabilities through geographic mapping, I have had occasion to speak with several customers who are testing out this new style of reporting. One thing that has struck me in conversations with these customers is the power of geographic mapping when it is embedded within a business intelligence application to convey a message. This would be referred to as intelligent risk mapping. Customers find a certain immediacy and impact to these reports, and a message pops right out that answers certain key questions relating to their business.

Topics: risk management risk management software Analytics, Reporting & Data Visualization

3 Ways to Transform the OSHA Reporting and Recordkeeping Process

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On March 21, Christina Ellefson, corporate claims administrator with Quad Graphics, and I led a webinar for Aon eSolutions' clients on the topic of improving management of the OSHA recordkeeping and reporting process. Under Christina’'s leadership, Quad Graphics has transformed the OSHA process into an integral part of the company'’s broader safety and claims management programs.

Topics: risk management software