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Risk pools and the status quo of their risk management information software

As the member of the Aon eSolutions Product Management team charged with development of our offering to risk pools, I listened with interest to the on-demand webinar that we released last month featuring Craig Bowlus, managing director of the Aon Risk Solutions Risk Pooling practice, and Michael Theut, senior solutions consultant with Aon eSolutions. 

The webinar that Craig and Mike led, as well as the blog post that Craig penned at the time, focused on the “going forward” aspect of risk management software and how risk pools are adopting new and emerging technology trends. I think looking ahead was the right focus for the webinar; however, the session got me thinking about where risk pools were and are coming from with their risk management information software and processes. 

Topics: risk management insurance pool

6 short, true stories of how risk managers are reaping bottom-line results with Intelligent Mapping location analytics

With the end of the year approaching, it’s a good time to take stock of some achievements reached over the last year. One achievement for Aon eSolutions was the deployment of our Intelligent Mapping application. I have written previously in this blog on our Intelligent Mapping application (click my name, above, for links to those posts) and the benefits it might have for risk managers using Aon RiskConsole risk management software. At the beginning of the year, these benefits existed only in the theoretical realm, since the application had not yet been deployed to any clients. 

Now with almost a year gone by and with the adoption of the application by a number of our clients, we have some experience under our belt on what the actual benefits of the application are. With this in mind, I thought I would close out the year with a recap of some of these benefits. Please read below to find out how six of your peers have incorporated mapping technology into their work as risk managers.

Topics: risk management analytics

Bringing the weather into risk management: A new report on how businesses can better protect themselves

Risk managers might find of interest a report released last week by Allianz Global Corporate & Specialty entitled: “The Weather Business: How companies can protect against increasing weather volatility.”  The report focuses on the weather risks that businesses face and how companies can protect themselves by using new approaches to the relatively young practice of “weather risk management.”

I found this assertion, developed at length in the report, to be one of the study’s most interesting and thought-provoking premises: 

The weather does not have to be extreme in order to have a negative impact on cash flows. Sometimes it is merely enough for it to be uncommon, unseasonal or even unexpected. For many businesses small changes in temperature, rainfall, sunshine, snowfall and wind levels can mean a large change in income.

View the on-demand webinar: Enterprise Risk Management: Advancing from spreadsheets to a formal system

If you’re interested in enterprise risk management, I encourage you to view a recent webinar hosted by Aon eSolutions called ERM: Advancing from spreadsheets to a formal system. The webinar runs for 35-minutes and includes presentations from Justin Lovell, business risk manager in the chief risk office of Aon UK Ltd., and Angus Rhodes, RMIS consultant with Aon eSolutions. The webinar was recorded from a live, online presentation given Friday, December 6.

Topics: enterprise risk management

Iliinsky’s 4 pillars of effective “data visualization”—for risk, claims and safety managers

Last month, I led a webinar for Aon eSolutions clients on the topic of “Effective Reporting and Visualization.” The webinar was part of the Third Thursday Client Webinar Series, which is an informational, education-oriented monthly virtual presentation focusing on a topic of importance to our clients in the fields of risk management, claims administration and safety management. 

In recent months, I’ve spent a lot of time researching the theory and practice of effective data visualization, which was a big part of last month’s webinar. In this blog post, I’d like to give an overview of what effective data visualization can mean for risk, claims and safety managers. 

Topics: risk management software risk management data reporting and data visualization