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Was it an “incident” or an “accident”? How a shared risk lexicon facilitates effective communication across a company

Over the course of my career as a risk manager, I’ve come to understand the importance of—and ongoing challenge in—aligning the risk management department’s priorities with those of the C-suite. Just last week, I read a great article, published by Advisen, about potential disconnects between risk management and the C-suite.

The article got me thinking about the importance of communication in the practice of risk management. Specifically, when it comes to communication between risk management and the C-suite, translating risk and insurance jargon into meaningful business terminology is one of the more common challenges for risk managers.

Topics: incident management

The Flow of Risk Management Data in Corporations

Do you understand how risk management data flows through your organization, arrives at your desk in a useful manner, and hopefully, contributes to good decisions all over your company? Defining the way that information moves in a company or other organization may help provide you with insights about ways the process can be streamlined and made more efficient and effective. This risk management data flow could be independent of any computer systems (or lack of them) to begin with. Of course, the right technology can make this entire process more efficient and productive.

Topics: incident management data management

What To Expect When Integrating A New RMIS In Your Business

The day that your company decides to integrate a risk management information system, or RMIS, into your business is a very good day. This is true for everybody in your company from the workers on the shop floor right up to the boardroom or owner's office. Numerous studies have demonstrated that safe workplaces enjoy productive and happy employees and better bottom lines. While the transition might take some extra effort, it should be relatively simple when compared to the traditional, time consuming, and error prone methods of having to gather and correct data from multiple sources and make decisions based off of faulty and incomplete information.

Topics: risk management best practices incident management