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AIRMIC members see the Insurance Act as their highest concern

At this years' AIRMIC conference in Harrogate, we carried out a survey to determine the risk communities highest concern at the moment. Unsurprisingly, the impact of the Insurance Act came out on top with 31% of those who surveyed.

Topics: risk management RMIS insurance act airmic

Airmic 2016: The Insurance Act, a new frontier in risk?

This year’s AIRMIC conference was held at the HIC in Harrogate, from Monday 6th June – Wednesday 8th June, and focused on “New frontiers in risk” within the world of Insurance, which enabled numerous organisations to delve into the world of risk prevention and management, industry innovation, employee benefits, and much more.

Topics: risk management RMIS insurance act

A Thought from RIMS 2016 - RMIS Implementation Lessons Learned

With obvious interest, I attended a session at the 2016 RIMS Conference in San Diego moderated by Dave Tweedy of Bickmore, entitled “Critical Factors:  Selection Claims and Risk Management Information Systems”. On Dave’s panel were Michele Adams of The Walt Disney Company, Ron Carlson of The Church of Jesus Christ of Latter-day Saints, and Jeff Rowley of Salt Lake County, Utah. This was a well-constructed panel with a wide variety of viewpoints and experiences to share.

Topics: RMIS RIMS 2016

How Risk Management Software (RMIS) Saves Money

Most company managers are looking for ways for businesses to save money and grow. The Occupational Health and Safety Administration, usually called OSHA, declares that managing risks adds value to businesses. It's obvious that reducing work-related accidents and illnesses can reduce insurance premiums and related costs. However, safety also demonstrates value by helping to maintain a positive brand image and improving employee morale and productivity.

Topics: risk management RMIS risk management information system

Top 5 Risk Management Myths

Many companies avoid utilizing risk management software due to their belief that risk management software and risk management information systems are prohibitively expensive. In actuality, risk management software and a quality risk management information system is one of the safest, easiest and cost affordable ways for a company to mitigate risk. There are plenty of other myths that businesses believe regarding risk management, which in turn prevent businesses from operating at their maximum potential. This article highlights five myths that businesses believe to their detriment.

Topics: RMIS risk management information system myths fun facts

What is an RMIS (Risk Management Information System)?

A Risk Management Information System (RMIS) is an integrated computer information system that is used to help decision makers evaluate risks and keep track of all relevant information. This information includes risk exposure, risk protection measures, and risk management. Examples of stored information include loss-control measures, property values, records of prior claims, and relevant insurance policies.

Topics: risk management RMIS

The Definitive Guide to Commercial Insurance Renewal

Collecting, consolidating and understanding the depth of data needed for the commercial insurance renewal process can be a daunting task for Risk/Insurance Managers, especially if they have to manage that process using a manual spreadsheet based system. Collecting data on hundreds, or even thousands, of commercial properties and managing this highly detailed data in a spreadsheet is not only a Risk/Insurance Managers worst nightmare, it also significantly increases the potential for human error and inaccurate data.

Topics: risk management RMIS risk management information system commercial insurance commercial insurance renewal

The Benefits of Using RiskConsole for Commercial Insurance Renewal

Using a Risk Management Information System (RMIS) in the commercial insurance renewal process can reduce the burden of creating endless spreadsheets, managing the submission of data on time and ensuring that the correct level of data is provided in the first instance. Being able to automate email workflows, design industry standard questionnaires and collate and coordinate detailed data from multiple locations not only benefits Risk/Insurance Managers but everyone in the commercial insurance renewal process. Brokers, Actuaries and Underwriters, and ultimately the organization, benefit from having a coordinated approach.

Topics: risk management RMIS insurance renewal commercial insurance commercial insurance renewal RiskConsole

7 Key Benefits of Using An RMIS For Your Commercial Insurance Renewal

When undertaking a commercial insurance renewal process, collating and analyzing the large volume of detailed data required can be a daunting prospect, especially if that data is recorded in spreadsheets or on paper. Wouldn’t it make good business sense to streamline that process and reduce the burden on internal resources?

Topics: RMIS insurance renewal commercial insurance commercial insurance renewal

What Information Is Needed During the Commercial Insurance Renewal?

The devil is in the details and when it comes to renewing your commercial insurance a lack of detail is very likely to result in a higher premium.

Topics: RMIS insurance renewal commercial insurance renewal