A risk management information system isn't suitable for all businesses.
Typically, businesses using sophisticated enterprise risk management software, like Aons RiskConsole, have one or more of the following characteristics:
Visibility challenges:
- A large number of risks to track, for example, properties, policies, business units, vehicle fleets
and assets.
- Multiple risk information sources with no integrated, single view.
- No overview of incidents/claims below the deductible.
Admistrative process challenges:
- Complex claims management processes and/or third-party administrators to manage.
- Renewal headaches – lengthy data collection and consolidation processes.
- Outdated systems or spreadsheets for information processing.
Risk financing challenges:
- In-depth risk financing approach.
- Complex insurance set-up with multiple insurers.
- A large amount of self-insured retention with a limited overview of incidents/claims below the
deductible level.
International/global challenges:
- Complex/dynamic organizational structure.
- Large and/or complex international insurance policies.
- Multi-language and/or multi-currency requirements.
- Geographically dispersed data-entry and reporting from multiple locations.
Is a risk management information system software right for your organization? Find out by downloading our new Definitive Guide to a Risk Management Information System.