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 [...]
The acronym RMIS stands for Risk Management Information System in English and Système d’Information de Gestion du Risque (SIGR) in French. Although it has been used for over 30 years (according to Wikipedia, the [...]
Total cost of risk, or TCOR, is still not a widely used metric in the risk management field. I wonder why? Maybe because it is hard to derive and fully understand, and maybe it [...]
As well as the functionality you'd expect, such as claims management, today a risk management information system provides a wide range of functionality as standard. What is most important, however, is that your RMIS [...]
A company’s ethos is set from the top, so shouldn’t it make sense that senior figures need to set the tone for the risk management culture as well? “You can’t control people through policies, procedures [...]
If the recent past is any indication, the not-so-distant future is likely to bring about even more complicated challenges in 2024 and beyond. However, with these challenges come opportunities as well, and firms with [...]
A successful risk manager is one that accomplishes his or her goals, but also achieves success through a well-balanced life. To be happy and successful, you'll need to construct a daily routine that addresses the fundamentals and tasks of your job [...]
Does your insurance lifecycle work like a luxury timepiece? Or does it feel more like a vicious cycle of stress? The current insurance environment is challenging, with more rules and regulations every year. Also, you [...]
Climate change describes A CHANGE IN GLOBAL TEMPERATURE AND WEATHER PATTERNS. These patterns are changing in unpredictable ways due to both natural and unnatural factors, such as human and industrial activities. According to the [...]
Automation uses computer programs to perform certain tasks without any human intervention. In business, these software-powered activities can range from automated manufacturing processes to office tasks like sending out marketing emails or text messages. [...]
A good risk culture should reward decision-makers at all levels of the hierarchy and enable them to take the right risks while being as well informed as possible . The following criteria make it possible [...]
As the insurance claims management ecosystem continues to evolve, now is the ideal time to reimagine the claims journey. Insurance carriers have much to gain by leveraging modern advanced technology. Insurers have the opportunity [...]
