Are you still spending hours trying to consolidate your renewal data into spreadsheets and manually extract data from numerous sources to get meaningful reports – all the while hoping that the information is accurate and reliable? New RMIS software makes it easy manage large amounts of risk, safety, and claims data so you can discover new insights and trends in record time with few resources. So if you still find yourself trying to manage risk with spreadsheets or other outdated tools, it’s probably time to look at a RMIS.
Here are 4 ways a RMIS will make your life easier:
1. Intelligent decision-making
- Consolidates real-time risk, safety, and claims data to identify trends, risks, and opportunities so action can be taken.
- Provides a centralized view to help you better understand the relationships between critical risks and the cumulative impact on the organization.
- Delivers powerful analytics that provide strategic insights to optimize your insurance program.
- Creates easy-to-interpret reports that communicate a clearer picture of your risk, safety, and claims data.
2. Higher productivity
- Eliminates duplicate systems, which reduces costs.
- Saves time by automatically collecting data into a standardized format.
- Automatically sends alerts, reminders, and regular progress reports to key stakeholders.
- Allows any authorized user to access real-time information anytime, from anywhere, on any device.
3. Better data quality
- Captures data consistently and thoroughly with standard templates, intuitive forms, and auto-filled fields.
- Minimizes human error by guiding users through the data collection process.
- Automatically validates data as it is entered, and flags any unexpected, missing, or inconsistent data fields.
- Seamlessly integrates data from multiple internal and external data sources, including carriers, TPAs, third party vendors, and your own internal departments, to ensure data is captured in a common language.
4. Tight security
- Restricts access to authorized users, using the highest level of security.
- Documents all changes so you know who made what change, when they did it, and why.
- Stores data in a secure, cloud-based system with sophisticated disaster-recovery protection.
Want to learn more about RMIS, including popular RMIS uses and their values? Check out our Complete Guide to RMIS (click here).