Business Intelligence Technology and Reporting -- Bringing Together Risk Management and Safety Data

Integrated Risk Data Yields Better Analysis and Improved Cost Controls

How are Riskonnect clients Gaining Value from Business Intelligence Technology and Reporting?

With heightened attention on risk management, risk management and safety departments are using advanced technology solutions to provide quantitative analysis, improving your cost controls without cutting your head count. Risk managers and safety professionals are well-positioned to reach across the aisles to integrate information and realize the bottom-line results senior management and key stakeholders demand. Risk Management executives and safety professionals can now provide enterprise-class, integrated risk management solutions combined with business intelligence all on one risk management work platform.

Recent Studies Show
• Only 27% said that risk-management function played a
   significant role in setting objectives
   and managing performance
• Ambiguous divisions of responsibility concerning risk between
   corporate and business units: 78%
• Lack of company-wide processes that could provide a complete
   picture of the impact of risk exposure: 78%
• Inadequate availability of timely risk, finance and
   business data: 80%
   Source: Accenture 2009 Global Risk Management Study

How Can Organizations Gain Greater Value from Risk Management? 

• Expect More from Technology
• Eliminate Disparate Systems
• Embrace Technology that Enables Improved Warning          
• Capabilities
   -Key Risk Indicators (KRIs)
   -Key Performance Indicators (KPIs)
   -Before financial and strategic impact is realized

• Risk Management and Safety data integrated across
   multiple hierarchies
• Reporting and drill up/down on multiple hierarchies for
   management by department, locations and cost centers
• Ability to pinpoint incident rates, claim counts, incurred,
   paid losses per manager, and other metrics
• Graphical and interactive reports and dashboards for senior
   management review with drill up/down and drill through
• Scorecards by unit and by numerous metrics for analysis
   and reporting, such as by Claim, Claim Transaction, Business 
   Unit, Locations, Exposures, Property, Property Values
• Replacing spreadsheets and other tools with a central
   repository for risk and safety-related data enabling more
   complete data, real-time reporting, improved analysis
   and more actionable results

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