System Speed and Response – Optimum Performance

“Today any corporate risk management office not only has responsibilities over the insurance, also often has responsibilities over safety, loss-prevention, claims, litigation, and a myriad of additional areas, plus the emerging and expanding ERM function. Today’s risk manager has to be a lot more astute, a lot more prepared to meet the requests and demands of their executive levels then they ever were even 10 years ago. Times have changed in our function and responsibilities have changed. It’s an exciting time to be a risk manager.”

- Riskonnect client of a large, global, not-for-profit organization

System Performance is a virtuous cycle of efficiency. Riskonnect develops and configures faster, providing clients with better tools and capabilities. Clients are able to work faster and more efficiently. Clients are able to advance their projects and programs.

System Performance is key to ensuring:

• A RMIS that is able to match client’s business processes
• A RMIS that can extend to match client’s growing, improved business processes
• A RMIS that can be used more broadly than just managing claims
• A RMIS that can react to changing client business requirements
• Technology that replaces time-consuming, manual and unreliable processes with automated workflow and approval processes
• Technology that eliminated multiple duplicate systems and processes entering claims
• Technology that enables easily configuring reports
• Technology that provides information on demand – with no wait times for returns on queries, searches, maneuvering in claims, reporting, etc.
• Technology that enables the risk management team to do more themselves - self-service administrative tasks, setting up a workflow, or creating a special view for a client of or for a user
• Consistent documentation, activity history, audit trails
• Data quality through validation rules
• No worries about hardware or upgrades
• Faster implementations

A favorite feature of the Riskonnect system of a large, global not-for-profit client is the automation and workflow used to automated its accounting codes.

“Claim assistants don’t really have the accounting training and the understanding, and we didn’t want them to have to have that. So we’ve been able to automate the accounting for all of our payment requests. This makes the payment entry much easier. In fact, we can make a payment request in seconds in Riskonnect. We’ve also been able to update or fill in about 20% of the fields that we enter on a claim are now filled in through a business rule and on a payment request, 75% of those fields are filled in through a business rule, making a payment request easy to enter in Riskonnect.”

- Riskonnect client of a large, global not-for-profit organization