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Aon eSolutions



01

The Denitive Guide to a Risk Management Inormation System

02 Why you should read this guide?

03 Determine i you need a Risk Management Inormation System (RMIS)

04 What is a RMIS and how can it help me?

06 Who uses a RMIS?

07 What does a RMIS do?

08 Why are organizations now investing in a RMIS?

10 RMIS unctionality

16 Risk reporting and mapping

17 Access when you’re on the move

18 Beyond the system and RMIS unctionality

20 ROI in ocus

24 Gaining internal approval

26 RMIS selection criteria

28 Six steps to purchasing your RMIS

29 Why Aon eSolutions or your RMIS?

30 A quick recap...

31 Contact details or Aon eSolutions

Tabe o Contents



The Defnitive Guide to a Risk Management Inormation System

In order to help organization’s lower their total cost o risk, insurance and risk proessionals need to

be able to instantaneously cross-examine their risk and insurance data. However, many organizations

struggle to achieve this goal, spending valuable time manually manipulating and consolidating theirenterprise-wide data. This is oten at the expense o being able to add real value to their organizations

by, helping reduce losses and proactively manage and mitigate risks.

This guide oos to provide a vauabe insight into how

a Ris Management Inormation System (RMIS) can hep

your organization and, specicay:

1. Demonstrates what types o businesses use

a RMIS (page 06).

2. Expains what a RMIS does and the vaue

it brings (pages 04 and 05).

3. Find out i you reay need a RMIS

(page 03).

4. Deveop the business case or investing

in a RMIS (page 20).

5. And, discover what steps you shoud taeto purchase one (page 28).

The guide is aso paced with cient testimonias,

insights rom industry research, and practica

worsheets to determine i your organization

needs a RMIS and the vaue it can provide.

We hope this guide wi be a useu resource

whether you’re investing in a RMIS or the rst

time or re-evauating your current suppier.

Why you shoud read this guide?

02




03

Unsure i you need a RMIS? Simply answer the ollowing questions with a ‘yes’ or ‘no’ and nd out

i you should consider investing in a RMIS.

Determine i you need a Ris Management Inormation System (RMIS)

Your results

The majority o your answers were a no

You need to act quicy and seriousy

consider purchasing a RMIS as a priority.

The majority o your answers were a yesIt sounds ie you are in contro o your ris

management inormation and probaby

aready have a RMIS that does the job.

I you have an equal amount o yeses

and nos

It oos ie you are oten annoyed by

weanesses in your ris management

inormation process. Now is a good time

to thin seriousy about a RMIS that can

hep overcome some o your rustrations.

1. Is a your ris and insurance inormation readiyavaiabe at the press o a button?

2. Are you condent that your ris and insurance data isaccurate and reiabe?

3. Can you be sure there are no gaps or dupications in your insurance coverage?

4. Do you thin your renewa process taes too ong tocompete – rom capturing data to maret submission?

5. Do you thin you are abe to negotiate the highest-quaity insurance coverage and optimum premiums

or your riss?

6. Is it easy or you to gather and store your insurancemanagement inormation in one pace?

7. Is it easy to obtain a u ve-year history o inormationon your insurance management data, incuding caimsrecords?

8. I you have muti-anguage and muti-currency

programs, is it easy to consoidate inormation?

9. I you outsource data handing to a third party, do you ee uy in contro o your inormation and that databeing gathered is up-to-date, accurate and ept secure?

10. Are you abe to coect caims payments and audit andreconcie the amounts easiy?

Start

Finish

Did you know?

Typically an underwriter will

use up to 56 data points to

price an individual asset.



The short answer is...

...a RMIS is a technology system that enables you to capture, manage and analyze all your organization’s

risk and insurance data in a single, secure system. Using a RMIS, organizations like yours, can improve

department eciencies and generate savings on your total cost o risk. But, a RMIS and the expert

support behind it, oers much, much more. A RMIS helps you to:

What is a RMIS and how can it hep me?

04


Athough data accuracy wi aways rey on peope,a RMIS can hep in the oowing ways:

· Automaticay highighting to users, at the point

o entry, vaues that may contain errors.

· Ensuring consistent synchronization o data rom

mutipe sources.

· Providing context hep or users.

· Buiding adaptive questionnaires, orms, and

interaces that as users or reevant data ony.

· Speciying ed constraints (or exampe, drop-

down options), mandatory eds, deauts, and

other vaidation ogic.

· Post data-entry ceaning and automatic vaidation

against business rues.

“We elt certain we could optimize

our total cost o risk by basing our risk

and insurance decisions on the soundest

possible data.

” AN DR IT Z

A RMIS heps you to automate many manua processessuch as:

· Data consoidation and vaidation against business

rues. This incudes transorming data into a singe

currency and anguage or reporting purposes.

· Data imports rom existing systems, such as

third-party administrator systems or insurance

carriers, data processing and data exports, and

ERP and HR systems.

· Aerts and escaations, such as emai noticationswhen a caim reaches a certain threshod.

· Popuating pre-buit reports and dashboards.

· And distributing inormation to staehoders,

aocating premiums to business units and

invoicing and tracing payments rom insurers.

Reduce administrative burdensImprove data accuracy



One o the biggest benets o a RMIS is the abiity tobuid interactive reports that organize and interpret a

your ris and insurance data.

The resut is a snapshot view that wi enabe:

· Better strategic decision-maing and aocation

o nancia and human capita.

· Activey promote saety and oss contro and,

deiver a consistent ris cuture.

· Optimize ris transer costs.

· Better manage retained riss and captive

management.

· Measure progress towards ris management goas.

What is a RMIS and how can it hep me?

05


A RMIS wi enabe data to be entered romacross your organization into a singe system,

iteray anytime and anywhere. So you’ have

a ive view o a your riss and exposures and

the abiity to:

· Spot trends and potentia osses quicy so

corrective measures can be put in pace.

· Aert staehoders about potentia exposures.

· Proactivey manage and mitigate your riss.

Mitigate losses

Make inormed decisions about

how to lower your Total Cost o

Insurable Risk (TCOIR)

“The improvement o the entire

process, permitted by RiskConsole, is

quantiable in a 15% improvement in

the number o claims closed within a

reasonable time.

” PARMAlAT



Who uses

a RMIS?

A RMIS isn’t suitable or all businesses. Typically, businesses using a RMIS, like Aon’s RiskConsole, have one

or more o the ollowing characteristics:

Who uses a RMIS?

06


Visibility challenges

· A arge number o riss to trac, or

exampe, properties, poicies, business

units, vehice feets and assets.

· Mutipe ris inormation sources with

no integrated, singe view.

· No overview o incidents/caims beow

the deductibe.

Administrative process challenges

· Compex caims management processes

and/or third-party administrators to

manage.

· Renewa headaches – engthy data

coection and consoidation processes.

· Outdated systems or spreadsheets or

inormation processing.

Risk nancing challenges

· In-depth ris nancing approach.

· Compex insurance set-up with

mutipe insurers.

· A arge amount o se-insured retention

with a imited overview o incidents/

caims beow the deductibe eve.

International/global challenges

· Compex/dynamic organizationa structure.

· large and/or compex internationa

insurance poicies.

· Muti-anguage and/or muti-currency

requirements.

· Geographicay dispersed – data-entryand reporting rom mutipe ocations.



Incident Reporting and Caims Management

Asset Management

Enterprise Ris Management/Ris Register

Contracts/Vendor Management

Renewas/Data Coection

Ris Financing

Poicy Management

Premium Aocation and Cacuation

Insurer Ratings

What does a RMIS do?

07


I you think a RMIS is just a claims management system, think again. That’s only the start o what it does.

Here are some o the more popuar uses:

For inormation about the capabiities o the modues isted above and other eatures, pease go to pages 10-14.

“We were immediately struck by

the completeness o the system and the

possibilities it would oer Corio.

”

CORIO



08

Risk Management Inormation Systems have been around or more than 40 years, yet according to Aon’s Global Risk Technology

Survey, the majority o organizations have only really been beneting rom them or less than 10 years.

Why are organizations now investing in a RMIS?

15.2%

18.4%

27.8%

16.6%

18.8%

33.3%

18.4%

19.6%

33.3%

27.9%

66.79%

26.3%

11.1%

17.9%

50.0%

25.0%

16.7%

26.4%

14.7%

17.3%

7.9%

14.2%

50.0% 14.2% 6.1%

3.9%

5.6%

5.4%

0-1 Year 1-3 Years 3-5 Years 5-10 Years 10-20 Years 20+ years

North America

Middle East & Africa

Latin America

Europe

Asia-Pacific

All

Number of Years Organizations Have Used

Risk Technology – Regional Perspective


So, why now? Risk Management Inormation Systems are back on the priority list or many organizations or these key reasons:

1. Increased ocus

on risk management

rom the board. 2. Compliance, the

economy and increased

occurrence o natural

catastrophes.

3. More data being

managed and analyzed

by ewer sta. 4.

Brand reputation. 5. Expanding

responsibilities o

today’s risk manager.



09

Why are organizations now investing in a RMIS?


In ocus at board level

Ris management has moved up thecorporate agenda to become a board eve

concern. The pressure to produce timey

reports, which show a true picture o riss

and exposures, is more intense than ever.

Yet, ris managers strugge to deiver the

goods, with data tied up in disparate,

manuay-based systems that are hard to

pu together.

Stricter governance and regulations

and more uncertainty

We ive in a more itigious age where

governance and reguations are more

intense. Incident rates are aso on the rise

in the ace o more natura catastrophes

and a growing popuation. Furthermore,

an unsteady economy magnies the cost

o mistaes.

Brand reputation

Nowadays, compex goba suppy chains

and an internet-spawned 24-hour news cyce

ueed by socia media have posed additiona

chaenges or companies to manage riss

reated to their reputation and brand. Whie

some consider damage to reputation a ris

in its own right, others may consider it as a

consequence o other riss. Either way, it is

cear that a riss may impact or be impacted

by damage to reputation.

Expanding responsibilities

The proessiona ris manager’s roe has

expanded rom assistant to the corporate

treasurer bac in the 1960s, to incude

business continuity, compiance, corporate

governance, auditing and so on today. The

extra responsibiities put pressure on the ris

manager, which means he or she is turning

to technoogy as a aciitator, to hep speed

up processes and aid decision maing.

More data than ever beore

Whatever voumes o ris and insurance

data your business produces, a RMIS

eeps them under contro. You can merge,

anayze and share inormation about

insurance, riss, where your assets and

empoyees are based around the word,

and events that may impact them.



As well as the unctionality you’d expect, such as claims management, today a RMIS provides a wide range o unctionality as standard.

What is most important, however, is that your RMIS provider can build the system to match your processes, vocabulary, people and

evolving business needs, while also improving eciencies and delivering best practices.

The list below is not exhaustive, but provides an indication o the most popular eatures you should expect rom your preerred RMIS provider.

The unctionality section is divided into three parts; modules, eatures and beyond the system.

Modules

This section provides a snapshot o the most

popuar modues and a ist o other modues

worth considering.

Features

This section covers eatures such as worfow,

security, hosting, reporting and mapping, mobiity

and integration.

Beyond the system

This section provides an overview

o the services you shoud be ooing

to receive.

RMIS unctionaity

10




RMIS unctionaity – modues

11


Benefts:

· Enabes you to aocate premiums based on

pre-dened criteria per ine o business,

incuding bonus-maus aocations.

· Aows or premium cacuation incuding

tax tracing.

· Transparency and compiance due to data being

avaiabe or previous aocations. · Aows you to review previous years’ activities as

part o your premium aocation process.

· Aows or ‘what i’ scenarios so you can

communicate potentia premium reductions

based on perormance.

What it does:

Provides a consistent, automated methodoogy to

cacuate, aocate and monitor premiums across

business units based on caims severity, ieihood,

impact, and ris mitigation measures.

Premium Allocationand Calculation

Benefts:

· Time savings generated rom automating

questionnaire distribution and oow up and,

data vaidation and consoidation.

· More comprehensive and accurate data vaues

through dynamic questionnaires, input options,

and context setting and tootips.

·Coects data into one secure system that isavaiabe onine anywhere and anytime.

· Enabes more time to be spent on

high-vaue activities.

What it does:

A centra repository or coecting, vaidating and

cross-examining a your organization’s vaue

coections, ready or your annua renewa process

and maret submission.

Renewals/Data Collection

Benefts:

· Tracs trends and identies patterns o ris so

you can tae proactive steps to reduce them.

· Aows or additiona inormation to be

captured at the time o the incident, or

exampe, attaching image es.

· Identies ags between caims and

settements so you can manage cash-fowmore eectivey.

· Gives accurate inormation on caims beow

your deductibe eve so you can reserve the

right eve o unds to cover them.

· Handes muti-currency caims to provide

a singe view o a caims.

What it does:

Provides a compete picture o a your incidents

and types o caims activity. This enabes root

cause anaysis, contro o third-party caims

administrators and reduced caims eaage.

Incident Reporting andClaims Management



Benefts:

· Rates and monitors the perormance o your

suppiers, contractors and sub-contractors.

· Enabes a cear view o your responsibiities

and dependencies with externa providers.

· Provides the abiity to upoad and store

drats, contracts or extracts o contracts.

·Saves time, by ining with inormationstored in other modues incuding insurance

certicate management, budget, and

invoicing mechanisms.

What it does:

Coate and manage ega and ris reated

contracts rom drat through to renewas.

These may range rom contracts with principas,

agents, vendors, service providers

to subcontractor contracts.

Contracts/Vendor Management

RMIS unctionaity – modues

12


Benefts:

· Saves you the cost o over insurance and

prevents the ris o under insurance.

· Gives a detaied view o oca poicies so you can

ensure that mandatory country-specic cover is

in pace.

· Ensures consistency or dierent ines o

coverage, or exampe, so country operations

wor to the same imits o coverage.

· Heps you manage oss ratio reporting more

ecienty.

· Enabes you to move rom paper-based poicy

management to storing records and documents

eectronicay that are easy to access and audit.

What it does:

Aows you to get to grips with a your insurance

poicies, incuding oca, ronting and goba, to

provide u transparency, heping you to avoid

dupication or gaps.

Policy Management

Benefts:

· Aows you to prioritize recommendations,

ensuring ris management budgets are spent on

ey areas o ris improvement and assess their

impact on premium eves.

· Enabes you to trac mutipe oss estimates.

· Enabes you to group assets by territory, so you

can ne-tune your understanding o high and

ow ris ocations.

· Avoiding over or under insuring with accurate

property vaues and the right sums insured.

What it does:

Provides you with consistent and updatabe

inormation on a your physica assets and, overays

your assets and exposures with insurance data,

natura catastrophe and poitica inormation.

Asset Management



Benefts: · Ability to be proactive when insurer ratings

change. · Understand exposures across the entire

transerred portolio in terms o insurer credit

rating stability, enabling more eective

insurance buying and spread o exposure. · Helps improve compliance with governance,

control and transparency. · Facilitates risk transer strategies to manage

counter-party credit risk exposures.

What it does:

Rates the fnancial strength o your risk carriers using

leading credit rating agencies, Standard & Poor’s

and AM Best.

Insurer Ratings

RMIS unctionality – modules

13


Benefts: · Provides a global view to track aggregate erosion

o unds or your retention, as well as insured

limits and aggregates. · Enables easy statements o outstanding recoveries

by insurer as well as detailed loss ratio analysis.

· Enables you to look at total premiums paid to the

market per program and how they have been

impacted by claims, so you can budget your

retention more accurately. · Displays inormation graphically so it is easy to

understand. · Helps captive insurance companies ensure

compliance with Solvency II capital requirements.

What it does:

Allows the policy record to show the claims costs

split by participating insurers and reinsurers, and

layers and, shows the relevant loss ratios, including

real time erosion o policy limits and aggregate.

Risk Financing

Benefts: · Simplifes and automates the way you identiy

and update your risks. · Measures whether controls to reduce risks are

being implemented and are eective. · Weights your risks globally according to

specifc measures such as turnover, so you

can understand the relationship between

business activities and the risks they carry.

What it does:

Enables you to log, map and manage your risks

and share inormation with your organization’s

auditors, health and saety and other

departments in order to assess your appetite or,

and response to risks.

Enterprise Risk Management/Risk Register



As well as meeting your needs today, it’s worth ensuring additional modules are also available. These should include:

Product Module

Mitigating osses through suppy chain tracing

Litigation Management

Managing and tracing ega actions

Environmental Module

Certiying your property portoios’ environmenta

compiance

Contract Management

Driving consistency in the management o contracts

Clinical Trials/Certicates

Insurance or pharmaceutica trias and issuing

o certicates

Employee Module

lining your empoyees to assets and other modues

RMIS unctionaity – other modues

14


“Looking to the uture, we know there

is so much more that we can do with the

system. RiskConsole has delivered fexibility,

dependability and peace o mind.

”

TRANSl INk



Here are some additional eatures worth considering when investing in a Risk Management Inormation System.

RMIS unctionaity – eatures

15


Geographical mapping

High speed connection and usage

Hosting

Workfow automation

Security

Comprehensive help and tutorials

Data loading in multiple ormats Personalized interace views and set up

Multi-lingual and multi-currency

Mobility

Sel-service setup Integration

On-demand reporting



Reporting and analytics give the ability to transorm all your data into easy to read and interactive charts

and graphs that aid decision making. All vendors provide some level o in-built reporting and mapping,

but the depth and ease-o-use will vary greatly.

Standard templates

A ibrary o reports at your ngertips, incuding

premium oss ratio, property banding report, top

10 causes, interna benchmaring, point-to-point

comparison, property and asset maps, oss trianges,

and premium movement.

Sel-service dashboard building

Eortessy create iteray any dashboard or report

you need.

Interactive reports

Fuy interactive reports aow you to view data rom

an enterprise-wide eve to a specic eement, ris and

exposure. This wi enabe you to quicy interpret data,

estabish root causes and pay out dierent scenarios.

Ofine reports with ull unctionality

Enabing viewers to have the fexibiity to investigate

and contro the data, without being onine or

connected.

Mapping

Overay your property and asset riss with NATCAT

and poitica upheava inormation to add context to your exposures and territories.

Mobile access

A your reports shoud be accessibe on tabets

and smartphones. In addition, you shoud have

the capabiity to buid additiona reports whie on

the move.

Workfow and distribution

The abiity to dene worfows and, automaticay

schedue and distribute reports, in a wide range

o ormats.

Ris reporting and mapping

16


“With inormation now compiled

and housed in one central location,

we can run a broad array o risk

management reports.

”

STARWOOD HOTElS & RESORTS



· Inormation can be captured and

communicated quicy.

· Entering data directy on a tabet reduces

the paperwor, error rate and time it taes to

input inormation manuay when you’re bac

in the oce.

· Capturing data, reports, diagrams and photos

on mobie devices heps speed up caims

management and processing.

· Mobie devices mae meetings and

presentations easier with a the inormation

you need at your ngertips.

Anywhere/anytime computing is now the norm. Even laptops are too cumbersome or many

eld-based activities. Organizations now view tablet PCs as serious business tools. With RMIS

unctionality available on tablets you immediately improve speed and accuracy when you gathersource data.

Access when you’re on the move

17




Sales

The review and seection process is critica. Your

preerred suppier shoud be abe to demonstratethe oowing attributes as a minimum:

· Understand your needs and chaenges.

· Show you how the system can hep overcome

your chaenges.

· Strong communication sis and, abiity to

nowedgaby discuss ris management.

Implementations

Appropriate processes and methodoogies that

are fexibe and have evoved with experience toensure you’re:

· Comortabe with the system and receive

appropriate training or a your users.

· Provided with best practice advice that

speeds up depoyment times.

· kept up-to-date with progress.

· Achieving your kPIs and expectations

are being met.

Although many Risk Management Inormation Systems boast all the technology bells and whistles, you’ll always need

to partner with people you can get along with. Also, when you consider a RMIS, you should ensure it comes rom a

provider who demonstrates both technology and insurance expertise.

Beyond the system and RMIS unctionaity

18


“Aon eSolutions was very good at

explaining and demonstrating the system,

and we’re now beginning to see the results

o all this hard work.

”CORIO



Support

Hepdes support shoud be provided by experienced

insurance and technoogy speciaists who can answer the majority o your queries immediatey. Consider:

· loca support in your oca anguage.

· 24/7 avaiabiity.

· Mutipe ways to contact support, incuding

teephone, emai and an onine porta.

Account Management

Ongoing and dedicated support rom a partner that

eeps you up-to-date with:

· Reguar meetings.

· New product updates and unctionaity

enhancements.

· Proactivey suggest how you can gain extra cost

and eciency savings.

· Networing and idea-sharing events with other RMIS users across a range o industries, such as

webinars and conerences.

· Best practices and essons earned rom deaing

with other customers.

Beyond the system and RMIS unctionaity

19


“Everyone has been very willing tohelp us to accomplish what we want. The

team at eSolutions has been fexible and

understands our requirements, meaning

that RiskConsole has been congured to

meet our specic needs. We couldn’t ask

or more.

”HEINZ



As well as the key benets listed on pages 04 and 05, to ensure projects get o the ground any system purchase relies

on being able to show measurable cost savings.

Based on industry standards, Aon’s own research and other sources, a RMIS can provide potentia savings on insurabe ris

expenditure in three main areas:

ROI in ocus

20

Total estimated annual saving o 4 – 9% o an organization’s Total Cost o Insurable Risk (TCOIR)


17%Retained Risk

Cost

20%Risk Management

Cost63%Risk Transer

Cost

Deivering a

potentia saving o

3 – 8%

Deivering a

potentia saving o 5 – 10%

Deivering a

potentia saving o

10 – 15%

Organization’s Total Cost o Insurable Risk (TCOIR)



To help you work out the types o savings your organization could

generate rom a RMIS, Aon eSolutions has developed an interactive

ROI calculator. Simply visit www.aon-esolutions.com/calculate andmodiy the amounts you currently spend on insurable risk, to show

your estimated annual savings.

Cacuate your own potentia ROI

21




Did you know?

A small percentage o participants (3.7%)

showed an increase in TCOIR. Typically, this is

due to gaps in cover that need to be nanced or

by uncovering previously unknown costs.

The results rom Aon’s Global Risk Technology Survey showed some interesting acts and gures gleaned rom over 400 risk and

insurance proessionals. The report is available or download at www.aon-esolutions.com/GRTS. Below are some o the savings

that participants highlighted.

Our survey said...

22


Survey o 400 risk and insurance proessionals Risk transer cost savings rom risk technology tools

Risk retention cost savings rom risk technology tools

1 – 10% reduction

1 – 10% reduction

over 10% reduction

over 10% reduction

44.4%

43.7%

18.5%

12.4%



A RMIS provides you with a broad view o all your risks and exposures so you can make inormed decisions that drive short-term

prot and increase long-term organizational value. Furthermore, by providing you with more accurate and reliable data, you will be

empowered to make decisions on what risks to retain or transer, risk-retention strategies and how to eectively transer risk, whichall helps lower your overall cost o risk.

How does a RMIS deiver ROI savings

23


Risk transer savings

Risk retention savingsRisk management

cost savings

· More accurate, compete and reiabe data because

o consistent data entry processes that automaticay

spot errors, od data, and missing components.

· Deiver a u picture o current and historica trends.

· More ocused insurance purchasing through a more

inormed view o your entire operation.

· less time spent managing data

and competing ow-vaue tass.

· Consoidations and data merges

are done automaticay.

· Managers no onger need to

maintain bacup systems.

· Provide the abiity to set strategies that dea withuncertainty over time.

· Empower managers with ive inormation so trends

and root causes can be quicy discovered and

where possibe prevented and reduced.

· Abiity to rapidy respond to business changes based

on ive input rom business units.



Okay, you know you need a RMIS and you’ve worked out your return on investment. Now you need to convince

your organization’s decision-makers to give the go-ahead. Here are the compelling arguments:

Gaining interna approva

24


Chie Finance Ocers

A RMIS wi hep you eep your

organization’s staehoders happy

by reducing costs, improving prot

margins to grow the business in

both the short and ong term.

Chie Inormation Ocers

and IT Directors

A RMIS deivers a rapid return

on investment, requires ceary

identied (and reativey imited)

input rom the IT department

during impementation, and

comes with u support.

Furthermore, the system is uy

accredited and oers the highesteves o security, incuding;

encryption, centra password

contros and data protection.



Gaining interna approva

25


System users

A RMIS wi simpiy and speed up

the tass you have to compete,

such as coecting data, buiding

reports and deivering them to

management. This rees up your

time to ocus on more vaue

added activities and improve

motivation by removing time

consuming manua processes.

Procurement departments

During the ‘Six steps to purchasing

a RMIS’ (see page 28), you wi have

estabished the credentias o your

RMIS provider that shoud satisy

their requirements. This wi enabe

you to provide inormation and

nancias about the suppier and

how they can deiver the best resuts

or your organization by combiningstrengths, ideas and actions.



Features and unctionality

Probaby the most important criteria to evauate as

you consider dierent RMIS providers. Mae sure you

ocus on your ey dierentiators rst and they have the

right unctionaity to t your specic requirements.

Sampe considerations:

· Provides a broad seection o modues to cater

or current and uture needs.

· Provides fexibe reporting toos, in-buit

tempates, ad-hoc reports and automatedreport distribution aciities.

· Abiity to automate processes.

· Provides customised interace views.

Technology

It is important to ensure you are buying into a orward

ooing technoogy that has a panned roadmap.

Furthermore, ensure the RMIS provider wi continue

to deveop, enhance, and improve the product.


· Abiity to interace/interoperate with

existing systems.

· Operates on preerred operating environment and

hardware, incuding tabets and mobie devices.

· Access contro o data (read, write, deete, copy)

at the e eve by user and user group provided.

· Provides best-quaity data security and hosting,

baced with accreditation.

The RMIS supplier/vendor

Ensure the RMIS suppier has a good trac record

o deivering these types o systems and has a

good credit and nancia rating.


· Insurance and technoogy expertise.

· Consistent nancia position over the ast

three years.

· Years in business and age o product.

· Number o new cients in the ast 24 months.

· Number o system/product deveopers

currenty empoyed by the suppier.

As well as ensuring your preerred RMIS provider speaks your language, you’ll need to assess the usability o the system.

Set out below are some considerations to help you evaluate systems and suppliers.

RMIS seection criteria

26




Implementation

Mae sure the suppier has experience with the

industry that you are in and the type o system set

up and unctionaity you require.


· Impementation oows a standard methodoogy.

· Training in unctiona use and system

administration provided.

· Training provided at: customer site(s) and

suppier site(s).

· Muti-anguage training and training materias

provided, as required.

· location o customer service empoyees

(in reation to cient): same country,

dierent country.

Maintenance & Support

You can expect 24/7 support and you shoud aso

evauate system upgrade entitements. Furthermore,

panned maintenance shoud typicay occur

outside norma business hours.


· Range o ways to contact support, incuding;

teephone, onine porta and emai.

· Teephone service provided: xx hours per day,

x days per wee.

· Guaranteed response times and dened SlAs.

· On-site expertise avaiabe.

Total Cost o Ownership

You need to consider the tota cost o ownership

o the Ris Management Inormation System over

the rst ve years. Focus on user icenses, sotware

maintenance, and impementation services.


· A costs are incuded in the pricing; recurring

annua costs, training costs, upgrade costs,

impementation support costs, customisations

costs, user icenses, training materias etc.

· Pricing structure or oow-up training provided.

· Pricing arrangements avaiabe.

RMIS seection criteria

27




28


Identiy your needs

Research the market

Plan your timeline

Pick your team

Implement your RMIS

Review and evaluate

· Discuss requirements with a your interna staehoders:

the ris management team, IT, procurement, heath andsaety, and senior executives.

· As the RMIS prov iders or hep, or exampe ar rangingworshops with you to review your requirements

in detai.

· Don’t rush. Mae sure a your requirements are actored in.

· Beware o short timescaes – corners may be cut – and

watch out or cost overruns or add-ons, which you canavoid with a xed-price contract.

· A RMIS is not just about technoogy; it’s aso about

peope and reationships. You need the right peope

in pace to mae roout a success.

· Your provider shoud begin with quic wins so your

RMIS deivers vaue quicy.

· They may appear simiar, but not a RMIS are the same –

chec to see they provide what you need.

· Chec to ensure their business credentias wi satisy your

procurement department.

· As to spea to other customers to nd out r sthandabout the provider’s approach and their RMIS reiabiity.

· Mae sure your IT, procurement and executive sponsor are on board or the ong-term.

· Chec what speciaists your provider wi bring to the

team, incuding account and project managers, sotwareand technica expertise and insurance speciaists.

· Your provider shoud run a detaied process o continuous

reviews so you can monitor benets against your kPIs.

· Annua reviews shoud examine potentia utureopportunities and eep you abreast o technoogy advances

and changes in insurance egisation and reguations.

Follow these ‘six steps’ to identiy whether you need a RMIS, what you want it to do, who to buy it rom and how to implement it.

Six steps to purchasing your RMIS



Success Matters

Each o our discipines – saes,proessiona services, IT and account

management – is coordinated and

aigned or the soe purpose o

meeting cient objectives. From the

very beginning, we want your active

engagement to insure your success.

Clarity & Eciency

By transorming ris and insurance datainto actionabe business inteigence,

our cients enjoy unsurpassed carity

and eciency in the decision-maing

process. Aon eSoutions heps you

address ey chaenges and measure and

optimize your tota cost o ris.

Experience

There is no substitute or anexperienced, proven partner. Aon

has been a eading ris management

technoogy provider or 40 years.

Today, we remain as committed as

ever to continuous improvement,

baced with cient eedbac, to ensure

we are providing maret eading

products and services.

When you select Aon eSolutions, you benet rom our proven record o partnering with some 700 clients in 40 countries to meet needs

just like yours. We are experienced in working with clients rom a broad range o industries and sectors. From generating immediate cost

savings to developing a comprehensive risk-data strategy, our ocus goes way beyond system eatures and unctionalities.

Why Aon eSoutions or your RMIS?

29


“Using RiskConsole has

denitely helped to reduce

and manage costs. Not

just on direct costs rom

claims, but allowing the

management o claims to be

more proactive in managing

reserve levels, reporting time

and data input.

” TRANSl INk



We hope you’ve enjoyed this guide and that it helps you as you look to invest in a RMIS.

Although any system purchase and implementation can seem like a challenge, especially when

you’ve also got your normal 9 to 5 tasks to complete, we think that with the right RMIS partner

it will prove a sound investment and orm a critical part o your risk management toolkit.

Given the sheer voume o ris and insurance data you need to coect, manage and anayse,

a RMIS can hep:

· Reduce administrative burden.

· Improve data accuracy.

· Aid decision maing.

· Reduce osses through quicer access to ive data.

· And, ower your Tota Cost o Insurabe Ris (TCOIR).

I you woud ie an inorma chat about how Aon and RisConsoe can hep your organization,

pease contact us or visit www.aon-esolutions.com .

30

A quic recap...




EMEA

Steve Cloutman

Managing Director

+44 (0)207 882 0974

[email protected]

31

Contact detais or Aon eSoutions


APAC

Australia

Justin Gale

Nationa Saes Manager +61 2 9253 7436

[email protected]

Asia

Eric A. Schaap

Regiona Practice leader

+65 62 398 872

[email protected]

Americas

Monte Dalton

Vice President Saes (US & Canada)

+1 925 242 4635

[email protected]

Peter Govek

Vice President North Amer ican Saes

+1 920 451 9777

[email protected]



aon-esolutions.com/contacts

the-definitive-guide-to-rmis.pdf

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