Risk Management Data Collection
Data collection can be a complex and time-consuming process; time can be saved by
avoiding re-entering data from manual questionnaires to spreadsheet preparation.
Data collection and accuracy can be an “audited” item. Our IA Risk Manager
allows for the integrity of data and validation of collection procedures that is
particularly useful in the insurance industry. In addition, speed of analysis can
be vital and easy lookup on a system makes the servicing of internal clients more
cost-efficient.
IA Risk Manager
- A central database application designed to provide companies
with the ability to report exposure related data in a secured web-based environment
- Replaces a paper based Excel collection process that is
laborious and prone to input error
- The values reported by internal clients are the values
used in the underwriting and forecasting processes, eliminating any concerns regarding
manual manipulation
- Department members are enabled to spend more time reviewing
the risks as opposed to compiling data
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Risk Management Limitations
- Lack of exposure to data with no secure environment available
- Data entry errors and inefficient use of time with manual
entry
- Human error concerns
- Time spent compiling data with little time left to properly
review information collected
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