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
 

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