Advisen Announces Advisen RMSolutions™ to Help Insurance Buyers Reduce Total Cost of Risk

NEW YORK--(BUSINESS WIRE)-- To fill the gap left by today’s RMIS and broker systems, Advisen has launched Advisen RMSolutions™, a suite of automation software and data content applications for Risk Managers. Advisen RMSolutions™ reduces the total cost of risk within an organization through an innovative set of tools to support executive level reporting, collaboration with brokers and other partners, internal resource coordination, and self underwriting analytics.

Advisen’s Risk Management business unit, led by industry veteran Aaron Shapiro, has collaborated with risk management clients to devise Advisen RMSolutions™. Expanding upon a foundation of benchmarking and analysis tools already in place, Advisen RMSolutions™ delivers content and workflow tools to reduce workers’ comp expenses, create executive level reports, streamline the submission process, and support the risk analysis of third party organizations.

“Risk managers need to deliver compelling insight to executives and board members regarding their organizations’ risk portfolio and the financial implications of their combined risk transfer, risk retention and risk mitigation program,” noted Aaron Shapiro. “However, gaps in collaboration, data access and automation tools, often prevent risk management departments from achieving their objectives. Advisen RMSolutions™ closes those gaps.”

In discussions with risk managers, Advisen also uncovered a need for information about companies other than the risk manager’s own firm. “We observed an increased interest in data to analyze the risk profile of the third party organizations in the supply chain or the risk profile of potential acquisition targets,” explained Aaron Shapiro. “Advisen RMSolutions™ delivers the content and automation necessary to achieve these goals and more.”

Phil Norton, Vice Chairman, Midwest Region of Arthur J. Gallagher & Co. said, “Advisen’s automated submission tools transfer our efforts from data collection to a focus on crafting the best renewal strategy.” He added, “It allows our experts to spend more time on custom analysis, collaborating with our clients and guiding underwriters toward the best outcome.”

Gary Fortman of A&P - Great Atlantic & Pacific Tea Company commented, “We were able to reduce our workers’ compensation costs dramatically using the Worker’s Compensation ToolKit™ to improve practices throughout the organization.”

Advisen RMSolutions™ combines Advisen’s strengths of benchmarking, claims databases, and company analytics with a new library of workflow templates in order to deliver an ideal platform for risk managers to collaborate with key partners such as brokers, TPAs and consultants. Advisen RMSolutions™ elevates Risk Management’s impact within the organization by delivering insightful reports for executives and board members, collaboration tools to enhance the quality of submissions, and deep dive data to assess the risk profiles of acquisition targets and suppliers. Advisen’s Worker’s Compensation ToolKit™ delivers content and workflow tools to reduce workers’ compensation costs. Topical Research helps risk managers find risk management resources and news.

About Advisen

Advisen’s data, analytics and news offerings are game-changers for 100,000 commercial P&C professionals. For Underwriters, Reinsurers, Brokers and Risk Managers, the resources of Advisen provide productivity and insight into underwriting, marketing, broking and purchasing commercial insurance. Configurable applications allow Advisen to customize each solution and/or craft special offline delivery, too. Our result is a measurable increase in your book of business and more favorable insurance transactions. Visit us at http://www.advisen.com or contact [email protected] to learn more.

Advisen
Aaron Shapiro, Director of Risk Management Services, +1-212-897-4796
[email protected]

Source: Advisen