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2022 RMIS Report

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2022 RMIS REPORT Technology plays a central role in managing risk effectively in this environment. Our research indicates that 84% of organizations are expected to increase spending on risk management technology in 2022 — by an average of 8% increase year-over year. RMIS have been the primary tool in the risk management space for decades. Over the years, we have seen the scope of what is considered RMIS functionality grow as well. What started primarily as claims management tools have grown into much broader enterprise risk solutions that address areas such as Environmental Health & Safety (EH&S), and Governance, Risk and Compliance (GRC), to name a few. In recent years, we have seen a significant increase in the number of RiskTech solutions in the marketplace. As InsurTech has grown and disrupted the broader insurance market over the past few years, it was inevitable that a more focused effort would be placed on managing risk and supporting risk professionals. Our goal for the RMIS Report is to identify solutions to assist risk professionals in managing risk, whether more traditional RMIS solutions or broader RiskTech offerings. We are excited to include more RiskTech solutions in our report every year. Welcome to the 2022 RMIS Report. The past few years have brought unprecedented change in the way businesses operate and the risks they must navigate in these uncertain times. We are also living in a world where technology and innovation are increasing more rapidly than ever.. 2 ©2022 Redhand Advisors. All rights reserved.

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