Ventiv Technology

Please contact Kevin Newlin on + 1 678 784 4642 or email kevin.newlin@aon.com for more information by some 80 colleagues at locations worldwide, Paech manually compared new information to that of the previous year before sending to underwriters. Today, Paech's local contacts log in to RiskConsole and update their property information directly in the system, which collects data in a single source and enables Paech to work with a single, continuously updated file throughout the submission and renewal process. Once each location's records are marked complete, RiskConsole generates a statement of values report for review and submission to underwriters. e report also forms the basis for premium allocations. e property module has delivered real value in terms of accuracy and administrative efficiency. Automating the property process has also given Paech the time to focus on tasks likely to generate even more cost savings. Last year, she was able to focus on internal risk management issues in lieu of renewal data collection. In terms of return on investment, Rifenburg concludes, "e property module has helped us contain premiums by improving the accuracy and comprehensiveness of the information we submit to underwriters. Underwriters rarely come back to us with additional questions, and by building depth in our historical property information, we're putting underwriters in a much better position to evaluate risk properly." Just as important in terms of ROI, Rifenburg continues, is the ability to instantly generate reliable information on every property's value and potential for loss control improvements: "When the company is considering further investment in a particular location, for instance, management needs to know the value and details of that property. With the property module, I can produce accurate valuations as well as fact-based, specific recommendations for mitigating risks to the property." ANDRITZ is considering further leveraging the value of RiskConsole by deploying additional advanced functionalities related to premium allocations (now a manual process). In addition to new administrative efficiencies, local managers and controllers would then have almost instant access to a complete picture of their premium allocations. Accurate and comprehensive data— and easy access to that information—is the key to ANDRITZ's confidence that its property risk evaluation is based on accurate and easily accessible data. to evaluate risk properly. underwriters rarely come Back to us with additional questions, and By Building depth in our historical property information, we're putting underwriters in a CO-DIRECTOR OF INSURANCE MONICA RIFENBURG (RIGHT) AND LEGAL AND INSURANCE ASSISTANT STEFANIE PAECH (LEFT) OF THE ANDRITZ GROUP

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