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Pentair: Taking Risk Management to New Heights

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rekta iz, nura post- post morga sub ti. Kun rekta iz, nura postpos tmorga sub ti. Kun meze » pentair 16 | 360º Aon eSolutions case study are for real hazard forecasting purposes; more consistently track where we were in earthquake zones/flood/named storm areas; and more reliable data for business interruption calculations. We can now collect all this data in one source with the ability to export it at one time using one currency conversion. It's a phenomenal tool for when we go out to market for renewal. Our real estate department also uses RiskConsole to track our locations – including square footage and lease expirations – in an easy format. This date enables us to better manage our real estate portfolio. For example, we have greater visibility to lease expirations so we can begin to identify actions and options earlier in the process. RiskConsole has also significantly improved our visibility of vendor sites. Today, we have 75% of our vendor sites' data entered into the system to help our sourcing team identify where we have aggregated risk. RiskConsole has given us visibility that we did not have before. All of sudden we kept seeing the same names pop up all the time and now we have the data to identify our vendors throughout the globe. That can give us better leverage with price. We've also been able to apply RiskConsole in our casualty renewal process. This was something that was configured from scratch pulling together elements from different d i ca p r i o When I started at Pentair seven years ago we were collecting data on spreadsheets. They would be sent to our various divisions for updates, which meant a significant investment in man-power. Also, since data was manually entered, we invariably encountered errors; it really wasn't a very good process. So we started building our own internal databases to track and collect some of the data. However, we ran into issues with our internal database during acquisitions because non-Pentair employees couldn't access the system. We quickly understood that we needed an alternative solution, so we started to investigate the use of a risk management information system (RMIS) that could not only collect our claims data but also do more of our casualty and property renewal data collection. We needed a flexible solution that could grow with us. Ideally, we needed a web-based solution so that our teams in different locations could access and maintain the same information. After a review of several RMIS solutions, we selected RiskConsole. Its flexibility was underscored during the implementation process. The RiskConsole account team was onsite for a couple of days with our users and, with direct feedback, was able to configure the application to meet our precise needs. We have been impressed by the ways that RiskConsole has helped to improve our processes and given us visibility of data that we never had before. For example, in addition to bringing in and consolidating claims data, we knew we could bring in risk data from all areas of the company which would better prepare us for instituting enterprise risk management. We've had some key successes already. From a property perspective, RiskConsole enables us to immediately improve our understanding of where our locations pentair's technical products division is a leader in designing and manufacturing thermal management products and standard, modified, and custom enclosures that house and protect sensitive electronics and electrical components. pentair's corporate risk manager, tom gratz, talks about how aon riskconsole has become embedded in their risk management process. »

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