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Executive Summary The 2012 Global Risk Technology Survey (GRTS) was conducted in July and August of 2011. This is the second global survey conducted by Aon that examines the use of risk technologies within organizations of varying size, location and industry. Similar to the first GRTS survey, which was conducted in 2009, this survey was designed to reveal the ways in which global organizations select, implement and manage their risk technologies or risk management information systems (RMIS). The survey also seeks to reveal the key benefits that organizations gain from those technologies. The GRTS report analyzes and outlines the survey findings and provides an overview of the continuing trend of using technology to manage risk. An important aspect of the GRTS report is the top ten benefits list. This year, respondents ranked "accuracy and reliability of data" as the most important benefit of risk technology, which indicates that organizations use their RMIS to manage business operations and generate accurate financial information. "Automation of processes" was the second-most-important benefit named by survey participants, followed by "data consolidation and management"; these two rankings indicate that RMIS are used to streamline business processes and collate multiple-source data into one location for consistent and reliable reporting. "Management reporting improvement", ranked fourth, points to the importance of tools to the management team and the need to ensure efficiency and accuracy of information for senior-level communication. Surprisingly, the following three benefits were not in the top ten list in this year's survey: Claims Management Historically, claims management has been the primary rationale for implementing risk technology; however, today a RMIS is used to manage much more than workers' compensation claims reporting. Technologies such as claims platforms have enhanced reporting features, and risk technologies are fast becoming a global product for many organizations. Since "ease of access to data from one location" was ranked sixth in the top ten list in the 2012 GRTS, it seems that claims should also have been listed. Compliance While compliance is a relatively new topic in the risk management industry, more companies are beginning to explore cloud offerings to store and report on their organizational data. Given this development, compliance may well make an appearance in the top ten in our next survey. Control and Transparency This benefit was among the top ten in 2009, but it dropped out in the 2012 survey. This is perhaps due to risk management departments becoming more visible to boards of directors and CFOs, who are looking to these departments to inform and guide the organization in all aspects of risk. In the continuing economic downturn, one of the most important elements to consider when implementing a RMIS is return on investment. When this year's survey participants were asked how quickly they expected to see a return on their RMIS investment, almost half—47.5 percent—indicated they expect results within two years. Clearly, it is important for organizations to understand and identify value associated with spending. Being able to quantify ROI related to a RMIS investment is an essential aspect of an organization's ability to use technology to support its enterprise-wide risk management program. Global Risk Technology Survey 2012 Aon Risk Solutions | Aon eSolutions 5