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In 2009, The Global Risk Technology Survey indicated that 78.6 percent of respondents viewed the economy and the organization's budget as key components that would shape future use of risk technology. In the same study, however, almost half of all respondents had not quantified how quickly they expected to see a return on their RMIS investment. In 2012, when respondents were asked how quickly they expected to see a return on risk technology tools, 47.5 percent of respondents indicated they predicted results in two years' time, up from 43.1 percent of respondents who gave that timeframe in 2009. However, similar to the 2009 study, almost half had no specified timetable. In 2009, almost 60 percent of organizations surveyed said they could not estimate their overall savings from a RMIS. In 2012, that number dropped significantly, to 34.5 percent, while 49.5 percent said that they expected savings of up to $500,000. In the current economic environment, the pressure to understand and identify value associated with spending is significant. 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. Given all of the elements that constitute total cost of risk (TCOR), it is easy to identify various areas of RMIS impact. During the RMIS search and evaluation process, an organization must identify the business areas that will be shaped by risk technology, and then track those areas after the system is in use. Being able to quantify ROI related to a RMIS investment is an essential aspect of organization's ability to use technology to support its enterprise-wide risk management program. Overall Savings from Risk/Insurance & Claims Technology Time Expected to See Return on Investment $51,000 – $150,000 None yet as we have only just started to use them $0 – $50,000 $151,000 – $250,000 Not sure % 10.0 34.5 16.6 25.7 $501,000 – $1,000,000 2.8 4.4 $251,000 – $500,000 2.8 3.2 Over $1,000,000 2 Years 18 Months Over 2 Years Not Quantified 1 Year % 9.4 13.6 7.2 14.5 12.2 47.4 6 Months Global Risk Technology Survey 2012 Aon Risk Solutions | Aon eSolutions 29