Ventiv Resource Library
Issue link: https://ventiv.uberflip.com/i/273961
At the highest level, purchasing insurance or accepting the transfer of risk from members is the pool administrator's chief responsibility. RiskConsole can help administrators with this and other important tasks, including: 1. Soliciting and onboarding new members: For those pools actively soliciting new members or wishing to do so, RiskConsole streamlines and standardizes the onboarding of new members. 2. Reporting to the board and to trustees: RiskConsole's class-leading business intelligence reporting capabilities empower administrators to enhance reporting, including loss-fund ratio reports and plan-year analyses, while making the process more efficient. 3. Allocating premiums: RiskConsole can process the allocation, generate invoices and create a feed to pass to the pool's general ledger system. 4. Engaging with excess markets: RiskConsole improves the quality of data communicated to the excess markets during the submission process. 5. Requesting of certificates: RiskConsole can facilitate member requests for certificates of coverage (out-going certificates). RiskConsole can also monitor incoming certificates. 6. Reporting and monitoring claims: For pools actively involved in monitoring claims and working directly with TPAs, RiskConsole helps pool administrators track claim financials. 7. Directing loss-control initiatives: RiskConsole can help pool administrators who directly promote safety and loss-control initiatives, including financially incentivizing member participation. Administrators: HOW RISKCONSOLE CAN HELP