Ventiv Technology

360º | Aon eSolutions 1 7 Almond explains: "What's made my life simpler is RiskConsole's ability to aggregate data from various sources into one place. Data from our partners is automatically uploaded into RiskConsole overnight and placed alongside the data from our internal team to give us the complete view of our claims book." Tesco also uses RiskConsole to performance manage their legal suppliers. The company can compare performance between the two providers and by benchmarking against the market in general. A consequence of this has been that Tesco is in an excellent position to reduce the legal costs through new reforms that have come into effect in the UK. Through RiskConsole, Tesco is being more proactive with their actuaries. Almond explains: "Previously we'd simply send the actuaries a spreadsheet of our claims data and accept the provisions they calculated. Now we do far more, and actively look to educate the actuaries on our claims situation, which has resulted in more accurate provisions." HELPING IMPROVE SAFETY "RiskConsole has enabled us to change the way we work, and gives us a competitive advantage by significantly improving customer and staff safety and reducing the number of accidents at our stores." "Through the detailed information in RiskConsole, Tesco can very clearly demonstrate we have as much control as an insured can have over our claims, and we can show how we're actively reducing the average cost of claims. This enables us to keep our indemnity spend down and set our deductible, captive and external insurance layers at the optimum levels," says Almond. Based on his experience with RiskConsole, Almond offers some advice for other risk managers seeking to implement a RMIS. "Firstly, I'd make sure you have full executive support. Secondly, I would advise you to get the best possible understanding you can of your current data. How it is now and where you'd like it to go in the future. Then finally, spend as much time as you can ensuring how you're going to hold your data within a system is clear, relevant and avoids duplication," says Almond. "Aon eSolutions have helped guide us through this process. As a result we can easily conduct the analysis we want, target loss prevention initiatives and deliver substantial business results." FUTURE GOALS Now that Tesco has the control it wants over its personal injury claims data, they're working with Aon to bring the same control to their property and motor portfolios. Almond adds: "Being able to drill into motor and property claims and implement innovative programmes and protocols will undoubtedly have a big impact for Tesco. We're now bringing on the property portfolio and also centralising our motor portfolio onto RiskConsole as well." RISKCONSOLE HAS ENABLED US TO CHANGE THE WAY WE WORK, AND GIVES US A COMPETITIVE ADVANTAGE BY SIGNIFICANTLY IMPROVING CUSTOMER AND STAFF SAFETY AND REDUCING THE NUMBER OF ACCIDENTS AT OUR STORES. " "

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