The definitive guide to commercial insurance renewal
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Five key areas to consider when evaluating a RMIS for renewal
Here are some of the key considerations when choosing a RMIS for renewal:
General considerations
•
Are renewal questionnaires easy to access and complete using
conventional PCs and tablets?
• Does the system support multi currencies and languages?
• Does the system clearly display prior year's values?
• Is the system easy to administer, eg drag and drop functionality,
password resets and user set up.
• Does the system offer workflows to automate processes?
• Does the system automatically check data against pre-defined
business rules?
• Are there standard renewal questionnaire templates that can be easily
adapted?
•
What is the current version of the system and how much is invested in
R&D?
Questionnaire design
•
Can questionnaires be set up to guide different users through
different question flows?
• Can tool tips and training information be added to the
questionnaire?
•
Can questionnaires be created in the way you'd like and for your
specific needs, through self-service tools, templates and vendor
services?
•
Can labels be edited so that non-insurance terminology can be
used?
Report production
•
Does the system have in-built reporting tools?
• What specific reports come as standard?
• Can the business units/divisional heads produce their own reports?
• Are the reporting tools easy to get to grips with and use?
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