Ventiv Resource Library
Issue link: https://ventiv.uberflip.com/i/459082
i Risk/insurance managers want to be able to consolidate data from other channels and internal systems. For example, they may want to import employee data from payroll systems or fleet information from vehicle databases. Rather than having to re-key this information, most RMIS vendors will be able to offer integration options that will automatically upload the data. Furthermore, a RMIS should offer a number of additional methods for collecting data, these include: • Keyed entry • Self-service imports and/or updates from spreadsheets, and • Bespoke data loads Achieving time savings is another challenge facing risk/insurance professionals during renewals. From workflows that automate processes to existing questionnaire templates, a RMIS can save you considerable time in the following areas: • Creating the renewal questionnaire: A RMIS will come with a standard questionnaire template. You will also have the ability to quickly update your questionnaire and add in instructions and help files. • Distributing questionnaires: Rather than having to send emails to different business units, workflows can be set up that automatically notify users about the renewal questionnaire and send reminders. • Checking data: Business rules can be set up to automatically check data for variances. Any potential errors will be notified to the user and risk/insurance teams. • Tracking questionnaire statuses: Dashboards within the RMIS will show which business units have completed, partially completed or yet to start completing their renewal questionnaires. • Automatic formatting: To prevent formatting inconsistencies, for example three digits missing from values, a RMIS will automatically control the field settings. • Producing charts and reports: Standard, interactive charts and reports will be provided within the RMIS that can be produced at the click of a button, and allow for easy manipulation of your renewal data. OPTIMIZING THE RENEWAL PROCESS WITH TECHNOLOGY 10 INTEGRATING DATA INTO ONE CENTRAL SYSTEM SAVING TIME