THE DEFINITIVE GUIDE TO A RISK MANAGEMENT INFORMATION SYSTEM 17
What it does:
Provides a consistent, automated methodology to calculate, allocate
and monitor premiums across business units based on claims severity,
likelihood, impact and risk mitigation measures.
Benefits:
• Enables you to allocate premiums based on pre-defined criteria per line
of business, including bonus-malus allocations.
• Allows for premium calculation including tax tracking.
• Transparency and compliance due to data being available for
previous allocations.
• Allows you to review previous years' activities as part of your premium
allocation process.
• Allows for 'what-if' scenarios so you can communicate potential premium
reductions based on performance.
PREMIUM ALLOCATION AND CALCULATION
What it does:
Provides a central repository for collecting, validating and cross-
examining all your organization's value collections, making you ready for
your annual renewal process and market submission.
Benefits:
• Time savings generated from automating questionnaire distribution
and follow-up, and data validation and consolidation.
• More comprehensive and accurate data values through dynamic
questionnaires, input options and context setting and tooltips.
• Collects data into one secure system that is available online anywhere
and anytime.
• Enables more time to be spent on high-value activities.
RENEWAL DATA COLLECTION
