THE DEFINITIVE GUIDE TO A RISK MANAGEMENT INFORMATION SYSTEM 29
ROI IN FOCUS
As well as the key benefits listed on pages 4 and 5, to ensure projects get off the ground, any system investment must demonstrate cost savings.
Based on industry standards, Aon's and Ventiv's research
and other sources, an RMIS can provide potential savings on
insurable risk expenditure in three main areas:
• Risk Transfer Cost
• Risk Management Cost
• Retained Risk Cost
Total estimated annual saving of 4–9% of an organization's Total Cost of Insurable Risk (TCOR)
Organization's Total Cost of
Insurable Risk (TCOR)
63%
Risk Transfer
Cost
20%
Risk Management
Cost
17%
Retained Risk
Cost
Delivering a potential
saving of 3–8%
Delivering a potential
saving of 10–15%
Delivering a potential
saving of 5–10%
