When clients are actively engaged with their carrier, the organization gains the opportunity to provide higher value services that can help clients make strategic decisions and drive down costs. Paper-based and labor-intensive processes, legacy systems that struggle with modern requirements, and data siloed in disparate, unconnected applications all run counter to this effort. Origami Risk, however, provides several features that allow carriers to fully engage with their clients and deliver actionable, strategic data that can impact clients’ bottom line.
Meeting the Modern Demands of Today’s Client
In our recent Trends That Will Shape 2018 post, we highlighted how the increasing demand for 24/7 access to information and self-service is expanding from the consumer market into all types of organizations. For insureds and agents, this translates into a desire for greater access to critical data, and to have it customized to fit with the way they want to work with it. …
The competitive pressures facing brokers are unrelenting. In Zywave’s 2017 Broker Services Survey, conducted last summer with over 600 respondents, the results paint a stark picture of the competitive marketplace. Nearly 1 in 5 respondents changed brokers over the past three years. Approximately 70% indicate they would abandon their current broker for communication or service related issues. In fact, the top three stated reasons that would make respondents leave a broker were all communication related. In contrast, leaving for a broker who can lower premiums ranked a distant 6th place. Today’s broker has to compete on communication, or suffer the defection of clients to those who do.
This is the third part of a three-part series that we hope will prove helpful in the RMIS selection process. Part 1 explained how moving from spreadsheets to RMIS can be beneficial and included some suggestions for determining if the switch to a RMIS might be warranted. Part 2 provided tips on researching vendors, suggestions for including stakeholders in the buying process, and thoughts on the potential for a new RMIS to solve issues that commonly exist between risk management and other departments.
You’ve put in the research, evaluated RFPs, and interviewed vendors. After viewing demos and getting answers to questions, you’ve learned more about what makes each vendor’s technology and service unique. It seems that you’re finally closing in on selecting the RMIS that best fits the needs of your organization.
There is, of course, a lot of ground to be covered between now and the point at which the work of putting your system in place is begun. Yet it’s likely—based on first-hand experience or “horror stories” you’ve heard along the way—that you have your fair share of concerns related to implementation.
System implementation marks the transition from the known—however imperfect—to the unknown. Even the promise of moving to a RMIS that significantly improves the organization’s ability to manage risk, insurance, and claims data is not likely to make the change completely seamless. This is where selecting the right partner can make all the difference.