What is RMIS?
Risk Management Information Systems (RMIS) are typically computerized systems that assist in consolidating property
values, claims, policy, and exposure information and provide the tracking and management reporting capabilities to
enable you to monitor and control your overall cost of risk... everything you need to know about this software
(for the purposes of the website) can be found at Wikipedia.
Why do you need RMIS?
Basically you need the software to keep track of your level of exposure related to insurance policy claims,
coverage, etc. There is some degree of predictive analytics, as in you can track you workers’ comp claims
and determine that you need new ladders or warning signs. Typically, RMIS facilitates the consolidation of
insurance related information, such as claims from multiple sources, property values, policy information,
and exposure information, into one system. Often, Risk Management Information Services/Systems (RMIS) applies
primarily to "casualty" claims/loss data systems. Such casualty coverages include Auto Liability, Auto Physical
Damage, Workers' Compensation, General Liability and Products Liability.
RMIS products are designed to provide their insured organizations and their brokers with basic policy and claim
information via electronic access, and most recently, via the Internet. This information is essential for managing
individual claims, identifying trends, marketing an insurance program, loss forecasting, actuarial studies and
internal loss data communication within a client organization. They may also provide the tracking and management
reporting capabilities to enable one to monitor and control overall cost of risk in an efficient and cost-effective manner.
In the context of the acronym RMIS, the word “risk” pertains to an insured or self-insured organization.
Why you need eRIMS as your RMIS solution:
ESS offers customized enterprise information management for all your risk management needs. eRIMS2 is secure,
web-based risk management software that provides an efficient and accessible platform for risk management
activities that allows organizations with multiple locations to communicate and manage risk effectively. |
