Risk management and insurance-buying practices often rely on paper-based systems existing in different parts of an organisation. Such systems, however, have many drawbacks.

Through the use of innovative software, Risk Management Information Systems can centralise information and help organisations become far more efficient in their risk management processes.

They can offer a solution adapted to the needs of an organisation - configured, customised, and integrated with business routines, best practices, industry requirements and data sources.

Critical questions you need to consider include:

• Do you have a need to centralise information so that decision-makers can evaluate data more effectively? Are multiple systems performing different tasks - claims, property management, human resources, health and safety and risk management?

• Do you need to cross-reference data and make useful correlations between different data sets?

• Do you need to report risk-related information to external stakeholders but find that it is not consolidated or centralised?

• Do you need different people in your organisation to easily input data?

• Are you aware of the immediate savings that can be made by getting rid of paper-based systems?

• Do you track incidents?

• Do you need information to highlight risk improvements to assist premium negotiations at renewal?