2015 RMIS Review - The Provider Assessment - Advisen
DAVE TWEEDY 2015 RMIS REVIEW PUBLISHED BY Provider Assessment VERSION ONE SPONSORED BY 2015 RMIS REVIEW THANK YOU TO OUR SPONSORS PLATINUM SPONSORS GOLD SPONSORS SILVER SPONSORS 2 April 2015 | www.advisenltd.com 2015 RMIS REVIEW TABLE OF CONTENTS 2015 Letter from Dave Tweedy....................................................................................... 7 List of Bundled/Unbundled Providers ............................................................................. 11 Publisher’s Note............................................................................................................... 15 Dave Tweedy’s Comparison & Evaluation........................................................................ 19 Bundled Industry Discussion............................................................................................ 21 Unbundled Industry Discussion........................................................................................ 25 Claims Administration - Oriented Systems ...................................................................... 27 Rumor Mill and Recent News Discussion......................................................................... 30 RMIS Review Questionnaire Transparency....................................................................... 33 Minimum RMIS Standards................................................................................................ 38 Summary Ranking for Bundled Providers......................................................................... 40 Summary Ranking for Unbundled Providers.................................................................... 42 Technology vs. Functionality ........................................................................................... 44 Bundled Systems............................................................................................................. 46 Unbundled Systems......................................................................................................... 57 Glossary........................................................................................................................... 74 About .............................................................................................................................. 76 Copyright © 2015 Advisen Ltd. All rights reserved. No component or derivative of this RMIS Review material, in whole or in part, may be reproduced, repurposed, or redistributed without prior permission from [email protected] 3 April 2015 | www.advisenltd.com ® NS. TATIO C E P X E Y G NOLO K TECH RIS RAISE YOUR FREE YOURSELF Industry leaders agree. Riskonnect is going beyond expectations, leaving behind other RMIS vendors with their limited systems. You need a risk management work platform that can handle today’s needs and tomorrow’s growing business demands. Let Riskonnect take your risk management program to new heights. Be a superhero for your organisation. It’s time to Go Beyond. GO BEYOND. RISK MANAGEMENT WORK PLATFORM RMIS GRC EHS HEALTHCARE 770-790-4700 www.riskonnect.com ® S E S S E C C U S T N E I CL IMPROVED DATA QUALITY RESULTS IN Eliminated “The feedback from our users has been overwhelmingly positive.” legacy carrier system access fees 2 TO 4% REDUCTION ~ VP, Risk Management Global Retailer “Riskonnect is very powerful, very customizable and very flexible. It gave us the freedom to do what we needed it to do.” ~ Manager, Corporate Insurance Global Airline Company “We aren’t stuck in a cookie cutter type of environment.” 50% reduction IN PREMIUMS in claim costs global shipping and energy company ~ Senior Analyst, Risk Management Worldwide Manufacturer “With Riskonnect, there is just more time to focus, and you can spend more time on the analytics as opposed to the data gathering.” ~ Director of Insurance Services, Client, National Food Company 93% increased efficiency in processing payment of bills GO BEYOND. 67% efficiency improvement in interational exposure data gathering AUTOMATED 200,000 EMAILS PER MONTH FORTUNE 500 GLOBAL RETAIL COMPANY 82% improvement in processing high dollar payments RISK MANAGEMENT WORK PLATFORM RMIS | GRC | EHS | HEALTHCARE 770-790-4700 www.riskonnect.com ® ATIONS. T C E P X E Y CHNOLOG ISK TE R RAISE YOUR TAKE YOUR RISK MANAGEMENT PROGRAM TO NEW HEIGHTS. Industry leaders agree. Riskonnect is going beyond expectations, leaving behind other RMIS vendors with their limited systems. You need a risk management work platform that can handle today’s needs and tomorrow’s growing business demands. Let Riskonnect take your risk management program to new heights. Be a superhero for your organisation. It’s time to Go Beyond. GO BEYOND. RISK MANAGEMENT WORK PLATFORM RMIS GRC EHS HEALTHCARE 770-790-4700 www.riskonnect.com 2015 RMIS REVIEW 2015 LETTER FROM DAVE TWEEDY I want to thank both Bickmore, my employer, and Advisen, my editor and publisher for their continued support in the production of RMIS Review, 2015 Version. I also want to thank each vendor for cooperating with us by filling out and submitting their surveys and answering questions. Without their cooperation, this survey would not exist. They represent the best of the best. Lastly, I want to thank my colleague, Paul Cross, who served as my editor, critic, chart designer and sounding board as we put this e-book together. As with past editions, this Review is meant to be a guide to those who are seeking to buy, upgrade, change or otherwise study this unique sub-industry. The ratings are mostly based on what the vendors supplied in their questionnaire. Of course, we perform due diligence within the industry to confirm any questions. We also reserve the right to add our 2 cents worth. The Review is modeled after Consumers Report with some Gartner and Celent thrown in for good measure. It is not foolproof. We recognize that not all vendors will be happy. However, we strive to be as objective as possible in providing nothing but the facts and my honest opinion based on over 35 years in the RMIS marketplace. I do not have “a dog in this hunt”. I want to help my clients and clients-to-be. After all, selecting a RMIS is not the easiest or cheapest thing to do. We at RMIS Review are always looking to improve. We would like more vendors to become a part of it in the future. We invite readers (vendors and system users alike) to write and make suggestions on how to improve the content. Next year (2016) we will provide a new and updated Users’ Feedback version. We will be changing and hopefully improving the questionnaire to give readers and vendors alike more information on how they are perceived. We appreciate the opportunity of presenting this year’s edition of RMIS Review to you all. We trust you find its contents helpful. Dave Tweedy CMC, RMIS Director Bickmore 7 April 2015 | www.advisenltd.com Don’t just predict the future... change it. Predictive Analytics | Business Intelligence | Benchmarking RSG ESPSM by Risk Sciences Group® is the latest revolutionary set of tools that enables you to take preemptive action and ultimately change outcomes before it’s too late. With newly enhanced benchmarking capabilities, RSG ESP now delivers self-service insights into claims data to help proactively address potential issues that may arise in your claims program. Powerful Self-Service Benchmarking Enhanced Features • Benchmark claims experience against your industry segments using key claim metrics • Access an extensive benchmark database from a variety of current and historical data sources • Gain valuable data, updated quarterly Proactively address potential issues that may arise in your claim program with RSG ESP. Call 800-619-0224 or email [email protected] SM World Headquarters 1001 Summit Boulevard Atlanta, GA 30319 risksciencesgroup.com | EOE Risk Sciences Group ® Leading technology, expanding capabilities and optimizing outcomes As a global RMIS provider, RSG® has the tools and talent to make your job easier and help drive your spend intelligently. We deliver accuracy, responsiveness and freedom through our integrated suite of products and services. Choose the risk management information solution ideal for your business • DMITRI® 8.0: our latest generation RMIS with enhanced functionality and a more user-friendly look and feel • RSG ESP : our revolutionary set of tools that includes innovative benchmarking capabilities, robust business intelligence and predictive analytics SM • Disability and Leave Management Solutions (STD/LTD and FMLA) Discover a risk management strategy designed with your needs in mind. Call 800-619-0224 or email [email protected] World Headquarters 1001 Summit Boulevard Atlanta, GA 30319 risksciencesgroup.com | EOE Meet DMITRI 8.0 Simply Powerful Risk Sciences Group® introduces the next generation of DMITRI—where simplicity meets power. Our most intuitive RMIS ever boasts all the features DMITRI users have come to rely on with an improved look and feel and enhanced functionality. Access the data you need quickly and accurately, enjoy expert account support and so much more! New to DMITRI 8.0 • Intelligent interface delivers information when you need it, where you need it • Clean, collapsible format displays more data on screen with less scrolling • Upgraded navigation and search capabilities dramatically improve functionality • Enhanced short cut bar with easy access to favorites, history and adding new data Put the power of RSG’s forward-thinking RMIS to work for you with DMITRI 8.0. Call 800-619-0224 or email [email protected] World Headquarters 1001 Summit Boulevard Atlanta, GA 30319 risksciencesgroup.com | EOE 2015 RMIS REVIEW LIST OF BUNDLED PROVIDERS: LIST OF UNBUNDLED PROVIDERS: • AIG • APP Technologies • Broadspire (Risk Sciences Group) • Marsh ClearSight • CNA • Computer Sciences Corporation • ESIS • DAVID Corporation • Gallagher Bassett • EBIX, Inc. • Liberty Mutual • Effisoft • Sedgwick • INFORM Applications • Travelers • JDi Data • York • Mountain View Software • Origami Risk, LLC • PCIS • Risk Sciences Group • Riskonnect • Solartis • Systema Software • Ventiv Technologies 11 April 2015 | www.advisenltd.com Risk Claims Policy YOU’RE NOT STUCK. You don’t have to be stuck with old technology and poor customer service. Use NAVRISK ®, our new high performance cloud-based Risk, Claims and Policy Management system. We’ll make it easy – sign up by September 30th and we’ll convert your data for FREE. Let’s get you up and running the way you deserve to be. We’ve been helping industry leaders like you for more than 30 years. We’ll get you moving faster and happier. HIGH PERFORMANCE QUALITY SERVICE PROVEN RESULTS 1.800.55.DAVID 1.978.729.7539 www.davidcorp.com Boston | Livonia | San Francisco Risk Claims Policy We’ve created a higher standard in customer service. For thirty years, industry leaders have counted on us for high quality service, the most-up-to date technology and extraordinary support for all our NAVRISK® products. Our client response time for Claims and Risk Management service is 3x faster than the industry average and our new support tools offer clients a well-managed experience. Our customer service is also fully US-based to give you the best service and best results. HIGH PERFORMANCE QUALITY SERVICE PROVEN RESULTS 1.800.55.DAVID 1.978.729.7539 www.davidcorp.com Boston | Livonia | San Francisco 2015 RMIS REVIEW PUBLISHER’S NOTE Advisen is proud to once again publish this year’s RMIS Review. Under the watchful eye of Dave Tweedy, this year’s RMIS Review - like our 2013 effort – is based upon an extensive RMIS Provider questionnaire. Our plan is to conduct this analysis for publication every two years. On even years, such as next year’s 2016 edition, we will conduct our RMIS User Survey and report on user views and sentiments. However, like previous years, our annual goal is to produce a quintessential document that is a “must read” for RMIS users & future RMIS users as well as RMIS providers. As more insureds discover the virtues of a RMIS compared to their excel spreadsheet, and as the complexities confronting the Risk Management departments around the world increase, the RMIS Review is one of very few independent sources of information in this competitive vendor arena. You are one of over 2,500 readers who will download and review this document. Your inclination to learn as much as you can about the current state of RMIS offerings and the differences among RMIS platforms also makes this effort highly relevant for our 13 sponsors. This publication has become the definitive information authority on the subject of RMIS. Participation Also like prior years, we have encouraged as many RMIS providers as possible to participate. This 2015 edition features responses from 25 RMIS providers - 9 bundled providers and 16 unbundled providers – almost a 20% increase over our 2013 effort. Note that there is no charge to participate. Compared to the 2013 edition, we welcomed back these 8 bundled providers: AIG, CNA, ESIS, Gallagher Bassett, Liberty Mutual, Risk Sciences Group, Sedgwick, and Travelers. A new 2015 response was also received from York Risk Services Group. Zurich responded in 2013, but did not respond for the current review. For unbundled providers in 2015, we welcomed back 12 RMIS platforms: APP Technologies, CSC, DAVID Corp, Ebix, INFORM Applications, MountainView Corporation, Origami Risk, Riskonnect, Risk Sciences Group, Marsh ClearSight (fka Stars), Systema Software, and Ventiv Technologies (fka Aon eSolutions). New 2015 responses were also received from these 4 unbundled providers: EFFISOFT, JDi Data, PCIS, and Solartis. Thank You We thank you – the reader – for your interest in this material. It is our firm belief that publications like this simply make comparative information more accessible and more relevant. We hope that you appreciate several enhancements throughout this document whereby we have sought to present a giant amount of material in the most digestible way. Lastly, we thank Dave Tweedy for his vigilant dedication to his own exacting standards. When it comes to navigating 15 April 2015 | www.advisenltd.com 2015 RMIS REVIEW the complex world of bundled and unbundled RMIS platforms, Dave is unmatched in both knowledge & experience as well as his inclination to provide fair & impartial assessments above all else. It’s a true pleasure to work with Dave on this project. Look Ahead & Look Back Reader comments and questions are invited via [email protected] RMIS Providers who want to participate or keep us updated should use the RMIS Provider Info submission button located on: http://www.advisenltd.com/research/rmis-review-dave-tweedy To download the 2013 RMIS Review Provider Assessment or the 2014 RMIS Review User’s Perspective, use the links posted at the bottom of this page: http://www.advisenltd.com/research/rmis-review-dave-tweedy To learn about sponsorship opportunities in the 2016 edition, contact [email protected] Jeffrey Cohen Executive Vice President Advisen 16 April 2015 | www.advisenltd.com You have a passion for your business. We have a passion for protecting it. You live for the challenge of managing risks. You have a passion for your company. Liberty Mutual Insurance has a passion for protecting it and is committed to developing tools that make it easy for our customers to better manage claims. Our innovative risk management information system, RISKTRAC®, helps you easily track, manage, and report on claims. Visit us at RIMS booth #821 to demo our RISKTRAC products, including our award winning Workers Compensation Analytics Interactive Dashboard. To learn more about Liberty Mutual Insurance visit libertymutualgroup.com/business. @LibertyB2B © 2015 Liberty Mutual Insurance. Insurance underwritten by Liberty Mutual Insurance Co., Boston, MA, or its affiliates or subsidiaries. SORRY, PUDDING , BUT THE PROOF IS IN THE NUMBERS. Because the numbers show that we close workers compensation claims 23 percent faster and at 9 percent lower cost per claim than our competitors. And our nurse case managers focus on getting your injured employees back to work quickly, because there are some things you can’t put a number on. Visit us at RIMS booth #821 to learn more about our risk management information system, RISKTRAC®, and demo our award winning Workers Compensation Analytics Interactive Dashboard. Our innovative tools can help you better manage your claims. Visit helmsmantpa.com to learn more. Source: Internal analysis of 2013 data published by SNL Financial. 2015 RMIS REVIEW DAVE TWEEDY’S COMPARISON & EVALUATION Since I first started writing RMIS Review in 1984, the primary goal has been to provide the reader with information on the most significant risk and claims management information systems available today. Like before, we contend that those vendors and systems represented in this analysis are the best available in this niche marketplace. We are always interested in expanding the number of vendors participating in the Review. We are pleased to have PCIS, Solartis and JDi as new participants. We welcome back Effisoft after a few years’ hiatus. We hope that the Hartford and Zurich will return to RMIS Review in the future. As before, the Review is divided between Bundled and Unbundled system providers. Bundled is simply defined as systems that remain with the vendor if the client leaves. If someone had Broadspire or Travelers as a TPA or insurer, they would have access to the proprietary RMIS of those firms. If the client left to another TPA or insurer, they would be getting a new bundled RMIS. By contrast, an unbundled RMIS is portable and stays with the client regardless of the TPAs or insurers involved. Evaluation Criteria: Similar to the 2013 survey, our primary source of information came from the vendors themselves. Bundled vendors responded to an 84 questions while unbundled vendors had 96 questions to answer. The questionnaires focused on the following major categories, each with their own contributing factors. Here is table identifying the Evaluation Criteria: Technology Functionality Organization Architecture Lines of business supported Stability & Support System Scalability* Dashboards & Alerts Service & Sales team Platform Standard Reports R&D investment Mobile Devices Policy & Exposure Growth* Security Analytics & Metrics Client Retention* Browser Neutrality Claims Management User Conference Claims Administration* Market Penetration* 3rd party reporting Other system interfaces* Multi-lingual; multi-currency *Not used with Bundled vendors The majority of this Review will be based on what the vendors said about themselves. We even use material from each vendor’s website to introduce each individual write-up. However we at RMIS Review reserve the right to include our market experience and understanding in the evaluation process. Unlike 2013, User Feedback is not a part of this study. We will conduct a revised and updated User Feedback-based review in 2016. 19 April 2015 | www.advisenltd.com 2015 RMIS REVIEW As a matter of fact, we would appreciate readers’ suggestions on what they would like to have reviewed in both the User Feedback and Functionality reviews in future releases. Rating Discussion We will be changing our rating schema this year to one similar to Gartner. Instead of numerical or alpha ratings (such as 1 to 5 or A+ to D-) we will be using the following qualitative terms to describe the rates: • Superior: Meets all criteria posed in questionnaire, plus RR’s market knowledge • Excellent: Meets most of the criteria posed, plus RR’s market knowledge • Good: Meets a good percentage of criteria posed, plus RR’s market knowledge • Average: Meets about half of criteria posed, plus RR’s market knowledge • Below Average: Meets few of criteria posed, plus RR’s market knowledge. Behind the scenes, however we will be using the numerical rating similar to RR’s 2013 and 2014 versions to gauge how each vendor answered a question and add our opinion/interpretation based on our market experience. The exact rates will remain with me at Bickmore. Each individual vendor/system write-up will have an introduction (mostly taken from the vendor’s own website), followed by the actual survey they filled out, then with a closing commentary by us. We will list the Strengths and Weaknesses and then follow up with an overall individual evaluation, assigning the appropriate rating (from Superior to Below Average). Our individual numerical ratings and algorithms remain with us. We translate those into the Superior to Below Average ratings that you see in the Review. 20 April 2015 | www.advisenltd.com 2015 RMIS REVIEW BUNDLED INDUSTRY DISCUSSION This year, we have the following participants: TPA Based Systems Insurer Based Systems Broadspire (division of Crawford & Co.) AIG ESIS (division of ACE Insurance) CNA Gallagher Bassett Liberty Mutual Insurance Group Sedgwick Travelers Insurance Group York Risk Management Services Zurich declined to participate this year. As before, we separated the bundled systems into those provided by insurers and TPAs. In the past, the functionality provided seems to be more robust with the TPA systems than the insurer ones. That trend continued this year. TPA Based systems: There hasn’t been too much change since 2013 except that we now have York Risk Services Group included. Every TPA scored Excellent across the three categories. However, there were differences within the ranking: Excellent Rated: • Broadspire: By a small difference, Broadspire retained top bundled RMIS honors. The primary reason is that they utilize the software (Dmitri) and services of Risk Sciences Group, one of oldest and top ranked RMIS-oriented vendor in the industry. RSG is a division of Crawford & Co. The Dmitri system provides great flexibility and analytical capabilities to Broadspire. Crawford senior management continues to support RSG which is certainly evident in its bundled operations with Broadspire. • Gallagher Bassett/York (tied for 2nd): Both GB and York have struck individual agreements with top ranked Origami Risk to provide their customer facing RMIS software. GB’s version is called Luminos while York’s is called FOCUS. With some minor variations, the software is being used in similar fashion by both TPAs. RMIS Review believes that that as the Origami software becomes more deployed and utilized by both TPAs, the functionality will increase. Both TPAs have recognized the need to invest in good systems to keep up with their competition and provide the best service to their clients. • Sedgwick: ViaOne is the client facing system for Sedgwick clients. It draws its information from the underlying claims system, JURIS, and provides clients with good claims analysis information. 21 April 2015 | www.advisenltd.com 2015 RMIS REVIEW • ESIS: GlobalRiskAdvantage is the client facing system provided by ESIS, a division of Ace. It provides solid claims information to ESIS clients. • Insurer Based systems: Similar to the TPA grouping, not much has really changed in 2 years as far as the ranking. All provide their policyholders with good analysis on their claims. However there are decided differences. IT is apparent that both AIG and Travelers, as before, have continued to invest in their bundled systems because it shows. That had been a problem with Zurich in 2013. Excellent Ranked systems: • AIG: The IntelliRisk suite array of client systems was the top ranked insurer system this year. Advanced IntelliRisk provides detailed analysis to clients while the traditional IntelliRisk is available to any AIG business policyholder. The technology and functionality of the software and the size of the service staff, shows the continued interest and investment that AIG places in IntelliRisk. • Travelers: eCARMA has been one of the most functional and visually pleasing bundled systems for many years. It continues to show the high regard that senior management in Travelers has for this system. • Liberty Mutual: RISKTRAC has definitely improved over the years and provides a very good claims information system. Good Ranked systems: • CNA: eSight provides good claims information and reports to its client base. It is a definite improvement to its predecessor, Clearview. 22 April 2015 | www.advisenltd.com Risk managers have always turned to us with their hardest problems. For more than 40 years, we’ve delivered creative, proven solutions. You may not recognize our name, but Ventiv Technology became an independent company last year when Aon eSolutions became part of the strategic investment firm Symphony Technology Group (STG). Our name and ownership may have changed, but our unrelenting passion for inspired thinking and client success hasn’t changed. We understand that your job is more challenging than ever. More data. Increased business complexity. Greater security risks. Heightened expectations. Less time to respond, and with fewer resources. There’s never been a greater need for effective risk technology solutions. But how do you cut through all the clutter and find the right solution for your business? Start by considering the top factors your peers use when evaluating risk, insurance and safety software providers… Control: The buck stops here. Ventiv is the only independent software provider who owns and is responsible for our system, end-to-end. Other providers rely on 3rd party platforms and have limited control over development priorities, security or performance. Independence: Your interests come first. Ventiv is the only independent software provider with the ability to put your interests first and the resources required to continuously evolve our products to deliver mission critical capabilities that better meet your needs. Purpose-Built: Products designed to support how you work. Ventiv is the only provider with risk, insurance & safety products developed from the ground up using the latest technology, meeting your needs with integrated capabilities like data services and predictive analytics. Support: The ability to serve and grow with your business. Ventiv is the only software provider who includes 24 hour local support in the US, EMEA and Asia-Pacific. We also have dedicated account teams who know and care about your business needs, and not just our software. Security: Protect your data at all times. The average data breach cost $3.5 million in 2013. Ventiv delivers our solutions via the industry’s only fully owned and managed private cloud. Other providers put your data at risk by involving external fourth- and fifth-party vendors. For the best information management solutions, risk managers turn to Ventiv Technology. But don’t just take our word for it. Ventiv received Business Insurance magazine’s 2015 Innovation Award for its Combined Corporate & Captive Risk Management Solution. It exemplifies our ability to solve critical client problems by combining our proven technology with our deep industry experience. We’ve done it again this year Redesigned for 2015, our most advanced version ever of RiskConsole lets you take control of your risk, safety and insurance management programs. Key enhancements include: CUSTOMIZABLE DASHBOARDS INTEGRATED SAFETY MANAGEMENT Easy-to-use widgets let you choose from numerous key-performance statistics and indices to build the exact dashboards you need. Track and evaluate pre-loss activities (safety meetings, surveys, audits, preventive measures) and link them directly to your loss experience. EMPOWERED SELF-SERVICE DYNAMIC DATA INTAKE Client administrators can add new fields and objects and design and modify screens. Everyday users can be presented tailored screen views. Capture complete, accurate information from the field with our new “Flexible Forms” tool: from incidents and claims to safety audits and surveys. POWERFUL GEOGRAPHICAL ANALYTICS VISUAL POLICY MANAGEMENT New analytic tools and data sources, including flood zones, improve ability to allocate loss-control resources, validate exposures and drive down premiums. Analyze program coverage, spot coverage gaps, and view placements by insurer with our redesigned policy module and built-in mud-map report tool. Benefit from our experience. Check out our library of client success stories, ebooks, market research and product resources. Visit ventivtech.com/resources ventivtech.com 2015 RMIS REVIEW UNBUNDLED INDUSTRY DISCUSSION This year, we have the following participants: Comprehensive/Hybrid Oriented Systems Claims Administration Oriented Systems RMIS Oriented-Systems DAVID APP Technology Effisoft JDi CSC INFORM Marsh ClearSight EBIX Risk Sciences Group* Origami Risk Mountain View Software Solartis Riskonnect PCIS Ventiv (formerly Aon eSolutions) Systema* *RSG and Systema have a partnership in place. No current joint clients yet. One of the challenges we face is properly distinguishing among all of the participants. Not every system is exactly alike. They have different strengths and weaknesses and deploy and support their systems in different fashions. As we did in 2013 and 2014, we are distinguishing the Unbundled sector into the following 3 sectors: • Comprehensive or hybrid systems • Claims administration-oriented systems • RMIS-oriented systems We realize that all labels have their shortcomings and some of the vendors might object to being put in one category vs the other. For example, a vendor placed in the RMIS-oriented category may rightly claim that they do some claims administration services to some of their clients. Our goal is to simplify the evaluation process for the reader. The predominant orientation of the vendor and system, as demonstrated by its client base, system functionality and market knowledge, is what determines the most reasonable category. Comprehensive/Hybrid Systems: Otherwise known as the full service systems. Superior Ranked: In this industry for the past several years, two vendors have stood at the top of the industry. It has become nearly impossible to rank one ahead of the other. This year, the ratings were so close that the difference was negligible. • Origami; Riskonnect: Because it was virtually impossible to make a clear differentiation, we ranked them as tied for number 1. They are the only two vendors who had Superior ratings in all three categories. The combination of excellent technology, experience, marketing savvy, good funding and solid personnel and leadership is a hard to beat. In most of the competitive bid projects in which I participated as a consultant, one or both of these vendors was included in all of them. There are similarities. Both were founded by men who had run previous RMIS enterprises. Both utilized the public 25 April 2015 | www.advisenltd.com 2015 RMIS REVIEW cloud upon which they built out their applications. Many of the employees of each vendor have long years of experience with other RMIS providers. Both are extremely good at marketing. Both are innovative. Both have had rumors circulated about being a target of acquisition (Discussed later). There are differences. One is based upon the Amazon public cloud (Origami) while the other utilizes Force.com (Riskonnect). Riskonnect has developed applications across a wide swath of functionality from claims to governance and enterprise risk management. Origami has been very successful in private labeling its software to insurance providers. Both companies continue very impressive growth and profitability trajectories. They have set the trend for the RMIS industry for the past 5 years. Excellent Ranked: Many unbundled vendors fall into this larger category. Based on their surveys and our research, here are the next three: • Marsh ClearSight: The former CSSTARS, ClearSight remains the largest RMIS provider with the most clients and most generated revenue. In addition to its rebranding, ClearSight’s next-generation risk management platform seeks to integrate analytics, collaboration, and applications in a single cloud-based solution for risk managers. They have made more of a move to get closer to their parent (Marsh) which represents a distinct departure from past CSStars’ leadership doctrine. Marsh has definite demonstrated its support of ClearSight. They have added new clients and continuing to improve its application base (Enterprise, Alpha) with an ever growing focus on data analytics, predictive modeling and TCOR development (Total Cost of Risk). • Ventiv Technology: Taking the exact opposite path, Ventiv Technology (a division of Symphony) departed from its broker-based owner last year (Aon) and established itself as a stand-alone, independent organization. They have maintained a strategic partnership with Aon but Ventiv is now able to chart a different course as an independent. They have been very successful in establishing their new identity, kept its client base, and continued its innovation and growth goals. They have a robust system, RiskConsole, that appeals to the largest of clients. But they have also developed RiskConsole Express, a lighter version that appeals to the virtually ignored middle market. • DAVID Corporation: Since Mark Dorn took the helm at DAVID Corp, as we predicted, there has been non-stop activity at the 30 year old vendor headquarters. New offices are opening up; experienced people are being hired, deals are being won. Investments in the older system applications are being made. We have seen a dramatic uptick on DAVID involvement across the RMIS and claims management landscape. We look for continued improvement. Good ranked: • JDi Data: Although new to RMIS Review, JDI has been providing risk/claims solutions since 1993. They have a good collection of claims and policy/underwriting applications based on solid technology. They are independent and based in Ft. Lauderdale, FL. 26 April 2015 | www.advisenltd.com 2015 RMIS REVIEW CLAIMS ADMINISTRATION-ORIENTED SYSTEMS These systems may have some risk management capabilities but their primary focus is on claims administration. Excellent Ranked: There were a number of vendors that fit this description and it was very hard to differentiate among them. • Systema: Systema Software, based in Larkspur, CA, maintains its top claims administration oriented status in RR from 2013 but the competition was very close. Systema continues to grow at a rapid pace with a very good staff of sales and support personnel, good leadership, continued software innovations, and a valuable strategic partnership with Risk Sciences Group. • EBIX/CSC (tied): Both EBIX and CSC are large insurance technology firms and have been providing solid applications to the insurance marketplace for years. Again, a case could be made for both companies that they could be placed in the Comprehensive systems category because both have risk management and data analysis capabilities. Their focus however has been in providing good claims administration software to the risk and insurance industries and they continue to do that very well. • PCIS: PCIS is another new vendor to the RMIS Review but they have been in the insurance systems space for over 30 years. Their first RMIS was sold in 2012 so that are new to this industry. We were impressed with their array of claims administration capabilities combined with good technology. • APP Technology: Once again, despite their size, APP ranks as an excellent claims administration vendor with solid technology. Average Ranked: • Mountain View: A division of Gallagher Bassett Services, Mountain View has been providing good claims administration systems to self-insured organizations for a number of years. If they had answered more questions on the survey, a different ranking would probably have been given. RMIS-Oriented Systems: These systems focus more on RMIS related functions than they do on providing a claims administration solution. Excellent Ranked: • Risk Sciences Group: RSG is the clear cut winner in this category. We would have included them in the Comprehensive category if they possessed an internal capability of handling Workers Compensation claims administration: Risk Sciences Group. However, since last year, RSG has been in a strategic relationship with Systema Software of California, the top ranked claims oriented system. There have been no sales as yet but we are told that there are several opportunities in both RSG’s and Systema’s pipeline. 27 April 2015 | www.advisenltd.com 2015 RMIS REVIEW RSG is also unique in that it provides the software for Broadspire, division of Crawford & Co. Broadspire was the top ranked system in the bundled space. RSG only submitted one questionnaire that covered both its bundled and unbundled information. They did not make any differentiations between its unbundled and bundled data so we were not able to provide any specific breakdowns. Good Ranked: • INFORM Applications: INFORM is one of the oldest RMIS providers in the industry (1985 first RMIS installation) and they have a reputation of being a very solid service organization as evidenced in 2014 RMIS Review (User Feedback). • Effisoft: This internationally based firm returns to RMIS Review after a several year absence. They had a RMIS product at that time but now are focused on providing a reinsurance/excess system. As such, they are not your typical RMIS provider. However, from an excess system perspective, they would rank very high. • Solartis: This is the first time for Solartis in RMIS Review although they have been in the insurance software field for a number of years. Solartis, like Effisoft, is not your traditional RMIS with an active claims focus. It is a data aggregator and reporting tool, however, and does that very well. They have a very interesting application. 28 April 2015 | www.advisenltd.com 2015 RMIS REVIEW RUMOR MILL AND RECENT NEWS DISCUSSION Because it is a dynamic industry, there are always changes; sometimes, right up to the last minute before RIMS. Plus, there are rumors circulating out in the industry about some of the leading vendors. We started to deal with these rumors in the 2014 RMIS Review, when there was strong evidence that Aon was getting ready to sell eSolutions. We need to continue that due diligence to address rumors within the RMIS community. Rumors: The most popular ones being circulated are ones concerning the acquisition of Origami Risk, Riskonnect and the unbundled part of Risk Sciences Group (division of Crawford & Company) by larger organizations. RMIS Review contacted each of the presidents of these organizations. Here are their responses: “Origami Risk is owned solely by its management. We like our independence and think that approach best serves our clients. We do not have any plans to sell Origami Risk.” Bob Petrie President, Origami Risk .................................................................................................................................................................................................. “Three things have happened recently bringing a lot of attention to the risk management software market. First Riskonnect’s success and growth is unprecedented in the industry. Second, Aon decided to divest itself of its software division, Aon eSolutions. And that due diligence and bidding process garnered substantial interest from the investment community, shining a spotlight on this software market. Third, Riskonnect’s transformation of what technology can do for risk managers has broadened the number of companies, departments, and careers that can benefit from a risk management work platform, dramatically increasing the size of the market. As far as Riskonnect goes, we are having a blast, and have no intention of letting someone else have all the fun. We are the fastest growing company in the industry and we have every intention of keeping the pedal to the metal. Our leadership controls the company, and we see no reason to change that.” Bob Morrell CEO, Co-Founder Riskonnect .................................................................................................................................................................................................. “Risk Sciences Group remains totally committed to our Unbundled business. We look forward to continuing to grow and expand the business in the years ahead.” Mark Stergio President Risk Sciences Group 30 April 2015 | www.advisenltd.com 2015 RMIS REVIEW RMIS Review believes that good, well run organizations always invite interest by larger organizations. After all, it happened with Ventiv the previous year. We will continue to watch and follow up all pertinent rumors that would affect the clients and prospects of these vendors. Other Industry News: Rebranding by Major Vendors 1. Marsh ClearSight: The rebranding of CSStars to Marsh ClearSight, as mentioned in the individual write-up section, was a significant move for the largest RMIS provider. Here’s a comment by Paul Marushka, President of ClearSight: “Marsh ClearSight, under its new brand and new software platform, is making a strategic move to further integrate STARS innovative technology and analytics with Marsh’s extensive data and industry resources. The goal is to assist organizations across the entire risk management ecosystem with integrated applications on a collaborative platform enhancing the workflow and decision-making among corporations, brokers, insurance carriers, re-insurers and other stakeholders. This move broadens the scope of the business beyond traditional risk management and into the realm of dynamic decision-making with real-time data and analytics across the entire risk management value chain.” ClearSight is putting itself in the same circle as other large technology consulting operations such as IBM Global Services, Accenture, Oracle and SAP. Their market is expanded beyond the traditional RMIS marketplace. 2. Ventiv Technology: Nearly one year after its acquisition by Symphony, Ventiv Technology has made great strides to confirm its place within the top providers of comprehensive RMIS systems. RiskConsole UX, with its completely new user interface, and the continued support of RiskConsole Express (aimed at the middle market), plus a very successful Users Conference all show the positives that took place since Ventiv became an independent vendor. Symphony itself continues to be bullish on the investment. “Symphony continues to be very excited about Ventiv Technology. Since our acquisition last year, we have been pleased with the innovation and growth generated by our people in a challenging, yet rewarding, business environment. We look forward to even greater results in the coming years.” Bill Chisholm Managing Partner Symphony Technology Group 31 April 2015 | www.advisenltd.com Next Generation in Claims Software: Fast. Flexible. Functional. Top-Rated Claims Administration System in Advisen RMIS Review A Overall Grade The RMIS Review provides readers with information on the most significant risk managment information systems. It’s a comparison of the “best of the best” systems on the market. SIMS Claims was rated as the top claims adminstration system in the Review with particularly high ratings in: A+ Scalability A+ Workflow A System Logic • Comprehensive claims system to manage multiple lines • Feature rich, highly configurable and seamless integration • Elegant design improves examiner productivity, efficiency, and focus • Breakthrough WC compliance: flash forms, comp rates, and automated EDI for FROI and SROI • Advanced business intelligence, as well as mobile and cloud capabilities REQUEST A DEMO To schedule a demo, contact [email protected] or visit www.systemasoft.com for more information. 900 Larkspur Landing Circle, Suite 201, Larkspur, CA 94939 800-272-9102 • www.systemasoft.com 2015 RMIS REVIEW RMIS REVIEW QUESTIONNAIRE TRANSPARENCY New for the 2015 RMIS Review Provider Assessment, we are presenting our first rendition of Questionnaire Transparency. We believe that some of our readers will want to know the relative level of response completeness associated with each RMIS Provider’s questionnaire. Please note that only those 25 RMIS Providers included in this report appear on this list; by definition all other nonparticipating RMIS Providers would be deemed to be “Incomplete.” We invite our readers to encourage those RMIS Providers to respond for our 2017 edition. Also note that the 2015 RMIS Review includes links to each provider’s raw responses, so while our readers can view all response gaps, no effort was made to rank or score the impact of relative blank response compare to another. Lastly, this approach does not account for situations whereby a provider used “no response” to indicate that a response was “not relevant” or “not applicable.” Unbundled Vendor Missing RATE APP Technologies 77 R&D percent Superior EBIX < none > Superior Solartis < none > Superior Ventiv Technology 76 Total Revenue 85 RMIS revenue 87 Revenue activities (%) Excellent DAVID Corporation 39 ISO 27001 certification 76 Total Revenue 85 RMIS revenue Excellent PCIS < very little “”additional”” info provided when given opportunity > 76 Total Revenue 85 RMIS revenue Excellent Risk Sciences Group 76 Total Revenue 85 RMIS revenue 87 Revenue activities (%) Excellent Computer Sciences Corporation 54 Hourly rate 76 Total Revenue 77 R&D percent 78 Customers (partial) 87 Revenue activities (%)” Excellent CS Stars 76 Total Revenue 85 RMIS revenue 86 Revenue generating activities 87 Revenue activities (%) Excellent 33 April 2015 | www.advisenltd.com 2015 RMIS REVIEW Vendor Missing RATE Riskonnect 76 Total Revenue 77 R&D percent 85 RMIS revenue 87 Revenue activities (%) Excellent Origami Risk 76 Total Revenue 77 R&D percent 85 RMIS revenue 87 Revenue activities (%) Excellent Systema Software 76 Total Revenue 77 R&D percent 85 RMIS revenue 87 Revenue activities (%) Excellent JDI Data 24 Workflow 43 Encryption protocols 50 TPA interfaces 76 Total Revenue 77 R&D percent 78 Customer statistics 87 Revenue activities (%) Good INFORM 42 Technologies supported 74/75 Employees 76 Total Revenue 77 R&D percent 78 Customers 81 Competitors 82 Programming language 85 RMIS revenue 87 Revenue activities (%) Average Effisoft < absolutely no “additional” info provided when given opportunity > 42 Technologies supported 43 Encryption protocols 48 Cyber 54 Hourly rate 78 Customer statistics 84 Mobile 86 Revenue activities Average 34 April 2015 | www.advisenltd.com 2015 RMIS REVIEW Vendor Missing RATE Mountain View Software < very little “additional” info provided when given opportunity > 8 Document management 17 Analytics 20 ERM 21 Current innovations 23 TCOR 24 Workflow 25 Claims Management features 31 Platform maintenance 32 Tracking software 33-35 Misc (all blank) 37 Infrastructure maintenance 42 Data standards 43 Encryption protocols 50,51 TPA interfaces 54 Hourly rate 55 EDI Compliance And many more ... Below Average Vendor Missing RATE Broadspire 67 Total revenue Superior AIG "35 ISO Certification 42 Cyber” Superior Sedgwick "36 Encryption at rest 67 Total revenue” Superior ESIS 18 ERM 67 Total revenue 68 R&D percent 82 Multilingual Excellent Gallagher Bassett “65,66 RMIS Employees 67 Total revenue 68 R&D percent 69 Customer statistics 71 RMIS competitors 77 Implementation estimates” Excellent CNA “< tons of N/A, “”eSight not marketed”” > 42 Cyber 67 Total revenue 68 R&D percent 71 RMIS competitors 77 Implementation estimates” Excellent York Risk Services Group “18 ERM 20 Allocation 21 Workflow 67 Total revenue 68 R&D percent 71 RMIS competitors” Excellent Bundled 35 April 2015 | www.advisenltd.com 2015 RMIS REVIEW Vendor Missing RATE Liberty Mutual “38 Tech standards 39 Encryption protocols 40 APIs offered 42 Cyber 45 Hourly rate 57 Tracking deliveries 64 Officers 65,66 RMIS Employees 67 Total revenue 68 R&D percent 69 Customer statistics 71 RMIS competitors 75 Pricing approach 77 Implementation estimates” Average Travelers “35 ISO Certification 36 Encryption at rest 37 Encryption at fields 38 Tech standards 39 Encryption protocols 40 APIs offered 42 Cyber 45 TPA interfaces 46 Hourly 67 Total revenue 68 R&D percent 69 Customer statistics 71 RMIS competitors 75 Pricing approach 77 Implementation estimates 78 Implementation fees 79 Implementation one time” Average 36 April 2015 | www.advisenltd.com 2015 RMIS REVIEW MINIMUM RMIS STANDARDS Risk Management Information Systems take many forms and have since their inception in the late 1960s when Corporate Systems first introduced a mainframe based system that took feeds from insurance companies and generated large paper loss runs in some organized format. Technology and tools have progressed significantly since those days. But, even today, Excel spreadsheets remain a very popular choice for an RMIS. I know of two Fortune 100 companies who only recently switched to off-the-shelf systems from Excel this year. So what should define a proper RMIS? We believe the RMIS must possess, at least, the following attributes: 1. Technology: • Web based • SaaS (software as a service preferred) • Multiple browsers supported (at least IE and either Chrome, Firefox or Safari) • Supports some devices (iPhone and/or Droid smartphones; tablets) • High level of platform and system security • Ability to easily integrate with internal systems (HR, general ledger, etc.) 2. Functionality: • Data aggregation through powerful databases • Robust, yet simple to use, reporting • Visual (dashboards, graphics) • Supports multiple lines of business • Some policy management • Certificates of insurance • Multi-lingual, multi-currency helpful • Business intelligence reporting available 3. Organization: • Experienced sales and support personnel • High degree of research and develop investment • User conference and/or frequent conference calls and emails to clients • Commitment to grow and expand 4. User Perspective: • Immediate returned calls or emails • Intuitive system (easy to learn and use) • On-line help videos or FAQs • Consistent service team (no frequent switching of people) 38 April 2015 | www.advisenltd.com SATISFY YOUR NEED FOR SPEED Blow away your competition with speedy, accurate claims processing using CSC’s RISKMASTER® Accelerator. This total claims and legal management system integrates all claims processes, gives you up-to-date data and streamlines workflow. Transform your claims and risk operations with RISKMASTER Accelerator — and hold on tight. • Streamline your processes and improve flexibility Learn how CSC can help you control your risk, claims and legal environment. RISKMASTER Accelerator provides the flexibility you need without the complex processes. It offers multilingual and multicurrency functionality, and its Web-based serviceoriented architecture ensures fast implementation. • Keep you adjusters connected with CSC’s mobile claims technology • Accelerate data exploration and reporting with our new business analytics tools • Control risk and mitigate future losses • Boost productivity with new mobile apps • Increase efficiency across the enterprise • Save 8% or more on legal expenses www.csc.com/risk_management_and_claims 2015 RMIS REVIEW SUMMARY RANKING FOR BUNDLED PROVIDERS TPA Systems Provider Rating 1 Broadspire Excellent 2 Gallagher Bassett Excellent 2 York Excellent 4 Sedgwick Excellent 5 ESIS Excellent Provider Rating 1 AIG Excellent 2 Travelers Excellent 4 Liberty Mutual Excellent 5 CNA Good Provider Rating 1 Broadspire Excellent 2 Gallagher Bassett Excellent 2 York Excellent 4 AIG Excellent 5 Sedgwick Excellent 6 ESIS Excellent 7 Travelers Excellent 8 Liberty Mutual Excellent 9 CNA Good Insurer Systems Overall 40 April 2015 | www.advisenltd.com you expect. we deliver. Results matter. That’s why you need a risk management partner who delivers the results you want. How do we do that? By using sophisticated predictive analytics to proactively manage claims and keep costs from spiraling out of control. By quickly getting injured workers to the right provider to speed their recovery. By integrating our managed care services to maximize the benefits of each component. By reducing unnecessary litigation and legal expenses. Everything we do is focused on reducing your total cost of risk. Because that’s the result you’re looking for. You expect superior results. That’s what we deliver. C L A I M S M A N AGEM EN T | M ANAG E D CAR E | R I SK MANAG E ME NT | LOSS CO NTR O L www. YORKRSG .com 2015 RMIS REVIEW SUMMARY RANKING FOR UNBUNDLED PROVIDERS Comprehensive / Hybrid Provider Rating 1 Origami Superior 1 Riskonnect Superior 3 Marsh ClearSight Excellent 4 Ventiv Technology Excellent 5 DAVID Corporation Excellent 6 JDi Data Good Provider Rating 1 Systema Excellent 2 EBIX Excellent 2 CSC Excellent 4 PCIS Excellent 5 APP Technologies Excellent 6 Mountain View Software Average Provider Rating 1 Risk Sciences Group Excellent 2 INFORM Good 3 Effisoft Good CMIS Oriented RMIS Oriented 4 Solartis Good Provider Rating 1 Origami Superior 1 Riskonnect Superior 3 Marsh ClearSight Excellent 4 Ventiv Technology Excellent 5 DAVID Corporation Excellent 6 Risk Sciences Group Excellent 7 Systema Excellent 8 CSC Excellent 8 EBIX Excellent 10 PCIS Excellent 11 APP Technologies Excellent 12 JDi Data Good 13 INFORM Good 14 Effisoft Good 15 Solartis Good 16 Mountain View Software Average Overall 42 April 2015 | www.advisenltd.com Ready for the Next Big Thing? INFORM Applications INFORM’s Risk Management Information System provides a very powerful yet easy to use solution for small to very large clients. We provide Carrier Data Consolidation, and Claims Management and Reporting, all in one web-based service. INFORM Provides: • Dynamic Portals/Dashboards/Score Cards • Powerful Drag and Drop Reports/Graphs • Claims Management • OSHA • Claim and Incident Reporting • Data Conversion • Incident Investigation • Loss Prevention Tracking • Litigation Management • Certificate of Insurance Tracking • Fleet Management • Claims Auditing • Employee/Customer Relations • Medicare Section 111 Reporting Claim Predator ® The Predictive Modeling offering for claims management. Empowers the Risk Professional to take proactive steps to reduce claim costs by providing a data-driven early warning of potentially high cost claims. Call today for more details. informapplications.com 631.851.0222 Ext. 10 See us in New Orleans at Booth #611 2015 RMIS REVIEW TECHNOLOGY vs. FUNCTIONALITY This diagram is meant to represent a graphical depiction of two of the three significant elements of an RMIS: Functionality and Technology. What isn’t represented is “Organization”. As you can see, the top rated systems with superior technology and a wide breadth of functionality are shown at the upper right of the chart. 44 April 2015 | www.advisenltd.com Facilitate Every Step of the Claims Process With IntelliRisk Services. AIG has the tools to help customers and brokers around the world manage their claims program and reduce costs. IntelliRisk® provides fast, convenient access to basic claim and policy information with the ability to create month-end and point-in-time valuated loss reports on demand. IntelliRisk® Advanced offers sophisticated risk and claim management features such as an interactive dashboard, real time access to Adjuster Activity Notes, proactive alerts on significant claim events, customizable ad hoc and standard reports, Profiling to identify high cost claims, OSHA reporting and much more. A mobile version is available that can be accessed using a web-enabled Smartphone or tablet. Data from around the world is consolidated and available in multiple common currencies, providing true global analysis and reporting capabilities. To learn more about IntelliRisk products and services visit www.aig.com/intellirisk or call 1 800 767 2524 (U.S./Canada) | 1 973 402 2802 (International) Insurance and services provided by member companies of American International Group, Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Service options vary depending on lines of business and countries. For additional information, please visit our website at www.aig.com. Certain products and services may be provided by independent third parties. Insurance products may be distributed through affiliated or unaffiliated entities. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. 2015 RMIS REVIEW BUNDLED SYSTEMS AIG............................................................................................43 Broadspire (Risk Sciences Group)...............................................44 CNA...........................................................................................45 ESIS............................................................................................46 Gallagher Bassett.......................................................................47 Liberty Mutual...........................................................................48 Sedgwick...................................................................................49 Travelers....................................................................................50 York...........................................................................................51 46 April 2015 | www.advisenltd.com 2015 RMIS REVIEW AIG EXCELLENT IntelliRisk Advanced; Intellirisk OVERALL VENDOR RATING American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurers. Strengths IntelliRisk Services offers risk management information services for policyholders of AIG Insurance. Our suite of products helps customers manage their claim programs and reduce costs. Designated business and technology professionals back all RMIS products and services and work with our customers to provide customized solutions. Excellent claims analysis tool Excellent use of multiple browser technology and mobile devices Well-supported by senior management Weaknesses Limited in policy and risk tracking View AIG’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/aig-bundled-vendor-rmis-2015-04-27.pdf 47 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Broadspire (Risk Sciences Group) Dmitri Suite As a part of the Crawford family of companies, Risk Sciences Group is a part of the world’s largest independent provider of claims management solutions with an expansive global network serving clients in more than 70 countries. RSG acts as a stand-alone risk management information services company, supporting Crawford and sister company Broadspire’s clients as well as working with other carriers, TPAs and self-insured companies. This allows companies the flexibility to find the best service providers for their needs. EXCELLENT OVERALL VENDOR RATING Strengths Utilizes the same RMIS of excellent unbundled vendor RSG Excellent data analytics and predictive modelling capabilities Weaknesses No significant weaknesses Since 1978, we have provided our clients with leading, independent risk management information services. Our technology is easily accessible to users, secure and easy to use. Most important, our clients are reassured by our high level of integrity and business ethics. As a result, our clients gain the insights necessary to reduce their overall cost of risk. Dimitri Suite helps organizations gain a better understanding of their risk landscape. Through quick access to accurate aggregated data and analytics, clients can gain insights that could save millions in claim costs. View Broadspire’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/risk-sciences-group-bundled-vendorrmis-2015-04-27.pdf 48 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW CNA GOOD eSight OVERALL VENDOR RATING At CNA, we focus on what we do best — providing insurance solutions that allow our customers to better manage their risks and grow profitably. We use our expertise to continually evolve our products and services to anticipate and address our customers’ needs. Our broad portfolio enables us to respond to a wide range of business risks while focusing on the specialized needs of our insureds in construction, manufacturing, technology, healthcare, professional services, financial institutions and small business. Strengths Mobile device access to eSight Weaknesses Limited functionality No access to other carrier data Limited browser types eSight is CNA’s proprietarily developed customer claim information and analysis application designed to provide secure, easy access to policyholder claim detail, including adjuster notes, financial transactions and claim activities. View CNA’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/cna-bundled-vendor-rmis-2015-04-27.pdf 49 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW ESIS EXCELLENT Global RiskAdvantage OVERALL VENDOR RATING Organized in 1953, ESIS is part of the ACE Group. ESIS provides a wide range of risk management products and services in the United States and around the world. Strengths Improved dashboard and ease of use Solid claims analysis system ESIS combines meaningful analysis of loss data with the power of Web technology through its Global RiskAdvantage risk management information system. Weaknesses Weaker on risk management, analytics View ESIS’ Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/esis-bundled-vendor-rmis-2015-04-27.pdf 50 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Gallagher Bassett EXCELLENT RISX-FACS; Luminos OVERALL VENDOR RATING Gallagher Bassett is the largest property/casualty third party administrator. With operations in the United States, Canada, the United Kingdom and Australia, we are the trusted advisor and collaborative partner to more than 3400 companies from every sector of the economy, worldwide. Strengths Attaining leadership in any industry requires technological excellence. Our proprietary risk management information system, RISX-FACS®, transforms ordinary loss data into organized, meaningful information that allows you to make timelier and intelligent risk management decisions. Luminos is the recently installed client-facing system, provided by Origami Risk, which draws information directly from RISXFACS. Utilizes top ranked Origami Risk to provide the client facing RMIS Full functionality of Origami is possible to GB clients, if desired. Weaknesses No significant weaknesses In process of maximizing Luminos within GB array of systems. View Gallagher Bassett’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/gallagher-bassett-bundled-vendorrmis-2015-04-27.pdf 51 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Liberty Mutual EXCELLENT RISKTRAC OVERALL VENDOR RATING As a business with more than 1,000 employees and multiple locations, the right insurance coverage is a critical component of your business’s success. At Liberty Mutual Insurance, we understand the coverages and services needed to keep the largest, most complex businesses protected. Strengths Good claims analysis tool Good link to Liberty’s data analytics and predictive model alerts Weaknesses RISKTRAC is Liberty Mutual Group’s Risk Management Information System, offered exclusively to our customers. Limited risk and policy management View Gallagher Bassett’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/liberty-mutual-bundled-vendorrmis-2015-04-27.pdf 52 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Sedgwick EXCELLENT ViaOne; Juris OVERALL VENDOR RATING Sedgwick is the leading global provider of innovative, technologyenabled claims and productivity management solutions, delivering a world of expert resources to a diverse client base through nearly 12,000 colleagues in some 275 offices located in the U.S., Canada, Puerto Rico and the U.K. We offer the broadest array of integrated services available in the industry, delivered by experienced, knowledgeable and dedicated people. Strengths Our viaOne® suite of web-based tools provides convenient online access to the claims information, and user-controlled data management and reporting capabilities of the Sedgwick JURIS® system. Clients who elect viaOne options can conveniently report new claims, enter notes, view and track claims information, manage OSHA reporting, and generate customized reports online. Juris is the back-end claims system while viaOne is the client-facing front end. Excellent claims information system Weaknesses Limited risk management/insurance analysis View Sedgwick’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/sedgwick-bundled-vendorrmis-2015-04-27.pdf 53 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Travelers EXCELLENT eCarma OVERALL VENDOR RATING Traveler Insurance Company, based in Hartford, CT, is one of the largest and most respected Property/Casualty insurance companies in the world for both commercial and personal lines. Their National Accounts division provides tailored bundled and unbundled loss-sensitive primary casualty programs and claim administration services for customers with $1 million or more total cost of risk. Strengths They also provide a world-class RMIS. Whether you’re insured or self-insure, have a bundled or unbundled program, Travelers e-CARMA® can help you manage your loss costs. Our risk management information system, an industry pace-setter since 1981, can provide you with the timely, comprehensive information you need to analyze loss data, keep up with claim activity and discover loss trends. e-CARMA Mobile Risk ManagerTM will allow you to access vital risk management information anywhere, anytime on your mobile device with a web browser. High level support by National Accounts Good dashboards and metrics Great support staff Weaknesses Limited browser options Limited risk management/analytics View Traveler’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/travelers-bundled-vendor-rmis-2015-04-27. pdf 54 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW York EXCELLENT FOCUS OVERALL VENDOR RATING York Risk Services Group is a premier provider of insurance, risk management, alternative risk, pool administration and claims management solutions to clients across hundreds of industries. Strengths FOCUS is York’s powerful, yet easy-to-use customer interface that gives you instant access to the information you want, exactly the way you want to see it. Not only can you easily view the details of a claim that your adjuster sees, you can instantly examine that claim in a specific context (e.g., similar claims, line of business, cause of loss, timeframe, etc.). Utilizes top ranked Origami Risk to provide the client facing RMIS Full functionality of Origami is possible to GB clients, if desired Weaknesses No significant weaknesses Every data field in York Claims Expert is available to you in FOCUS, where data visualization and interactive tools transform volumes of data into useful information that can be understood at a glance. View York’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/york-risk-services-bundled-vendorrmis-2015-04-27.pdf 55 April 2015 | www.advisenltd.com ORGANIZATION User Conference R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Third Party Reporting Excellent Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW UNBUNDLED SYSTEMS APP Technologies......................................................................54 Marsh ClearSight.......................................................................55 Computer Sciences Corporation................................................56 DAVID Corporation....................................................................57 EBIX, Inc....................................................................................58 Effisoft.......................................................................................59 INFORM Applications................................................................60 JDi Data.....................................................................................61 Mountain View Software...........................................................62 Origami Risk, LLC.......................................................................63 PCIS...........................................................................................64 Risk Sciences Group...................................................................65 Riskonnect.................................................................................66 Solartis.......................................................................................67 Systema Software......................................................................68 Ventiv Technologies...................................................................69 57 April 2015 | www.advisenltd.com 2015 RMIS REVIEW APP Technologies EXCELLENT Incident Management System (IMS) OVERALL VENDOR RATING APP Technologies, LLC was founded in 2003 with the mission of bringing exceptional claims software to the transportation industry. Our software was quickly embraced by a wide range of industries. We’ve come a long way since then: our solutions are in daily use throughout North America and handle claims and risk scenarios across many industries and lines of coverage, including P&C, automobile, GL, workers’ compensation, warranty, and more. Strengths Well designed, robust claims administration system Weaknesses Limited resources compared to larger companies Incident Management System (IMS) is an advanced claims and risk management software system built around the needs of selfinsureds, third-party administrators (TPAs), and all companies that need to track losses and claims. View APP Technologies’ Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/app-technologies-unbundled-vendorrmis-2015-04-27.pdf 58 April 2015 | www.advisenltd.com ORGANIZATION Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Marsh ClearSight EXCELLENT Enterprise, PE, Next Generation OVERALL VENDOR RATING A business unit of Marsh LLC, Marsh ClearSight supports more than 750 customers in 25 countries and has a trusted data store of over 60 million claims amassed through decades of operation. With the industry’s single largest risk database, Marsh ClearSight uniquely enables its customers to accurately analyze trends, gain industry insights, optimize decision-making, and reduce costs across the entire risk lifecycle. Strengths Largest system provider in the industry Comprehensive risk and claim management solutions Enterprise, Professional Edition and Next Generation are all part of the ClearSight suite of risk and claims management tools. Author’s note: This name change from CSStars to Marsh ClearSight was released to the public on April 14, 2015. We invite readers to go to the new website to read their press release. Top ranked data analytics and benchmarking Weaknesses No significant weaknesses As with any new initiative (moving from STARS to ClearSight) we will watch to see how this rolls out for current and potential clients. View Marsh ClearSight’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/stars-unbundled-vendor-rmis-2015-04-27. pdf 59 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Computer Sciences Corporation EXCELLENT RiskMaster Accelerator OVERALL VENDOR RATING A Fortune 200 company, CSC is one of the world’s largest and most respected providers of information technology services. Since 1959, the organizations that collaborate with us have benefited from every wave of IT innovation. Strengths Solid claims administration product Multiple insurance products RISKMASTER® Accelerator, the world’s most widely used risk and claims management software, provides a variety of powerful, scalable RMIS analysis and reporting capabilities available independently or as part of a comprehensive, integrated claims and risk management solution. It can help you evaluate injuries, control legal costs, identify potential fraud, automate policy administration and much more. Large technology company Weaknesses Not risk management or enterprise risk oriented Older architecture Questionable upper management support for RiskMaster View Computer Science Corporation’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/csc-unbundled-vendor-rmis-2015-04-27. pdf 60 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW DAVID Corporation EXCELLENT NavRisk OVERALL VENDOR RATING DAVID Corporation is a Risk, Claims and Insurance software provider specializing in risk management systems. We offer proven cloud based solutions for the alternative risk market including self-insured organizations, insured’s, public entity risk pools, third party administrators and related insurance users. Strengths Comprehensive service offerings including RMIS, claims administration and policy/underwriting functions; Backed by three decades of experience and client success, we help our clients run their operations more cost effectively by improving risk outcomes, meeting compliance requirements, increasing client retention, and leveraging both claims as well as policy data to improve their competitiveness. Long history of providing system solutions to the risk and claims industry NavRisk is a full service risk management and insurance software solution currently in production with various Insured Organizations, TPAs, a nd Risk Pools. NavRisk is a RMIS which integrates claims, policy and reporting to help organizations improve operations, reduce expenses, increase productivity and enhance agent and customer satisfaction. No significant weaknesses Weaknesses The new management team is in the process of upgrading all aspects of the organization from the service team to the underlying technology. It takes time, but it appears to be going well. View David Corporation’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/david-corp-unbundled-vendorrmis-2015-04-27.pdf 61 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW EBIX, Inc. EXCELLENT RiskEnvision OVERALL VENDOR RATING Ebix is a leading international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial industries. Ebix powers businesses in more than 50 countries across six continents. Strengths RiskEnvision is a modular, comprehensive suite of enterpriselevel RMIS products that offers a 100% web-based total risk management and claim administration solution. RiskEnvision can be deployed to support risk management and claims administration functions including payment processing, reserve management, form letters and correspondence, policy management, diary, reporting, and more for Auto, GL, Product, Property, and Worker Compensation lines of insurance coverage in a user-friendly application, with minimal maintenance overhead. Solid claims administration system with some risk management analysis functions. Part of a large insurance software organization with complementary service offerings EDI Compliance services Weaknesses No significant weaknesses More claims than Risk Mgt/ Enterprise oriented View EBIX, Inc.’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/ebix-unbundled-vendor-rmis-2015-04-27. pdf 62 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Effisoft GOOD WebXL OVERALL VENDOR RATING Effisoft delivers software solutions to the Insurance, reinsurance and Risk Management industries worldwide. Our products are designed for all insurance professionals comprising from risk managers to reinsurers, insurance companies and brokerage firms. Strengths Comprehensive reinsurance software package International orientation Effisoft has a customer base of over 300 companies in 5 continents, many of which are listed on the NYSE, FTSE and CAC40. We are headquartered in Paris, France, and have offices in Dallas and London. We serve the Asian & African markets through our affiliates in Singapore and Johannesburg. Weaknesses Claims administration Not designed for the primary layer-oriented RMIS marketplace WebXL is an end-to-end reinsurance platform designed to support the entire range of ceded, assumed and retroceded reinsurance for all major lines of property/casualty insurance lines. View Effisoft’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/effisoft-unbundled-vendorrmis-2015-04-27.pdf 63 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW INFORM Applications GOOD INFORM RMIS OVERALL VENDOR RATING INFORM is an independent provider. We work with all type of organizations. We service corporate, non-profits, manufacturing, food, hospitality organizations, non-profit, governmental agencies, carriers, TPAs and more. We also can partner with Brokers and TPAs to provide INFORM to their clients be it INFORM or a customized private label branding. Strengths INFORM comes to you with deep roots in the insurance brokerage business and was originally created in 1979 at Fred. S. James. INFORM Applications has been a subsidiary of Information Builders since 1999. Prior to that INFORM was created and developed at Sedgwick, PLC (now Marsh & McLennan). As an independent company INFORM has constantly expanded its suite of solutions. Experienced, long term RMIS provider Data analytics (claim predator) Weaknesses RMIS oriented Limited resources compared to larger companies INFORM offers a suite comprehensive line-up of easy-to-use reporting tools and data intake tools. Whether your needs are basic or complex needs INFORM has a solution. View INFORM Applications’ Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/inform-applications-unbundledrmis-2015-04-27.pdf 64 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW JDi Data GOOD Claims Manager; Policy Administrator OVERALL VENDOR RATING For three decades, JDi Data Corporation has developed innovative insurance software systems. As a leading technology solutions provider and developer we specialize in both standard and customized insurance management software that streamlines your work processes. Strengths Solid claims system Other insurance software (Underwriting) Weaknesses Claims Manager offers streamlined claims management solutions, standard or customized for Workers’ Compensation Claims, P&C Insurance, Risk Claims Departments, TPA’s, and Risk Managers for improving productivity while reducing risks and losses. Not as risk management oriented Limited resources compared to larger companies View JDi Data’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/jdi-data-corp-unbundled-vendorrmis-2015-04-27.pdf 65 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Mountain View Software AVERAGE ClaimZone OVERALL VENDOR RATING MountainView Software is a division of Gallagher Bassett Services, Inc., which is part of the Arthur J Gallagher family of companies.. MountainView Software was acquired by Gallagher Bassett in the summer of 2002. Strengths Claims administration oriented Solid owner Founded in 1994, MountainView Software was built on the foundation of superior products and technical support. For over 20 years, MountainView Software has provided a claims management and reporting software tool for professional claims adjusters called ClaimZone. Weaknesses Limited functionality beyond claims Left many questions unanswered on survey View Mountain View Software’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/mountainview-software-unbundled-vendorrmis-2015-04-27.pdf 66 April 2015 | www.advisenltd.com ORGANIZATION Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Origami Risk, LLC SUPERIOR Origami Risk RMIS OVERALL VENDOR RATING Origami Risk was founded by industry veterans as an alternative to the older legacy technology offered by many RMIS providers. To build our system, we took a fresh look at the needs of risk professionals. We designed our RMIS using the latest technology and a focus on performance and ease-of-use. Our technology is defined by powerful workflow, comprehensive reporting and analysis tools, and intuitive features. Strengths Comprehensive RMIS and Claims Administration system Wide client base including TPAs, insurers Our technology consolidates risk data and includes powerful tools to help clients understand their risk, identify cost drivers, manage risk events and share data and analysis across an organization. Origami Risk is updated several times a year with new features and capabilities. Our technology is hosted on the Amazon Web Services EC2 cloud, a highly secure and reliable hosting facility used by companies and government entities of all types. State of the art technology Origami’s approach to customer service is unique. Not only are we independent, but we are owned solely by our management team, which allows us to focus entirely on our customers. We are a magnet for the best talent in the RMIS industry and our work is performed solely by RMIS experts. There is no “revolving door” of service staff and we never assign junior staff to learn at your expense. No self-hosted options, only SaaS Superlative experience in RMIS industry Robust Growth Weaknesses View Origami Risk’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/origami-risk-unbundled-vendorrmis-2015-04-27.pdf 67 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW PCIS EXCELLENT CompVision; ClaimsVision OVERALL VENDOR RATING We are a leader in comprehensive policy administration and claims. For over 35 years, PCIS has teamed with our property and casualty insurance clients to develop easily integrated, knowledge-infused solutions. Strengths Scalable claims administration based system for self-insureds, carriers and TPAs The PCIS Vision suite of insurance processing solutions are built with the guidance of industry’s best minds in underwriting, policy administration, premium accounting and claims management. Underwriting solutions available Weaknesses Our technology platform is easy to administer and use, and scales to meet the requirements of carriers, self-insureds and thirdparty administrators. Not RMIS oriented Not multilingual/multicurrency View PCIS’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/pcis-unbundled-vendor-rmis-2015-04-27. pdf 68 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Risk Sciences Group EXCELLENT Dmitri Suite OVERALL VENDOR RATING As a part of the Crawford family of companies, RSG is a part of the world’s largest independent provider of claims management solutions with an expansive global network serving clients in more than 70 countries. Strengths Very analytical RMIS Improved usability RSG acts as a stand-alone risk management information services company, supporting Crawford and sister company Broadspire’s clients as well as working with other carriers, TPAs and self-insured companies. This allows companies the flexibility to find the best service providers for their needs. Weaknesses Perceived greater support for bundled (Broadspire) rather than unbundled standalone business. No WC Claims administration (however, there is a partnership with Systema for prospects with this need) Since 1978, we have provided our clients with leading, independent risk management information services. Our account and technical staff offer their expertise to each of our clients programs. Our technology is easily accessible to users, secure and easy to use. The Dimitri Suite risk management information system helps organizations gain a better understanding of their risk landscape. Through quick access to accurate aggregated data and analytics, clients can gain insights that could save millions in claim costs. View Risk Sciences Group’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/risk-sciences-group-unbundled-vendorrmis-2015-04-27.pdf 69 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Riskonnect SUPERIOR Riskonnect RMIS, et al OVERALL VENDOR RATING Riskonnect, Inc. is the provider of a premier, enterprise-class technology platform for the risk management industry. As an independent innovator in risk management technology, Riskonnect develops and markets a growing suite of technology solutions on a world-class cloud computing model, helping clients elevate their risk management programs, safety solutions and programs for management of risks across the enterprise. Strengths Most comprehensive array of RMIS, Claims, and Enterprise risk oriented solutions Diverse client base State of the art technology Superlative experience in RMIS industry Through Riskonnect RMIS, Riskonnect GRC, Riskonnect EHS, Riskonnect Healthcare, and other Riskonnect applications, the company provides the risk management industry with the specific, configurable solutions needed to reduce losses, control risk and affect shareholder value. Robust Growth Weaknesses No self-hosted options, only SaaS View Riskonnect’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/riskonnect-unbundled-vendorrmis-2015-04-27.pdf 70 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Solartis EXCELLENT Risk and Policy Manager OVERALL VENDOR RATING We were built from the ground up in 2004 by the founding team that runs Solartis today. We are a US company with operations in southern India. We are profitable, have no debt and employ over 300 people. The 3 founders of Solartis are insurance, business and technology executives committed to achieving the promise of our on-demand automation and BPO services model. Strengths Solartis Risk and Policy Manager is cloud-based software used to track, manage and report on all insurance policies, risks, coverages, premiums, and processing activities as well as its participants (i.e. members, subsidiaries, profit centers, business units) risks, coverages, premium contributions and insurance activities. Innovative way to combine policy-related information from a variety of sources for analysis Sound technology Weaknesses No claims management or administration capabilities although software does collect claims data View Solartis’ Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/solartis-unbundled-vendorrmis-2015-04-27.pdf 71 April 2015 | www.advisenltd.com ORGANIZATION Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Systema Software EXCELLENT SIMS Claims OVERALL VENDOR RATING Systema was founded in May 2006 by Jose Tribuzio and a group of executives from the Insurance, Software and Consulting industries. In early 2007, The Berkshire Hathaway Homestate Companies went live with our flagship product, SIMS Claims™, and since then we have experienced outstanding growth and profitability. Strengths SIMS is a very robust claims administration solution Excellent growth Independence SIMS Claims is a pure browser-based system, and was built by experienced enterprise system architects with direct input from a knowledgeable group of seasoned Insurance professionals. The system provides a complete set of out-of-the-box functionality enabling claims organizations to reduce expenses and increase productivity. SIMS Also provides the flexibility companies need to configure the application to meet their unique business needs. Weaknesses Lack of RMIS capabilities (however, has partnership with Risk Sciences Group to provide this capability; no joint deals as of this publishing) View Systema Software’s Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/systema-software-unbundled-vendorrmis-2015-04-27.pdf 72 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Ventiv Technologies EXCELLENT RiskConsole; iVOS OVERALL VENDOR RATING More than 550 organizations and 270,000 people around the world trust Ventiv Technology for their risk, insurance and safety software needs. We have more than 40 years of experience in the technology business. Formerly a unit of Aon PLC, we became the independent company Ventiv Technology when we were acquired by Symphony Technology Group in September 2014. Strengths We remain Aon’s technology partner for risk, claims and safety technology solutions. And our clients trust us to be safe and secure; Ventiv systems are delivered on our wholly owned and operated cloud solution, which is the industry’s most secure, transparent and accredited technology infrastructure. WebXL is an end-to-end reinsurance platform designed to support the entire range of ceded, assumed and retroceded reinsurance for all major lines of property/casualty insurance lines. RiskConsole is the comprehensive RMIS while iVOS provides claims administration software. RiskConsole Express is the lighter version of RiskConsole aimed at the middle market. Comprehensive software spanning all RMIS industry Highly analytical Oldest continuous unbundled RMIS provider (41 years) Global footprint Independence RiskConsole Express is product directly created for the large and virtually untouched middle market Weaknesses No significant weaknesses In final stages of combining applications into one integrated solution View Ventiv Technologies’ Survey Responses: http://www.advisenltd.com/wp-content/uploads/2013/09/ventiv-technology-unbundled-vendorrmis-2015-04-27.pdf 73 April 2015 | www.advisenltd.com ORGANIZATION User Conference Client Retention Growth R & D Investment Service & Sales Team Superior Stability & Support Multilingual / Multicurrency Other System Interfaces Third Party Reporting Excellent Claims Administration Claims Management Analytics & Metrics Policy & Exposure Good Standard Reports Average Dashboards & Alerts Browser Neutrality Security Mobile Devices Platform System Scalability Architecture Below Average SYSTEM FUNCTIONALITY Lines of Business Supported TECHNLOGY 2015 RMIS REVIEW Glossary TERM DEFINITION Logic Relates to the logical flow of screens on a task as well as the use of space on the screen Ease of Use Relates to the ease of use (or lack thereof) of a system Flexibility Shows how capable the software is to respond to different queries and functional requests Reliability Mainly shows how consistent the software platform is in terms of remaining “available” with little, if no, downtime Analytical Depicts the ability of the software to handle a multitude of analysis from standard to ad hoc and dashboard reporting capabilities Reports Robustness Comments on the ability of the software to provide a variety of standard, ad hoc, dashboard and business intelligence related queries Data Conversion Measures the ability of the vendor to convert data from alternate sources to the existing system General Services/Help Desk Measure how well the vendor services its clientele User Conference Measures how well the vendor’s User Conference is received Custom Programming and Interface Measures how well the vendor handles custom requests and interfaces with client systems Claims Administration: Scalability Measures the ability of the claims administration software to handle larger, more complicated client opportunities, like insurers or TPAs Claims Administration: Workflow Measures how well the claims software mirrors the logical business workflow of a claim department Insurance Management Shows how well the software handles insurance and risk management related analysis (certificates of insurance, exposure analysis, etc.) Data Management Services Measures the vendor’s ability to aggregate disparate sources of data into one uniform database Data Analytics Measures the process of inspecting, cleaning, transforming, and modeling data with the goal of highlighting useful information, suggesting conclusions, and supporting decision making Predictive Modeling Measures the software’s ability to create a model to try to best predict the probability of an outcome from the data it has access to. 74 April 2015 | www.advisenltd.com Loss Insight Access the power of more than 250,000 global severity events, exceeding $9 trillion in losses, and more than 20 million corporate litigations with Loss Insight. Loss Insight provides data on significant accidents, lawsuits, regulatory actions, and events. A complementary suite of analytical tools enable analysis of trends to support decisions on risk evaluation, pricing, and program structure. http://www.advisenltd.com/analytics/loss-insight/ Contact [email protected] 2015 RMIS REVIEW ABOUT ADVISEN Advisen is leading the way to smarter and more efficient risk and insurance communities. Through its information, analytics, ACORD messaging gateway, news, research, and events, Advisen reaches more than 150,000 commercial insurance and risk professionals at 8,000 organizations worldwide. The company was founded in 2000 and is headquartered in New York City, with offices in the US and the UK. Visit www.advisenltd.com to learn more. ABOUT BICKMORE Bickmore is one of the nation’s largest independent, non-brokerage risk management, group administration, actuarial services, and consulting firms. Bickmore was acquired by York Risk Services Group, Inc. in April, 2014, and continues to operate as an independent consulting business unit. Our clients include both public and private entities in over 30 states. The firm employs more than 100 professional and support staff, including credentialed insurance and safety professionals, experienced pool managers, certified public accountants, attorneys, credentialed actuaries, and certified workers’ compensation specialists. Bickmore is headquartered in Sacramento, California, and also has offices in Oakland, Dana Ptoint, and Orange, California, Medford and Portland, Oregon, and Providence, Rhode Island. Visit www.bickmore.net for more information. Dave Tweedy David Tweedy brings over thirty years of risk technology and claims management experience to Bickmore’s RMIS practice. He provides both private and public sector clients with risk information technology strategies creating premium solutions in this ever changing and growing area of risk management. As a leading expert in RMIS and claims management he has worked with a variety of organizations, from large corporations to public entities in assessing and redesigning insurer, TPA and independent based systems and improve their efficiency from technical, data quality and functional perspectives Paul Cross In his role as Senior Consultant at Bickmore, Paul Cross provides data analysis, application development and reporting activities for Enterprise Risk Management, Strategic Risk Management, Claims Administration, Regulatory and Information Technology projects. He has over 20 years experience in the industry and has held positions as actuarial analyst, information systems director, and risk management consultant. n 76 April 2015 | www.advisenltd.com Advisen Mission Leading the way to smarter and more efficient risk and insurance communities. Advisen delivers: the right information into the right hands at the right time to power performance. Contact: [email protected]
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