“Every dollar spent in risk reduction saves between $5 and $10 in economic losses…”
- Eric Schwartz, Boston Globe, March 23, 2008
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The Alternatives
| Alternative |
Cost |
| Hiring a full time RM professional. |
Average base salary for 2008 is $51,852 USD |
| Hiring a consultant. |
Variable costs depending on the organization, usually $150 to $250 per hour |
| Figuring it out on your own. |
Wasted work hours and reduced productivity.
Will not be industry best practices. |
Benefits of Using ClearRisk™
- Save money. Experience shows that formalizing risk management practices will likely result in fewer losses and lower insurance costs over time relative to doing nothing.
- Save time. Find all your professionally reviewed risk management tools, policies and templates in one place.
Never “Google” risk management again.
- Increase Efficiency. Formalize and organize your organization’s risk management practices to become more efficient.
- Increase Success. Companies that manage risk well are more successful than those that don’t.
ClearRisk™ Tools
Most organizations pay too much for insurance, uninsured claims, deductibles, lost time, and other risk-related costs. Whatever your skill level, ClearRisk™’s extensive library of Risk Tools will help you save time and money by providing step-by-step instructions and templates for managing risk.
We provide solutions in a fraction of the time it would take to do it yourself at a much lower cost than the alternatives. All of the information is designed to be practical and user gentle with a strong emphasis on samples, examples and templates so you will be able to easily find what you need and implement solutions.
ClearRisk™ Tool Features for Premium Subscribers
Risk Management Plan
- You will have a risk management plan generated for your industry.
- You can customize your plan to meet the specific needs of your organization.
- ClearRisk™ will track your progress as you advance through the implementation of your risk management plan.
- You can upload your unique risk management tools to use within your own plan or to share with the ClearRisk™ community.
Risk Management Reports
- You will be able to print a risk management report at any time with the click of a button.
- You can print multiple reports that show the progress you’ve made implementing your risk management plan.
- The reports can be shown to:
- Your insurance representative to get better terms.
- Your managers or your board to let them know the progress of your risk management efforts.
- Potential investors to demonstrate how your organization safeguards its assets from potential losses.
Risk Management Tools and Resources
- New tools are added regularly to help identify, analyze and manage your risk.
Become a ClearRisk™ member and start controlling risk today!
The Solution Is Clear
The Problem
Before you can understand the solution you have to know the problem. Every company and organization practices Risk Management either formally or informally. Small to Medium sized Businesses (SMB’s) are big enough to feel the pain of risk and its significant costs but are not big enough to have the resources or knowledge to formally manage risk. Currently these companies manage risk informally with the help of their insurance broker, many of whom are ill equipped to help them. As a result, SMB’s are unnecessarily paying too much for insurance, uninsured claims, deductibles, lost time, and other risk-related costs. All of which have a direct effect on their bottom line. The only alternatives currently available are to hire a full time professional, hire a consultant or figure it out on their own: all of these come at a considerable cost.
The Solution
ClearRisk™ is the answer to SMB’s risk management concerns. ClearRisk™ is a web-based resource where companies can manage their risk in a secure, collaborative online environment. The components of the online application are among other things: a customizable risk management plan, a collaborative database of peer reviewed content and a report builder.
With ClearRisk ™ you will receive:
- A Formal “customizable” Risk Management Plan
- ClearRisk™ Tools (policies, templates and instructions)
- Access to our Risk Management Community
- Best Practices / Industry Standards
- Additional Functionality added regularly
Become a ClearRisk™ member and start controlling risk today!
Features in Detail
Formal Risk Management Plan
Upon subscription, ClearRisk™ creates a customizable risk management plan for businesses based on their industry and risk profile. The business can then add to, edit, monitor and track progress through implementation of the plan. Within 15 minutes of subscribing, a business can go from not having any formal risk management plan, to having a comprehensive plan. The plan includes the tools, policies, templates and step-by-step instructions the business needs to start implementation.
In addition, with the risk management summary reporter, the business can easily report progress and successes to insurers, banks, senior management, the board of directors, shareholders and investors. With the click of a mouse, the summary reporter prints a physical report that would be of interest to these important stakeholders.
ClearRisk™ Tools
The risk management plan is comprised of all the ClearRisk™ Tools applicable to the business. ClearRisk™ Tools are the templates, policies, instructions etc. ClearRisk™ has a perpetually growing database of tools. Any member can go into the database and search for additional tools relevant to their specific business. They can then add these tools to their existing risk management plan.
Community
ClearRisk™ will cultivate a community around risk management. All members are encouraged to share any risk management practices they already have and comment and rate any pre-existing tools they use. This informally happens within many organizations and among professional risk managers. The problem is that all the knowledge is fragmented and spread across many different mediums. ClearRisk™ will create a “closed Wiki” where users can draw on each other’s collective knowledge and experiences.
Best Practices / Industry Standards
Risk management does not have industry wide standards. Presently, professional risk managers informally communicate with other risk managers they know to come up with, in their opinion, the best solutions to new problems. This leads to a fragmentation of risk management practices.
ClearRisk™ will strive to become the risk management industry standard. As stated above, it will be a wiki for anyone practicing risk management. ClearRisk™ has the benefit of standard Wikis (user collaboration to enhance content). The difference between ClearRisk™ and standard Wikis lies in the applications design. The application is designed so that any new content must first be reviewed by ClearRisk’s™ network of professional risk managers and academic editors. This will be facilitated through our application which gives the professional editor the ability to efficiently review and edit new content from his/her desktop. Once peer-reviewed, the editor can click a button and immediately send the content to the live site. Unlike other Wikis, this process ensures a professional standard will be maintained for the site’s content.
Additional Functionality
- Dashboard
After login, the user is shown his/her dashboard. It is a real-time overview of the current state of the business’s risk management plan. The user can see the progress meter, approaching due dates and tasks. Additionally, the dashboard provides an overview of current topics related to risk management such as, news articles, blogs and website updates.
- Calendar
Users can assign due dates to any tool. The dates are then displayed on his/her calendar. This allows him/her to stay organized and view approaching deadlines.
- Tasks
Users can create and assign tasks necessary to meet the deadlines mentioned above.
Become a ClearRisk™ member and start controlling risk today!