RISK MANAGEMENT BLOG

8 Reasons to Implement a Fleet Loss Prevention Program

Loss control is a management priority whether a fleet is large or small. A Fleet Loss Prevention Program can decrease insurance claims and help mitigate the frequency and severity of future losses. Often the other tangible and intangible benefits of these types of programs can be overlooked, but are just as valuable to your company!

Topics: risk mitigation plan Risk Management Software incident management software claims management software Benefits of Fleet Loss Prevention Fleet Loss Prevention Program Loss Prevention ROI municipal fleet management Sample Fleet Loss Prevention Program lower insurance costs

9 Steps for a Smooth Risk Management System Implementation

You’ve recognized the need for a risk management system, evaluated vendors’ products, and chosen the system that’s best for your organization. It may seem like the work is done, but there’s still a significant challenge ahead: the implementation of the system.

This step is arguably the most important: failure to smoothly implement a risk management system will make it much harder to achieve success. Before beginning implementation, consider the following advice:

Topics: risk management system implementing risk management begin managing risk smooth system implementation

8 Ways to Identify Risks in Your Organization

Even if you don’t realize it, you’re probably employing some kind of risk management in your organization. Over time, you develop procedures to make sure things don’t go wrong and put plans in place to reduce organizational impact if they do.

Creating a risk management plan is simply about formalizing that process and being able to devote your resources more effectively. The first step in this process, and one of the most important, is identifying your risks.

You will need to make a list of all the specific risks that could impact your organization. This can be a daunting task, especially for new businesses that don’t have years of experience and history to rely on. Fortunately, there are some strategies you can turn to for help:

Topics: Risk Management Process identifying risk identifying risks that threaten a company how to identify risk business risk management what are my risks

Why All Risk Managers Should Use Data Analytics

In a previous blog post, we discussed the importance of storing data and the value it can bring to any organization. Now, we’re going to talk about the next step in using data: analytics.

Analytics turn your data from useful to extremely effective and allow you to make changes that will benefit your organization as a whole. A survey by Deloitte found that 55% of organizations believe that analysis improves the organization's competitive position and 96% agree that it will continue to become more important over the next three years. Risk managers should utilize data analytics as they allow you to:

Topics: risk management data management internal data data analytics data analytics for risk management

Slips, Trips, and Falls: Proactively Manage the Hazards [Infographic]

Slips, Trips, and Falls: Proactively Manage the Hazards

If your organization has a physical area where employees work or customers visit, you need to proactively manage the risk of slips, trips, and falls. If you’re not convinced of the severity of these incidents, check out these concerning statistics:

  • Over 1,000,000 people annually need emergency medical care due to a slip or fall incident
  • 67% of falls are due to slips and trips
  • The average cost to defend a slip or fall claim is $50,000
  • Hip fractures and traumatic brain injuries are most commonly caused by falls
Topics: prevent trip and falls slip and falls trip and falls property liability prevent slip and falls

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