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RISK MANAGEMENT BLOG

Risk and Mitigation for Property Managers

Property managers face a wide variety of risks in their work, and a study by Deloitte found that risk management is now one of the top three concerns held by property managers.  As their portfolio grows, so does the number of property and tenant risks.

A potentially overwhelming amount of information has to be effectively managed and used. There are legal risks every step of the way, as well as the general market exposure that almost every organization has to overcome.

Topics: property managers property management risk

Lessons Learned from a Claims and Risk Management Software Implementation

This week we're pleased to feature a guest post from Shannon Devane. Shannon is a ClearRisk user and also the Risk Manager at the City of Vaughn, Ontario. 

Full disclosure – I am not an Information Technology Specialist nor a Business Analyst. In fact, I’m a Risk Manager ‘moonlighting’ in software implementation and development. My background involves various areas of insurance, risk, and claims, primarily in the Public Sector. Throughout my career, I have been involved in several large software purchases and designs. From a large, multi-organization project to one catered to a specific group of clients with a single municipal implementation on the side, I have come away from each project feeling more confident and knowledgeable.

Topics: software for risk management risk professional RMIS implementing risk management smooth system implementation

4 Reasons to Track Claims In-House

Many companies do not keep claims information internally. They simply defer this record-keeping process to their insurance provider. However, there are several benefits to tracking this data in-house.

While it may be a bit of an adjustment at the start, you will quickly see a return on your investment as your risk management department and your organization as a whole benefits.

Topics: Claims Management incident management internal data track claims in-house

How to Hold Business Units Accountable for Claim Costs

If you think the cost of claims and incidents within your organization is too high, it’s time to address that problem.

But how can you know what steps to take when all you have is an overall number?

By breaking down occurrences by location, department, division, and so on, it will be easier to figure out the root of the problem and work towards solving it. That’s why it’s important to make these individual units accountable for their costs.

Topics: risk management plan risk ownership risk analysis risk management culture risk responsibility breaking down claim costs

5 Reasons Why Organizations Should Stop Using Excel

Practically everyone in an office environment has some understanding of Excel and similar spreadsheet programs. They revolutionized computing for finance and accounting firms and can be incredibly useful for a number of purposes.

However, as organizations become increasingly complex, spreadsheets can create more problems than they solve. For risk management in particular, organizations should consider moving to a more modern approach, such as a Risk Management Information System (RMIS). Here are some of the reasons why:

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