Data analysis can help predict the outcome of a situation or allow you to protect your organization against risk. As discussed in a previous blog post, analysis has many benefits including mitigating repetitive losses, lowering insurance premiums, and more.
We recognize that data analysis can be difficult, particularly for organizations with a lot of data and complex processes. In fact, an estimated 75% of organizations lack the technology or strategy to effectively use their data. That’s why we came up with this simple guide on the steps for data analysis.
Municipal risk managers have significant responsibilities. Resident complaints, employee incidents, and a continuous stream of claims are just some of the challenges that are compounded by an inefficient system and the need to juggle priorities. Claims and risk automation allows the public sector to streamline their processes and achieve numerous benefits.
This is a guest post written by Carol Williams, founder and principal consultant of ERM Insights by Carol. Carol helps mid-sized organizations prioritize resources to focus on the biggest threats and opportunities. Grab her free ebook on how enterprise risk management is different from traditional risk management.
All successful endeavours that stand the test of time look at the big picture. History is replete with examples. If Henry Ford did not think about the big picture of mobility and production, would the iconic brand still be around today?
The same principle is true for initiatives within an organization – if you do not consider the big picture of how it will deliver value and achieve long-term goals, the effort has a higher risk of stagnation and even failure.