2023 RMIS Report

By: Jennifer Turner

May 1, 2023 — Risk management program leadership requirements include computing technologies that marry organizational information needs with the analytical tools necessary to successfully administer risk management and mitigation programs. To excel in our discipline, all of our Total Cost of Risk (TCOR) strategies, decisions, and conversations must align to successfully merge workplace actions with employee safety, organizational goals, and brand awareness.

Ensuring that our selected Risk Management Information System (RMIS) product suite includes all data inquiry, transaction reporting, and advanced interactive analytics is crucial to successfully managing business risks and enterprise-wide liabilities. With multiple data sources and round-the-clock input flows, how do we evaluate computing tools that we can use to pull all of our TCOR program details together?

The annual 2023 RMIS Report from Redhand Advisors is a great place to start. Published by respected industry veterans Patrick O'Neill and David Tweedy, the recently released report includes feature-set evaluations, client survey results and functionality commentary. Covering all bundled and unbundled RMIS system options for the risk management community, the Report is THE definitive guide to independent computing RMIS tool reviews.

"Redhand's comprehensive review includes core RMIS functionalities, as well as our wide array of Expanded Service add-on options," notes Jennifer Turner, GB's SVP for Luminos. For the sixth year in a row, the 2023 RMIS Report called out GB's Luminos platform as the most comprehensive product offering in the bundled TPA space. "Luminos is our one-stop-shop for all our client-facing computing products. Alongside core RMIS software features, we draw from our own repository of claim expertise and data science resources to provide a full suite of data benchmarks, scorecards and AI-driven analytics that deliver actionable program improvement information."

"RMIS Report client survey results also included top marks for our Luminos product implementation and support teams. Understanding client needs and delivering RMIS solution system value is at the heart of everything we do," Turner explains. "Our Luminos products are user-friendly; they excel at meeting a wide array of risk management information requirements and accommodate all levels of customization to meet organizational needs."

"Evaluation results again ranked our Luminos product top of the leaderboard for the bundled market space that includes TPAs, carriers and brokers," notes Joe Zinga, SVP, Risk Management at GB. "Our RMIS product suite also received the top scores from client survey respondents for ease of adoption, customer experience, and system satisfaction. We are honored by these RMIS Report results as we continue to meet data management challenges with flexible computing technologies that support the delivery of superior claim outcomes to our clients, carriers, and broker partners."

At Gallagher Bassett, we are always thinking about how to merge our claims management expertise, intellectual capital, and computing technologies with our family of industry-leading Luminos products. Interested in learning more? Why wait? Connect with us at the 2023 RMIS Conference in Atlanta.