RMIS 2024 Report

May 09, 2024 — Options. Choices. Decisions. As the industry's trusted claims and risk management partner, we recognize that managing a successful risk program requires the right information at the right time. To excel in our discipline and act decisively in the best interest of any organization, all of our Total Cost of Risk (TCOR) strategies, decisions, and conversations must be aligned. Only then can we successfully merge workplace actions with employee safety, brand awareness and entity goals.

Many organizations excel at stockpiling transactional data. Those that lead successfully tap into the context and meaning of their risk information. Risk Management Information Systems (RMIS) products typically include data inquiry, transaction detail, and reporting analytics modules. All three components are essential to successfully administering sophisticated risk programs and mitigation strategies across any business entity.

With round-the-clock data flows, how do you pull all of your TCOR program data together? Have you thought about the metrics you can use to evaluate bundled RMIS products in the third-party administrator (TPA) market space?

We have. The recently released Redhand Advisors 2024 RMIS Report is the place to start. Published annually, the Report independently reviews all product offerings and highlights functionality assessments, general commentary, and NPS® Scores. The Report includes all RMIS options available for use throughout the risk management community.

"Redhand's review includes our hybrid RMIS functionalities, array of Expanded Service add-on options, and, new for 2024, Generative AI technology initiatives," notes Jennifer Turner, GB's SVP, RMIS Solutions. "Alongside core RMIS features, we seamlessly extend our offering with a suite of GB's proprietary data science — driven benchmarks, scorecards, and AI-based claim analytics.For the seventh year in a row, the 2024 Report recognized our Luminos product as the most comprehensive offering in the bundled TPA market."

"Report evaluation results also included top marks for our support and implementation delivery teams," Turner explains. "Our easy-to-use RMIS platform sets the industry standard for managing organizational TCOR. Delivering actionable information required to successfully manage enterprise-wide risk programs is the core of our Luminos Mission Statement and guides all daily product team activities."

Joe Zinga, EVP Risk Management Sales at GB, notes, "The RMIS Report also includes NPS® Scores, which measure the likelihood that individuals would recommend our product suite to a colleague or friend. The 2024 Report notes that GB had the highest number of client survey respondents and the highest NPS® in the TPA space. We are honored by these results as we continue to deliver superior claim outcomes to the marketplace. Delivering client, carrier, and broker partner data management solutions with market-leading computing technologies is the focal point of our RMIS strategies."

Zinga goes on to say, "Our continued leadership in the bundled RMIS market clearly validates the efforts of our entire organization, including our Luminos product teams, client service organizations, and Executive Management. At GB, we are always thinking about how to merge our claims management expertise, intellectual capital, and computing technologies with our suite of market-leading RMIS products."

Meeting current risk management challenges requires flexible technologies, resource agility, and a relentless drive for product innovation. Our state-of-the-industry RMIS training and client support programs along with our rapid product implementation timelines ensure that our Luminos tools are always ready to go. Anytime. Anywhere.

Attending the San Diego RIMS Conference? We'd be delighted to talk with you and showcase our RMIS product suite and Expanded Service offerings available to GB clients. Engage a member of our Sales or Client Service teams, or contact Jennifer Turner, SVP RMIS Solutions, at jennifer_turner1@gbtpa.com.