The question usually comes up, why a RMIS system? Why an investment in technology? Today, the smart answer is simple, organizations that leverage RMIS technology outperform ones that use less advanced systems. The technology has gone through many iterations in the last three decades, DAVID Corporation has been a leader is each phase of the technology’s growth. Mark Dorn, President, and CEO has seen the evolution of the technology over the past 30 plus years and recognized three Acts in the RMIS technology life cycle:
“Act 1 of the RMIS industry has been using technology to help enable and empower the risk manager to [take care of] their day to day needs; it was always about [total cost of risk] and about making decisions to manage the TCOR.”
“Act 2, from around the year 2000 to the present, increased the focus on compliance.
“In 2017, however, it’s Act 3 now, which is all about helping risk managers move from defense to offense,” he said.
What that means is the old focus of data-mining and look-back reporting on dead data, and closed claims are obsolete. Today, risk managers have real-time data analytics that can prepare teams and organizations to make strategic decisions based on dynamic insights. Matched with embedded key performance indicators and risk scoring, overall performance is quantified much quicker allowing faster real-time adjustments to be made throughout the day. These add up and have a significant impact on the outcome affecting the total cost of risk (TCOR). NAVRISK VISION incorporated these key concepts and features to create the industry’s first Risk Performance Optimization (RPO) platform. Risk managers can control the data at their fingertips via powerful dashboards and make decisions to leverage key insights with a user-friendly interface.
“Playing Offense means spending more time looking ahead rather than behind, said Dorn.”
The NAVRISK VISION platform provides tools that meet the needs of modern risk management business units and gone are the days of waiting for reports or milling through old claims to find answers. NAVRISK VISION provides a platform for real-time data analysis. And that is what enables each contributor to play offense, and each decision based on analytical insights moves the ball forward.
This offensive momentum achieves claim expense cost reductions, staff productivity improvements, risk management improvements and better compliance with best practices.
The NAVRISK VISION Data Analytics module offers:
- Streamlined Design – It’s mobile friendly and cross browser compatible.
- Direct Access – To all data fields for ad-hoc reporting and graphing.
- Highly Configurable – Multiple formatting options to make your reports stand out.
- Ease of Use – Create dashboards with a step-by-step approach.
- Loaded with Features – Including email integration, automatic scheduling, and powerful grid views.
NAVRISK VISION creates opportunities for reducing the total cost of risk through building efficiencies in claim processes. Clients who choose cloud-hosting managed by DAVID Corporation get secure, reliable, best-in-class data application hosting and can also transfer the cost and risk in handling the data and data security.
NAVRISK VISION covers over 100 key risk and claim processes that allow users to manage their workload and time more effectively. This efficiency helps an organization save hundreds of hours in productivity gains per year typically 2-4 hours per claim per year or roughly 10% improvement in staff time.
See how you can move forward with a stronger offensive strategy. Schedule a demo of the award winning NAVRISK VISION software. Embolden your organization and make a move to drive up productivity for game-changing results with DAVID Corporation.