JOINING THE LIST OF INSURERS LEVERAGING THE INDUSTRY-LEADING RISK CONTROL SOLUTION
(January 17, 2011 - Toronto) Risk Control Technologies Inc., the industry-leading provider of risk control software solutions for insurers, today announced that Uniondale, New York-based Wright Risk Management (“WRM”) has selected the risk control software solution with a focus on streamlining loss control operations.
WRM was seeking a technology solution to automate its manual processes surrounding the loss control survey process, including inspection assignment, routing, field data collection as well as loss control data mining and reporting.
“We selected Risk Control Technologies because of their strong track record in the industry working with leading insurers,” said Bob Bambino, Senior Vice President of WRM, “in addition, RC Inspection was the best product we reviewed. We have high expectations for the new risk control system.”
WRM specializes in providing insurance solutions for both public and private sector entities, and plans to outfit its field risk control consultants with tablets, which will be loaded with the RC Inspection field application for field data collection. This will allow the field reps to collect risk data, photos, recommendations and diagrams in the field, even in locations without wireless broadband connections. Once data is collected in the field, data is then uploaded into a central database which allows underwriters to utilize the information in making underwriting decisions. This central data repository also offers data mining and reporting capabilities which have traditionally been unavailable in the paper-based loss control environment in which most insurers operate.
“Initially, WRM was seeking a solution to bolster productivity in the field” said David Hanley of Risk Control Technologies, “but once they began to see the benefits of the risk control management system to other stakeholders in the organization from a loss control data-mining and decision-making perspective, it was simply icing on the cake.”
Due to the configurable nature of the loss control solution, WRM has an aggressive, yet achievable implementation schedule of only 2 months. The solution will be delivered on a Software-as-a-Service (SaaS) basis by Risk Control Technologies, leveraging cloud technologies.
About Risk Control Technologies Inc.
Risk Control Technologies Inc. uses leading-edge technology to simplify what are traditionally horribly onerous, paper-based processes in the insurance industry. Today, the loss control solution developed by Risk Control Technologies is used by leading insurers throughout North America. For more information visit www.riskcontroltech.com.
About Wright Risk Management
Wright Risk Management, LLC designs and supervises comprehensive fully insured and self-insured risk financing and risk management programs for educational and municipal entities. The company specializes in general & professional liability, commercial property, commercial automobile, commercial crime, excess catastrophe liability and workers’ compensation - all the exposure and liability areas that confront entities in the public and private sector. For more information, visit www.wrightrisk.com.
