(March 8, 2013 – Toronto) Risk Control Technologies Inc., the industry-leading provider of loss control software solutions for insurers, today announced that Cambridge, Ontario-based Farm Mutual Reinsurance Plan Inc. (FMRP) has completed the first stage of implementation of the RC Inspection software solution, aimed at streamlining its internal loss control operations.
“We are very excited about this initiative” said Randy Drysdale, Assistant Vice President - Loss Control for FMRP. “Our vision for this project was not only around streamlining loss control processes internally to better serve our member companies, but also to explore methods to provide a shared services solution to help each company streamline its own loss control workflows internally.”
The initial rollout of the loss control system will allow underwriters at any of the FMRP member companies to enter survey requests for business being reinsured by FMRP into a centralized portal. These requests will then be managed through the RC Inspection solution by FMRP staff, and FMRP Loss Control Specialists will be equipped with tablet devices, loaded with the RC Inspection field app in order to capture risk data, photos, recommendations, diagrams and other pertinent loss control documents in the field, even in rural locations without mobile broadband connections.
RC Inspection is a highly configurable insurance loss prevention system which puts control in the hands of business-level users to manage all aspects of the system. This configurability allowed Risk Control Technologies, working closely with the FMRP team, to implement the first phase of the system deployment over an 8-week period.
“When we first spoke with FMRP, we initially believed FMRP’s need for a system was strictly internal,” said David Hanley of Risk Control Technologies. “We soon realized they had a much broader vision in mind – to explore methods to help their member companies enhance loss control capabilities through technology.”
In addition to streamlining loss control workflows, FMRP also saw great value in the reporting and loss control data mining capabilities offered through RC Inspection. The system offers a standard set of management reports as well as a powerful ad-hoc reporting tool which allows data mining on loss control data. This assists insurers in identifying loss control trends in order to improve risk profiles within their books of business.
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 Farm Mutual Reinsurance Plan Inc.
Farm Mutual Reinsurance Plan Inc. (FMRP) is Canada's first completely Canadian-owned reinsurance company. Located in Cambridge, Ontario, FMRP was formed in 1959 by Mutual Insurance Companies from across Ontario, who provide their Members with Farm, Personal and Commercial insurance products. For more information, visit www.fmrp.com.