News and opinion for our clients and partners

RSA rolls out risk assessment platform

RSA has launched a risk assessment platform for commercial insurance customers and brokers.

The new online tool, designed to help businesses manage their risks, was developed in partnership with digital risk management software provider Risk Solved. It provides an immediate snapshot of users’ risk environment and a view of risk improvements that could be made.

Martin Turner, risk consulting director at RSA, said the platform is part of the insurance group’s drive to continuously enhance and expand the suite of risk management services it offers. The data captured by the portal will also enable RSA to offer improved insight and guidance around risks that may require further support.

“Now we have launched, we are looking forward to showcasing the platform and highlighting the benefits and efficiencies that can be gained from utilising it,” commented Turner. “We have been working alongside Risk Solved for over six months and we are delighted with the solution we have both created.”

Risk Solved global sales and marketing director Debbie Baker, meanwhile, is keen on collaborating with the insurer over the coming years. Baker added that they made sure the platform can improve customer engagement as well as deliver the right information to the underwriting stakeholders.

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IUM selects Risk Solved digital platform to improve risk management and deliver insights …. live in less than 100 days!

IUM is the largest independently owned underwriting manager in Southern Africa, offering brokers and their clients insurance solutions that are comprehensive and cost-effective. Their solid financial backing, years of insurance experience and advanced integrated software systems ensures IUM remains at the forefront of this highly competitive industry.

Antonio Iozzo CEO of IUM says “We are passionate about delivering advanced insurance solutions to our customers. Having reviewed our processes, we identified “risk management” as an area having opportunity for improvement. Whilst we have always been early adopters of technology, we required a smarter way to engage with customers. Partnering with our customers to reduce risk, improve technical underwriting and improve their loss ratios is to everyone’s advantage.

I tasked my team with sourcing potential partners. One stood out head and shoulders above the rest – Risk Solved. Why? Their people-highly responsive and knowledgeable, their solution-a true SaaS platform which is configurable by the business subject matter experts, not dependant on scarce and expensive developers and finally the company is proven-used by industry leaders.

Following the initial implementation and training my team have been building out questionnaires. We have gone live with the first line of business in less than three months from selecting a solution which is eyewatering and probably record breaking for an insurance IT project!”

Antonio continues “The Artificial Intelligence in the platform enables us to have informed customer discussions plus consuming third-party data sources, eventually we will be empowered with unique data insights which will enhance our underwriting further.”

Debbie Baker Sales and Marketing Director of Risk Solved said “South Africa is a new territory for Risk Solved and culturally, IUM is a great partner to work with, top down the team are highly engaged and keen to make a difference. Our application is a great fit for the team as they can work offline and online according to preferences/connectivity availability delivering data consistency. Importantly, IUM can have a better customer engagement which should lead to overall improvements in combined operating ratios across lines of business and portfolios.

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RADD and RSL partner, delivering global digital risk assessment and risk management platform

Paul Mayles Founder and Technical Director of RADD Engineering Analytics and Consulting said “We provide fast turn-around account summary reviews for global commercial and industrial property accounts through the use of smart risk engineering and analytics. RADD needed a software platform that efficiently digitized client account information and to provide a customizable visualization and profile of their risks and exposures, whilst maintaining data security, flexibility and availability. With #RiskSolved, RADD is able to provide client’s real-time data aggregations across accounts or books of business with ease of updating as accounts change. Using #Risksolved our risk engineering analysts and engineers are able to process, analyse and summarise large volumes of risk engineering data into extremely decision-friendly and customisable reports from account level to detailed site survey. We provide significant data quality and efficiency improvements to our clients’ risk engineering and underwriting processes.

We spent several months reviewing potential #insurtech partners who could deliver services that met our needs. With RSL, we talked the same language with regards to driving efficiency and underwriting profitability. Their platform allows us to upload, analyse and aggregate multiple data sources such as geo-coding, value information, risk improvement recommendations and supply chain data. It is easy for our team of risk engineering analysts to use and we format for a client’s specific data needs with occupancy specific data sets and rating tools. Accessibility to this platform via the RADD app and on-line client portal are excellent.

RSL have a been a knowledgeable, flexible and pragmatic partner listening to our needs and being highly responsive. 

Debbie Baker Sales and Marketing Director of Risk Solved said “RADD is a great partner for Risk Solved. We have worked closely with their team over the last few months extending our core offering and enhancing the Artificial Intelligence capability.  This partnership extends our geographic footprint into the Asia Pacific region and demonstrates our capabilities to deliver in the global consultancy space”.

About RADD

RADD operations combine both risk engineering analytics for the global insurance and corporate market, as well as site based consulting in Asia and the Middle East. RADD Engineering Analytics delivers smart risk data analytics to Underwriters, Risk Engineering Managers, Brokers and Corporates on a fast turnaround basis for commercial and industrial property accounts. RADD Consulting provides location level risk analysis by experienced risk professionals.  

RADD uses its experience of the region to identify and quantify risks at industrial and commercial locations, mitigating project risks and assists in developing and mitigating loss prevention and risk management strategies.

About Risk Solved

Risk Solved was launched to the insurance market in 2016 to provide a global digital risk management platform. The RSL platform has inbuilt AI, helping our customers to improve their risk assessment and recommendations, delivering unique insights and profitability across schemes classes and full portfolios. Providing a true cross class platform, accessible from Phone, Tablet, Laptop or Desktop device. Our customers include a number of Tier 1 Insurers, MGAs, Brokers and Consultants providing services to UK and global markets.  For further information see www.risksolved.com or email marketing@risksolved.com.

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Risk Solved invests for Growth with Board restructure and recruiting Debbie Baker as Sales & Marketing Director

Jason Moseley, newly appointed Managing Director of Risk Solved said “We have invested heavily in re-engineering our Self-assessment and Survey modules over the last 18 months now is the time to invest in taking the product to market. Debbie has the both the pedigree and experience to help us achieve this with her many years of experience in the Insurtech sector and also joining at a time when we have successfully secured the long term commitment of a tier 1 insurer and consultancy practice at the end of 2018”

Debbie comments “Risk Solved’s digital risk management platform enables insurers brokers and MGAs to manage their exposure to policyholders’ transferred risks. Our customers have not only seen on average a 10% improvement on underwriting profitability, they are also gleaning unique data insights. As we all know, data is the new ‘oil’. I have been working with Jason and the team over the last couple of months and I am delighted to join the board.”

The appointment of Debbie follows a restructure of the team at Risk Solved with Chris Rhodes changing his role of non-exec director to become Chairman and Thomas Coles moving to become a non-executive director of Risk Solved.

Risk Solved was launched to the insurance market in 2016 to provide a global digital risk management platform enabling carriers to improve their portfolio profitability. Our customers include a number of Tier 1 insurers, MGAs, Brokers and Consultants providing services to UK and global markets.  For more information and insight go to www.risksolved.com or email marketing@risksolved.com.

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