Global risk technology influencers named

Insurance Daily reports.

According to the data, which is based on the responses of more than 400 risk professionals across 57 countries, the number one benefit and driving force behind the use of risk technology is accurate and reliable data.

However, the report goes on to highlight compliance as an emerging benefit of using risk management tools. Aon eSolutions CEO Kathy Burns comments: “Compliance is a relatively new topic in the risk management industry, and as more companies explore cloud offerings to store and report on their organisational data, compliance may well make an appearance in the top 10 in our next survey.”

According to Bradenton.com, the Aon Global Risk Technology Survey's top 10 benefits of technology are: accuracy and reliability of data; automation of processes; data consolidation and management; management reporting improvements; risk management process improvement; ease of access to data from one location; communications improvement; increased awareness; total cost of risk reduction/management; and auditability.

The report also reveals a key trend - more organisations are now closely tracking return on investment for risk technology tools.

For example, more than 25% of respondents said they expect to save up to $50 000 per year from using risk/insurance and claims technology.