The COVID-19 crisis has had a major impact on organizations and risk management professionals. Whether it’s identifying an organization’s exposures or supply chain impacts, tracking claims and incidents related to the pandemic, or identifying business interruption costs, the information necessary can be overwhelming.
The RMIS industry has quickly responded to support its clients during this crisis. All of the major vendors have released tools to support their clients in managing its impacts.
Riskonnect released several new features to help customers address risks related to the coronavirus pandemic in real time. These capabilities include a coronavirus tracker to track the spread of the virus in relation to an organization’s business assets, claims workflow enhancements to help collect COVID-19 related incidents while maintaining existing intake processes, a stand-alone COVID-19 incident entry solution, and new safety audit and non-clinical rounding resources and checklists to assist healthcare professionals and hospitals in ensuring their facility is prepared to safely care for suspected and confirmed COVID-19 patients. These capabilities are made available at no extra charge to all Riskonnect and ClearSight customers.
Origami Risk developed several new solutions in response to specific challenges that its clients were facing related to COVID-19. Solutions include impact data visualization of COVID-19 data, location status tracking, employee exposure tracking, and incident-based content by location. Additionally, Origami added functionality to help clients in the health-care industry, including new COVID-19 diagnosis codes, track required personal protective equipment fit-testing data, and access to links to industry resources without leaving the system.
Ventiv Technology is offering clients free access to Ventiv Analytics with global pandemic–related data embedded to help make faster decisions. Clients can track their property exposures in their portfolios against the impact of the spread of the virus.
These are just a few examples of how the RMIS market has responded to support the risk management community. Its response to support its clients has been admirably swift. It demonstrates how quickly these vendors can respond and bring new solutions to the market and why the RMIS continues to be an extremely relevant and valuable tool.