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Willis Launches New Enterprise-class Risk Management Information System

Source: Willis

Posted on 15 Apr 2010

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Global insurance broker Willis Group Holdings announced the launch of Willis DataWizeSM, powered by Riskonnect(R), an enterprise-class Risk Management Information System (RMIS) that gives companies of all sizes a better way to track, manage and control their risks and achieve better outcomes.

The product of Willis' strategic alliance with Riskonnect, Inc., a leading independent provider of risk management technology, Willis DataWizeSM responds to growing demand from clients for a technology solution that enables them to make better risk management decisions. Available to Willis clients in North America, Willis DataWizeSM is a natural extension of the consulting services offered by the Willis Strategic Outcomes Practice, the claim advocacy, risk control and data analytic resource of Willis North America.

“Willis focuses all of its attention on being the best advocate possible for our clients,” said Don Bailey, Chairman and CEO of Willis North America. “That means thoroughly understanding their business issues and industries; being able to develop solutions with the best markets, price and terms; relentlessly delivering quality service, and getting claims paid quickly, and doing all of that with the utmost integrity. That’s the Willis Cause, and that’s what sets us apart as the most trusted client advisor and advocate in our industry.

“Willis DataWizeSM embodies that commitment, and serves as the perfect complement to our existing analytical and consulting services,” Bailey said. “Clients asked us for a technology solution that would allow them to manage all of their risk and exposure information in a way that identifies trends, helps mitigate losses, achieves better claim outcomes and ultimately leads to lower costs and greater value. Willis DataWizeSM delivers on all counts.”

The Willis DataWizeSM system helps clients track all of their loss, exposure and insurance policy data, and provides the tools to turn that data into actionable insights. The system brings greater speed, efficiency and integrity to the loss control, claim and placement processes, and identifies trends and measures outcomes that deliver meaningful cost savings to the client. Willis DataWizeSM features dashboards, scorecards, automatic information alerts, a cost allocation system, and sophisticated modeling and analytics capabilities that help achieve sustainable and measurable improvements to the entire risk management process.

The system is scalable to meet the requirements of the most demanding global enterprises, but it can be configured to meet the needs of small-to medium-sized businesses as well. Competitively packaged with Willis’ claim, risk control and data analytics consulting services, Willis DataWizeSM can help small risk management departments achieve better overall results.

“Willis DataWizeSM is a premiere, integrated software solution enabling Willis clients of all sizes to benefit from enterprise-class risk management technology that, to date, has only been available to large commercial accounts,” said Bob Morrell, CEO of Riskonnect. “Bringing the advanced technology of cloud-computing — the engine behind Willis DataWizeSM — to the risk management industry enables disparate data to be consolidated and integrated without the need for expensive and time-consuming IT development projects.

“Willis is a proven leader and innovator in risk management services. Matching their extensive capabilities and expertise with Riskonnect's enterprise-class risk management information system technology creates a really exciting offering that has been lacking in the marketplace, particularly in the middle market, where Willis has a strong presence,” Morrell said. “We’re delighted to be partnering with them.”

Willis DataWizeSM, powered by Riskonnect®, will be showcased at the Risk and Insurance Management Society, Inc. (RIMS) 2010 Annual Convention in Boston, April 25 — 29. Visit the Wills booth (No. 1913) or the Riskonnect booth (No. 509) to see a live demonstration.

To learn more about Willis DataWizeSM, please visit Willis DataWizeSM is a service mark of Willis North America Inc.