Press Releases and Announcements

Microsoft examines Change and information using Risk Labs RMIS technology

January 17, 2001

Risk Management Information Systems are flexible computerized information management systems that allow manipulation of claims, loss control, and other types of data to aid risk management decision-making.

Access to business information and the consequences of poor or mishandled information have never been more important. Risk Managers are increasingly expected to sustain a thorough understanding of a broadening range of business risks and regulate those risks through risk mitigation and risk financing programs. An effective RMIS enables the Risk Manager to efficiently manage individual events that occur in the organization, and to detect emerging patterns of events in a way that supports proactive decision-making.

Microsoft Risk Management implemented a new RMIS as part of a broad strategic initiative to re-engineer its business risk management processes and establish a systems support structure for innovative risk financing. Risk Labs RMIS technology was selected by Microsoft for a number of reasons, including:

• Risk Labs products support robust integration of such business exposure data as facilities listings, personnel data and business unit organizational structures, thereby facilitating risk analysis across many dimensions of business operations;
  
• Risk Labs leverages the popular Microsoft Officeâ suite of applications for publishing reports and editing text, thereby reducing the time needed to train employees in using the system,
  
• Risk Labs products are highly configurable and Web interface accessible, thereby allowing Microsoft to customize the user interface and extend RMIS access by means of its corporate intranet;

Most large corporations are now identifying Risk Management Information Systems as vital pieces of their information flow. Many of these organizations have begun to equate the speed and accuracy of their information flow with their ability to compete in the market. Risk Management Departments routinely interact with business units throughout the organization, including production line managers, sales managers, legal, facilities managers, corporate security and information technology support, which puts it in a natural position to enhance the overall flow of corporate information through improved systems. By doing so, the knowledge and information possessed by the Risk Manager, the RMIS, and the entire Risk Management department flows properly through the vital information corridor of the entire corporate structure.

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