Insurance Business ReviewNOVEMBER 20248IN MY OPINIONRisk Management Information Systems (RMIS) are instrumental for managing claims. However, often times RMIS are difficult to use, as they are fraught with many iterations of work around and modifications. This makes for a poor user experience for the people in the field reporting claims into the system and for the adjusters working daily to process the claims. These costly inefficiencies must be eliminated by either overhauling or replacing the RMIS. This article will discuss some important considerations when deciding whether to overhaul the existing RIMS or replace it completely. There are some drawbacks and benefits to both overhauling and replacing your RMIS. When overhauling the existing system, it is sometimes difficult to unwind the tangled mess of years of disjunctive modifications. It is like deciding to fix up an old house where the previous owners hacked their way through ten years of DIY projects--the doors do not close flush, the moldings are not straight, and the ceiling fan keeps falling down. Moreover, when you start one repair it uncovers other problems that need to be addressed. On the other hand, the benefits of overhauling the existing system include less cost in the short term and it allows for gradual changes without having a large disruption in service. Conversely, the benefit of replacing the RMIS is that you get to tear the whole house down and rebuild it exactly how SHOULD YOU SWITCH RMIS PROVIDERS?The benefits of overhauling the existing system include less cost in the short term and it allows for gradual changes without having a large disruption in serviceBy Grant Reichert, Director of Risk Management, Camden Property TrustGrant Reichert
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