Riskonnect
Enterprise Risk Management Processes Simplified

“Risk management departments, in general, are still type-cast in the one-dimensional role of insurance buying, claims management and hazard risk control,” says Bob Morrell, Co-founder and CEO Riskonnect. Morrell advocates for an enterprisewide risk strategy that is driven by the daily management of organizational risk, rather than by ‘reactionary’ risk management. As companies expand beyond geographic, legislative, and technological borders, managing risk across an enterprise becomes challenging. “There has never been a better time for risk management teams to proactively manage risk in a way that creates value for their companies,” Morrell adds. Combining the right technology and best industry practices, Riskonnect, the global risk management technology company headquartered in Kennesaw, Georgia, and with offices in Chicago, London, and Mangalore, delivers risk management solutions based on world-class cloud-computing architecture.

What does this mean for risk managers? Riskonnect’s solutions address the pressing challenges facing organizationstoday, such as how to provide them with knowledge of risk events in real time and with the ability to mitigate organizational risk through immediate action. “Riskonnect was the first company to recognize the potential of this cloud platform, and the benefits it could bring to the risk management profession,” said Morrell. Riskonnect offers an innovative approach to risk assessment, risk control, safety, claims, litigation, exposure data collection, policy management and more, while offering the highest standard for data security in the industry. “The flexibility and power of the Riskonnect platform allows our team to focus on specific client needs delivered via the risk management application itself. Riskonnect is wholly focused on providing the solutions our clients need, and we are able to offer innovations like full mobile capabilities, and much more at an unheard of pace,” he adds. Riskonnect’s products are being successfully used to help manage organizational risk across a wide variety of enterprises, from large multinationals to SMBs.

One of Riskonnect’s clients, a large international brewery, previously had little visibility into their total property insurance coverage. The brewery operated on a global scale, which added additional complication in terms of regional compliance needs, multiple reporting languages, and various currencies. Riskonnect offered this client a complete risk management work platform on which they unified formerly disparate departments from across the client’s global locations. Riskonnect provided the client with a fully integrated risk management platform on which they can easily understand and act on data trends. With improved visibility into their global organizational risk, the client is making more informed business decisions, and the risk management department is now positioned to add real value in furthering their organization’s goals.

Force.com allows Riskonnect to focus on specific customer needs delivered via the risk management application itself

“When any enterprise buys insurance, the underwriter evaluates the accuracy of the organization’s risk data and the company’s ability to effectively manage risk events. The more informed a company is about its risk, the greater the chance of a favorable premium outcome. Riskonnect greatly improved the quality of risk information our client can provide, and this saved money for the client while also helping ensure the organization is properly insured,” says Morrell. Going forward, Riskonnect plans to expand its global footprint and to strengthen its strategic partnerships. Riskonnect continues to offer risk management innovation designed to exceed the industry’s dynamic needs. With its growing international client base, Riskonnect is positioned to forever change the risk management industry. “We are changing the way organizations approach risk management,” Morrell concludes. “Riskonnect is reframing how global enterprises view risk.”