As always, it was a pleasure to attend the annual Risk & Insurance Management Society’s (RIMS) annual conference, this year in LA. While my own stint at the show was limited by some personal matters, I did have enough time at the show to see some recurring themes.
Here are some of this year’s talked-about trends:
Mobile Risk Management. While it may seem like the industry is behind the curve in accessibility, make no mistake; companies are leading the way in terms of finding ways for insurers and risk management to manage business on a more virtual basis. Once relegated to desktops or virtually accessed websites, software management systems are now finding new homes on tablets and smart phones.
Integrated care in workers comp. It’s an idea I’ve seen taking off the last few years, but when I sat down with Travelers Insurance’s Jim Wucherpfennig, Vice President, Workers Compensation, Claim at Travelers, I saw just how comprehensive and cost-efficient the practice can be. Travelers does it through their new ConciergeClaim Nurse program, which provides “a Travelers-employed registered nurse is physically located in a preferred medical clinic to facilitate access to appropriate treatment for injured employees and streamline the medical management process.” What it does is creates that bridge between the employer and the employee, allowing for a better return-to-work result and fewer claim costs.
A more educated risk manager. It’s a conversation I had with a number of senior-level risk managers; there’s a need and a movement toward not just continuing education for the risk manager, but for training internally. Companies should no longer assume the risk manager comes ready-built for the task, and risk managers should not assume companies have considered training. A more active pursuit by both risk managers and companies is being called for. It will be interesting to see the resources companies are willing to invest in order to shore up their risk management departments.
What were your takeaways from this year’s RIMS show?