Passionate About Technology
If you overheard the passion and enthusiasm that Brit Waters uses to describe his most important business technology, you would immediately assume it was the latest smartphone or tablet. But it’s not Apple or Google that generates so much enthusiasm, it’s the Riskonnect risk management platform.
“Riskonnect revolutionized how our department does business. This system changed the way we gather, analyze and communicate information. It’s made us more efficient, effective and reliable,” said Waters, Manager, Risk Management at Avery Dennison Corporation. “These are not bandages, but complete solutions.”
Avery Dennison is a multinational company offering labeling and packaging materials and solutions whose applications and technologies are an integral part of products used in every major market and industry. The company operates in more than 50 countries with over 26,000 employees and $6 billion in revenues in 2013.
“Riskonnect revolutionized how our department does business. This system changed the way we gather, analyze and communicate information. It’s made us more efficient, effective and reliable. These are not bandages, but complete solutions.”
– Brit Waters, Manager, Risk Management, Avery Dennison Corporation
The company partnered with Riskonnect, the provider of premier, enterprise-class technology platforms. In just 18 months, the system not only revolutionized the department but also delivered wide-ranging value for plenty of other parts of the organization. Those departments utilize the system to manage financial assets, keep track of vehicles and will soon oversee facilities requests.
‘The Simplicity is Unreal’
For global property insurance renewals, Riskonnect changed the way Avery Dennison collects data on its 300 manufacturing facilities, warehouses and other properties around the world. Gone are the days of sorting through hundreds of separate emails with information about the properties and merging hundreds of separate spreadsheets into one.
Not only was the old process cumbersome, it left lots of room for error.
With Riskonnect, the process is automated. It sends emails to the more than 100 individual contacts and the users insert the information into the Riskonnect portal themselves — something that makes Waters’ life a whole lot easier.
“I hit a button once and it runs the report for me. The simplicity is unreal,” he said. “Plus, it gives us better information that we can communicate to our insurance carriers, and gives them increased confidence about the risks they’re insuring.”
Waters said it’s a big time-saver. “Before, the process could take up to three months, and now we get it done in less than a month.”
One thing he’s particularly excited about is the configurability of the portal. If he wants to customize it, he can easily do so without going through a computer programmer or contacting an account executive.
“It gives you the power to set up the system as you need it, not as someone else envisions you need it,” said Waters.
The Riskonnect portal is also the primary source for reporting workers’ compensation claims. Again, the Riskonnect system simplified the process. Before, employees had to call a 1-800 number or fill out a long form and fax it to the Third Party Claims Administrator (TPA). Now they just log on and use the claims reporting portal, which is equipped with drop-down menus and other efficiencies that help expedite the process.
“We take the guessing game out of their hands,” said Waters. “In a matter of minutes, they get a confirmation email that the claim has been submitted to the TPA.”
Through the Riskonnect dashboard tools, Waters and his department can learn a lot about trends in workers’ comp claims. The system tracks claims year-to-date, costs, causes of injury and even the top body parts that are hurt. Then risk management communicates that information to local managers to make sure that safety-and-prevention programs are appropriate and will help reduce the amount of claims and their costs.
“The Riskonnect dashboards layout all this valuable information in easy-to-use tables and charts, making it simple for us to study the data and implement necessary safety changes,” said Waters.
ROI on a Values Collection Module
At the start of the process, Waters never imagined just how many other departments would use the tool. The finance department uses the system for asset management. The fleet administrator uses it to have drivers sign off on its manuals. Even the facilities department is jumping on board, using the Riskonnect system to identify when properties need repairs to big-ticket items like roofs or windows.
The company is also looking to report global property claims, transit claims and employers’ liability claims through the platform. It’s even evaluating if it can use it on the shop floor with health-and-safety team members having easy access to the system via iPads.
”The Riskonnect platform can help many different departments with a wide variety of tasks,” said Waters. “It’s really making risk management a much more strategic contributor to the company.”
“I hit a button once and it runs the report for me. The simplicity is unreal,” Waters said. “Plus, it gives us better information that we can communicate to our insurance carriers, and gives them increased confidence about the risks they’re insuring. Before, the process could take up to three months, and now we get it done in less than a month.”
Waters’ enthusiasm for the product is clear, but he’s not alone. End-users are raving about how easy, intuitive and customizable it is. For example, training end-users used to consist of holding approximately 15 different webinars to walk everyone through the process. Now, it’s accomplished in one easy-to-understand mass communication through the Riskonnect portal.
The end users even helped Waters and the Avery Dennison team add efficiencies that improve the entire process. On the property reporting side, they suggested adding an attachment tool for adding spreadsheets – so the information is easy to find the following year.
“It’s amazing when you give the end users a product and you see how they come back to you with advice that you never even thought of,” said Waters. “That speaks volumes for the system.”
In just 18 months, Riskonnect changed the way Avery Dennison does business — something Waters can’t hide his enthusiasm about.
“I don’t consider them just a vendor,” said Waters. “I consider them a long-term strategic partner.”
This article was produced by Riskonnect and not the Risk & Insurance® editorial team.
Managing Risks and Property Exposure, the Case of Avery Dennison
Collecting and managing exposure information for renewals is a challenging process. Whether it’s the number of locations, the individuals supplying the data, or the volume of it all, for many the process is very time consuming.
If you have any of these struggles, join Riskonnect and our special guest Brit Waters, Manager, Risk Management from Avery Dennison and learn how to simplify the process and improve data quality for better business decisions. The days of emailing and consolidating spreadsheets are over. Spend your time on data analysis instead of data collection.
In this webinar, you will hear about data challenges, how risk management technology improved Avery Dennison’s business processes and has enabled the Risk Management team to collaborate with the Global Real Estate team. See how data collection within an integrated risk management work platform improves not only property renewals processes, but also business continuity planning and disaster recovery.
This Insights Webinar was produced by Riskonnect and not the Risk & Insurance® editorial team.
The Missing ERM Puzzle Piece
The risk management community has talked about the benefits of enterprise risk management (ERM) for years. But an honest assessment of most ERM efforts concludes that execution remains exceedingly difficult.
Finally, the latest breed of risk management information systems (RMIS) such as Willis DataWize, powered by Riskonnect, makes these much-talked-about benefits possible. DataWize empowers risk managers to support enterprise-wide needs, such as risk identification and assessment, crisis response and asset tracking in addition to traditional claim and policy information management.
The new capabilities increase a risk manager’s strategic value to their company and are even earning them board-level exposure through new reporting and dashboard capabilities. George Haitsch of Willis understands the importance of this, both as a former risk manager and through watching the efforts of past colleagues and current clients.
“I’ve seen the new RMIS systems have a significant impact on their deliverables and frankly on their careers,” Haitsch said. “A risk manager can facilitate a high-level conversation with insightful data and analysis, instead of walking into a meeting with a four inch thick TPA report and a spreadsheet on the cover.”
“It takes work off your desk. It frees up your time to do more strategic things. It’s hard to convey just how much the system alleviates many pain-points experienced by risk managers.”
– George Haitsch, Executive Vice President, North American Practice Leader, Willis Global Solutions
Not all RMIS technologies are created equal, nor can they have the same impact upon a risk manager’s success. Haitsch, now serving as practice leader, Willis Global Solutions North America, illustrated the point with a recent client meeting.
“I went into a meeting with a client who was a longtime user of another RMIS system, and when the client started to see the capabilities of Willis DataWize, an ‘ice-cold courtesy’ meeting turned into an ‘I gotta get that’ meeting in 30 minutes,” he said.
What won that risk manager over? Ultimately, it was the unique capabilities inherent in Willis DataWize–capabilities that would enable this client to transcend traditional policy tracking.
Some of the most important benefits Haitsch sees Willis DataWize, powered by Riskonnect providing his clients include:
Data Collection and Tracking: Any system is only as good as the data that it collects. Willis DataWize enables risk managers to easily configure fields and create custom web-based forms that can be completed by users in the field. Automated tracking, reminders and data controls help to ensure accurate, clean data. Information for renewals can now be collected in weeks, not months, and injury reports can easily be submitted in real time.
“It takes work off your desk. It’s almost as if the system is functioning as a member of your team,” Haitsch said. “It frees up your time to do more strategic things. It’s hard to convey just how much the system alleviates many pain-points experienced by risk managers.”
Underwriting Differentiation: One of the most important responsibilities of a Willis broker is to represent their clients to the underwriting community. “Willis is always working hard on our clients’ behalf to differentiate their risks to the underwriting community,” said Haitsch. Willis brokers leverage the quality data provided by DataWize to support those efforts.
“When a company can present detailed, timely information about their risk profile, it certainly helps build credibility and trust in the eyes of an underwriter,” Haitsch added.
Global Integration: DataWize unifies global organizations with one fully integrated system. Most RMIS tools cannot be integrated on a global risk platform. Previously, Fortune 50 users had to buy separate systems from different providers in Europe and patch them together. A risk manager must have a RMIS solution that matches their global footprint.
Board Level Reporting: Risk managers are utilizing DataWize’s easily configured dashboards and reports to produce highly valued information for executive management and directors.
“Board reporting components are simply spectacular!” asserted Haitsch. “The system is truly transformative to a risk manager because it enables them to provide the information that senior executives and directors crave. I’ve seen multiple clients become valued facilitators of board level strategic discussions.”
The Willis Approach
Willis’ primary goal is to empower its clients to be successful when it comes to risk, and it accomplishes this goal by remaining focused and partnering with leading companies to provide best-in-class complimentary service to their clients. The Riskonnect partnership, launched in 2010, demonstrates how providing enterprise-class risk technology helps Willis stand out from their competition.
“Board reporting components are simply spectacular!” exclaimed Haitsch. “The system is truly transformative to a risk manager because it enables them to provide the information that senior executives and directors crave. I’ve seen multiple clients become valued facilitators of board level strategic discussions.”
Ultimately, Haitsch appreciates Riskonnect’s positive response when his clients have asked for custom solutions and RMIS innovations. He said,
“They always want to get to YES.”
Haitsch knows that risk managers appreciate the value of people saying “YES,” from underwriters and TPAs to property managers – all the way up to executive leadership.