Hybrids. We hear the term nearly every day in many areas of life: the merging of traditional approaches with modern technologies to take things to The NEXT Level. A hybrid vehicle mixes gasoline-fired engines with electric power to improve fuel economy, reduce harmful emissions, and lower operating costs. Organizations utilize hybrid computing environments, fusing together on-site data center resources with cloud-based computing services to enhance scalability, performance, and operating cost structures. And many of us are returning to work environments that are combining traditional office configurations with work-at-home accommodations.
So, how have the new hybrid operational models impacted the bundled Risk Management Information Systems (RMIS) marketplace?
Historically, robust RMIS products that were needed to meet current global risk management challenges were not available in the bundled TPA marketplace. As a result, risk managers utilizing TPA services were not able to easily centralize and manage ALL of their applicable data or program-specific factors impacting their Total Cost of Risk (TCOR).
In present-day risk and claims management, the focus has been amended to also include outcome-improvement measurement and overall risk program performance tracking in our RMIS toolkits. Meeting current enterprise-wide risk management information challenges now requires flexible technology, resource agility, and a relentless drive for RMIS product innovation.
Through our partnership with Origami Risk, Gallagher Bassett has created a truly unique hybrid RMIS solution for our clients, carriers, and broker communities. Alongside core Origami RMIS software features, we utilize our claims expertise and internal data-science resources to integrate select proprietary computing tools into our LUMINOS RMIS products. Drawing from our repository of TCOR-management intellectual capital, we provide our own add-on suite of data benchmarks, scorecards, and AI-driven predictive analytics to deliver the actionable information required to drive superior claims outcomes.
Prevailing risk-management requirements demand accessible computing technologies that marry organizational information needs, traditional core RMIS feature sets, and the analytical tools necessary to successfully administer risk management and mitigation programs. Add in our wide array of Expanded Service offerings, and our best-of-both-worlds hybrid approach allows Gallagher Bassett to deliver exceptional, market-leading RMIS products to our TPA clients.
Interested in learning more about our hybrid RMIS model and how you can take your RMIS tools to The NEXT Level? Engage members of our Sales or Client Service teams or contact Jennifer Turner, SVP RMIS Solutions, at email@example.com.