Here is the way that ReSure addresses these problems:

Your insurers keep asking for more, new and different information
You can easily customise the information collection templates – we call them Risk Classes – to add, remove or change the data that is collected. When you alter a Risk Class template, the changes refect immediately throughout the entire system, so you don’t need to re-design data collection forms or reports.

Your colleagues are overwhelmed by the amount of data they need to provide
The solution is to make it as easy as possible for your colleagues to supply the data. We have included features data validation rules; showing the data supplied from previous years; automatic indexation of values; and definitions and examples that are always visible at data entry time. On line, context sensitive help about how to use the system is always available. For organisations that keep data in spreadsheets, we provide a spreadsheet export/import capability so that data may be entered or updated in bulk. You don’t need to ask your colleagues to convert measurement units. Currencies and any other measures, such as building floor area, can be captured in the units that they commonly work with and then converted at any time to any other unit – automatically.

The information you receive is incomplete, late and of doubtful accuracy
ReSure use the concept of responsible parties – the people who are actually assigned the task of providing data on risk exposures and asset values. When you commence the renewals process, ReSure advises all responsible parties exactly what information they are being asked to provide. It notifies them of the deadline dates for completion, and shows their progress in providing the required information. It can automatically follow up incomplete or late responses. As risk manager, you can track online the progress that each user is making in completing their assigned tasks.

It takes a lot of time and effort to collate and summarise the data into a useful form
Even if you use electronic means such as spreadsheets to collect your data, there is still the problem of consolidating it, including the removal of duplicated or redundant information, and managing different versions of the same data. ReSure eliminates completely the error-prone collating and summarising processes. Because all of your data is captured in real time in a well-engineered database, it never needs to be collated. Conversion of measurement units means that you can capture data in any currency or measurement unit and convert it automatically to any other currency at report time. Reports have “drill-down” capabilities, so you can view high level summaries or drill down to the finest level of detail. You can download your data in spreadsheet format for analysis, or for preparing executive presentations, then load the results back to ReSure to share with others.

There is often confusion about who has what version of the information
This common problem arises because of the difficulty of controlling different copies – especially electronic ones - that are received from or sent to different people at various times. Because ReSure has one central database, you are never in doubt about what version of data you or others have – it is always current. Moreover, the Periods feature allows you to “freeze” a snapshot of a set of data “as at” a particular date, so that it cannot be altered, yet the database can continue to be updated.

There is no single, secure place where you can store everything and retrieve it easily
ReSure is a central repository where you can keep everything that is relevant to the renewals process. You may already have an area on your Corporate Edition network for doing this – but is it able to be accessed and shared by all the parties who have a stake in the renewals process? For example, what if your brokers and insurers could directly access the database to update their information about new sites that you are operating at; updated values of current assets; and new business activities. And, at the same time, they could post copies of policy wordings, surveys, valuations, and other documents. It is this shared collaboration between all of the stakeholders that makes ReSure different from other kinds of systems. Importantly, there is no extra cost for this information sharing – we don’t mind how many authorised people access the system.

Sharing information means sending documents in hard copy, or by email with its attendant security risks
The increased depth of information required for today’s markets means that commercially sensitive information is being more widely distributed than ever before. The security issues with hard copy and email are well known. Imagine the consequences if your renewals information was inadvertently broadcast by email to every person listed in your address book. Unlikely? It’s what many of the common email viruses do every day. Web-based databases are far more difficult to attack. That is why on-line banking works so well. By controlling user access rights, together with strict physical and electronic security, ReSure keeps out unwanted intruders, and restricts access to your valuable information to those who you decide are permitted to view it.

You cannot easily control who has access to important commercially sensitive data
Web-based databases not only provide better information security than hard copy or email, they are also make it easier to manage who has access to the information. The access security system in ReSure can be finely tuned - for example, it could be used to restrict access to one underwriter to view information about one Risk Class in one country and one Division of your company. The comprehensive audit trail in ReSure allows you to track who has accessed the information, when they did, and to find out what reports were run or data changes made.

Your IT department says it’s too costly and difficult to build a renewals system
They are probably right! However, the costs of developing and operating ReSure are shared by all clients, so it is much more economical than building it yourself. ReSure Online requires no capital investment in hardware or software, and no internal IT infrastructure or support. All that is needed is a PC and a connection to the Internet. It is a secure, public access system, similar to online banking. Flexible payment options are available, but the most popular for ReSure Online users is a fixed monthly fee.

If you change your insurance arrangements, you may need to start all over again
When you use ReSure, you own and control all of the data. You have total independence from your brokers and insurers. Over time, you will build up an investment in highly valued information that will enable you to more choose your broker on the quality of professional advice that they provide, rather than their ability to process mountains of paper.

If you would like to know more about ReSure, or to arrange a demonstration, please contact us.

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