University risk management departments are all about the details. Whether it’s dealing with insurance incidents and claims, Workers’ compensation, property insurance and loss, or vehicle management, it’s the university’s goal to harness those details to analyze, mitigate, and monitor risk.
And that’s where the right risk management software can be a game-changer. A strong risk management tool serves as a single repository, uniting the data systems of risk management’s key functions for greater accessibility, more automation, and more rigorous analysis. It transforms the fine details into holistic, actionable information you can use reduce — and even avoid — risk. And it helps you track and streamline processes with easier follow-up and new accountability.
Here are five ways risk management software can empower your university’s risk management department for better outcomes:
1. Streamline incidents and insurance claims
Robust risk management software makes receiving, tracking, and wrapping up accident and other incident claims simple. Online forms ensure gathering incident information is easy, convenient, and much faster than standard snail-mail processes. An electronic document library lets you download the right Certificate of Insurance or upload photos for insurance processing in a flash. Online history lets you know where each claim stands throughout the process, and which user input that information, so you know when to follow-up and when things are on the right track.
2. Power up efficient driver management
The right risk management software is the key to better driver management. Track the licenses for the staff who drive university vehicles and get notified of license expiration dates. Assign and document training for those who require specialized licensing. Cross-reference drivers with incidents to analyze safety patterns. Software helps driver compliance take the lead.
3. Ensure consistent coverage for medical professional liability
Universities with medical programs can strengthen their risk management through the right software. Track medical licenses and their expirations, as well as medical malpractice insurance certificates. Log expiration dates and set notifications for deadlines to help prevent coverage gaps. The software tracking and reminders save you time and keep you current, so you can focus on other tasks.
4. Improve the Workers’ Compensation claim process
Risk management software helps you stay in-the-know for workers’ compensation claims, from intaking that initial claim to convenient notes documenting the history of the claim. Improve communication and follow-through with the right information at your fingertips.
5. Strengthen loss prevention and risk mitigation with management reports
Gain a new, big-picture view into your risk mitigation efforts through the configurable reporting risk management software can provide. A flexible risk management system will let you report on any field, allowing you to create custom reports showing open and closed claims, new incidents, locations with high incident rates, and more. This information lets you see trends, make better decisions, and focus your risk mitigation efforts where they’re needed most.
Risk management software lets you spend time where it really matters
The right risk management software is designed to transform your manual, day-to-day incident, claim, and property risk tasks for greater efficiency, depth of information, accessibility, tracking, and accountability. Centurisk’s risk management software solutions and services are dedicated to helping higher education clients streamline their processes, so they can better mitigate risk and get more done with less effort. To learn more about Centurisk’s Risk Management Information System solution, click here.