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Risk Management Systems & Online Resources

Spotlight Report December 7, 1998

Vendors Q - R

Risk Enterprise Mangement Ltd. (REM)
Risk Laboratories L.L.C.
Risk Technologies Inc.
RISKTRAC Inc.
RSKCo


Risk Enterprise Mangement Ltd. (REM)

59 Maiden Lane, New York, N.Y. 10038; 800-347-2599; fax: 800-634-0425

Risk management systems since: 1991.

Software products:

Risk Options.

System requirements: IBM-compatible PC system; operates in Windows. Online system.

Customization optional.

First installation: 1991.

Total installations: 200; 40 in corporate risk management departments.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, specialty lines.

Features: Loss development, loss trending, report generation, data analysis, allocation of losses, downloading of databases, exportation of data to other PC formats. Optional modules include consolidation of data from multiple insurers; REMNET.

REMNET.

System requirements: IBM-compatible PC system; operates in Windows. Online system.

Customization optional.

First installation: 1991.

Total installations: 200; 75 in corporate risk management departments.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, specialty lines.

Features: Claims administration; payments; reserves; recoveries; interactive adjusters' notes; diary. Optional modules include Risk Options.

User support: User groups/meetings*, onsite training*, telephone assistance 12 hours per day*, client services center*.

Clients: 75 total.

Branch offices: Brea, Calif.; Orlando, Fla.; Atlanta; Chicago; Florham Park, N.J.; New York; Philadelphia; Nashville, Tenn.; Milwaukee.

1997 revenues: $95,852,000 total.

Officers: Michael Riney, president; Tim Callahan, CFO; Joseph Campbell, executive vp; Barry Belknap, senior vp-sales; Matt Craig, vp-sales.

Contact: Bill Cassidy.

* Included in system price.

Risk Laboratories L.L.C.

278 N. Marietta Parkway N.E., Marietta, Ga. 30060-1456; 770-590-5173; fax: 770- 590-5174

Risk management systems since: 1994.

Software products:

RiskFolio 3.3.

Price: varies.

System requirements: IBM-compatible PC system; operates in Windows 95 or Windows NT (32-bit).

Customization optional.

First installation: 1994.

Total installations: 110; 90 in corporate risk management departments.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, all other claim and coverage types.

Features: Database server location options; interface with internatl applications; utilize company Internet/intranet, e-mail and faxing; integration with output options spreadsheets; word processing; multi-user, multi-location, remote access capability; color graphics/charts; document imaging; asynchronous processing; comprehensive help system; standard and ad hoc reports; claims triangulation; loss development, trending and forecasting; premium allocation; budgeting; aggregate analysis of limits and retentions; program/TPA monitoring; cost-of-risk analysis; loss stratification; loss analysis; acquisition and divestiture analysis; program options analysis; self-insurance comparisons and analysis; contract and renewal negotiation; international program analysis; reinsurance/captive cession analysis; frequency and severity analyses; ``value as of'' analysis; executive information system; HTML/Internet reporting; policy/exposure tracking and management; incoming/outgoing insurance certificate processing and management; claims management for property, casualty and all industry-specific coverages; hierarchy, text and value data flexibility; claims reporting; workers comp first report of injury; litigation management; reserve and values history; notes/diary; scheduling; task creation; distribution and management; safety audit tracking; OSHA record keeping and reporting; data archiving; data integration, import, export, consolidation; EDI.

User support: User groups/meetings*, onsite training*, telephone assistance nine hours per day*, upgrades*.

Staff: 16 total, 14 professionals.

Branch offices: Marietta, Ga.

Officers: George B. Netherton, president; Robert C. Morrell, vp- research/development; Jim Gibson, assistant vp-client services; Hugh Nunnally, manager-data services; Tom Pickhardt, director-business development.

Contact: Tom Pickhardt, ext. 315.

* Included in system price.

Risk Technologies Inc.

2480 Highway 287 N., Suite 400, Mansfield, Texas 76063; 817-447-2197; fax: 817- 473-7610

Risk management systems since: 1988.

Software products:

RiskVision.

Price: $75,000 to $250,000.

System requirements: IBM-compatible PC system, Macintosh; operates in Windows, including 3.11, 95, 98, NT; UNIX, Novell.

Customized system.

First installation: 1988.

Total installations: 200; 150 in corporate risk management departments.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, injury benefits, hospital incidents, medical malpractice, accident and health.

Features: Claims administration; check processing; custom claim-input screens; laser check writing; vendor management; electronic transmission of 1099 information to IRS; electronic bank reconciliation transmissions and fund managment; custom reports; ad hoc report generation; report writer; data export/import to SQL/ASCII/Dbase/.WK1 files; remote access; portability to laptop PCs and laptop PC updates; reports to diskette; reserve worksheets; notes/diary routines; exposure information management; premium management; policy management; cost allocation; loss development; loss control and OSHA reporting/record keeping; state fee schedule verification and payment discounting; form letter generator. Optional modules include real-time integration with human resource systems; RiskVision EAS for customer-specific SQL query tools for reporting, analysis and graphing.

RiskVision EDI.

Price: $75,000 to $500,000.

System Requirements: Web-enabled browser and Internet access. Online system.

Customized system.

First installation: 1992.

Total installations: 150; 75 in corporate risk management departments.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, Longshoremen's and Harbor Workers Act, medical malpractice, injury benefits, hospital incidents, accident and health.

Features: Electronic data consolidation and conversion to client-specific formats; policy/coverage verification; data review, analysis, reporting via the Worlde Wide Web. Optional modules include real time interface with insurance comapany, TPA or client's database, integration with human resource systems.

User support: User groups/meetings*, onsite training*, telephone assistance 12 hours per day*.

Staff: 15 total, 11 professionals.

Clients: 250 total. Sold systems to 25 clients in 1997.

1997 revenues: 5% from hardware sales, 60% from software sales, 35% from software services.

Officers: Chuck Allen, president; R.J. Mallette, vp-product development/marketing; Ron Watts, vp-customer services.

* Included in system price.

RISKTRAC Inc.

230 Commerce Way, Portsmouth, N.H. 03801; 603-422-0444; fax: 603-433-4676

Risk management systems since: 1982.

Parent: Liberty Mutual Group.

Software products:

RISKTRAC LINKS.

System requirements: IBM-compatible PC system; operates in Windows. Online system.

Customization optional.

First installation: 1987.

Total installations: 1,700; 1,360 in corporate risk management departments.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, group short- and long-term disability.

Features: Claim inquiry; real-time access to adjuster notes; daily updates of claim and payment information; access to managed care rehabilitation nurse information; reserve changes and calculations; customized data capture with unlimited user-defined fields; communication; data consolidation; 36 standard reports; report scheduler; ad hoc reports, including graphics, downloads of data into word porcessing, spreadsheets and database formats. Optional modules include RISKTRAC EIS.

RISKTRAC SA.

System requirements: IBM-compatible PC system; operates in Windows. Online system.

Customization optional.

First installation: 1996.

Total installations: 150.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, group short- and long-term disability.

Features: Claim inquiry; data consolidation; 26 standard reports; report scheduler; ad hoc reports; customized data capture with unlimited user-defined fields; reminders; linking and storing of documents associated with claims; supports worldwide currencies.

RISKTRAC EIS.

System requirements: IBM-compatible PC system; operates in Windows. Online system.

Customization optional.

First installation: 1998.

Total installations: 100.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, group short- and long-term disability.

Features: Review claims and loss information; provides ability to drill-down into information to generate graphical/tabular presentation of claims information for single or multiple lines of business; trends and patterns in claims data; e-mail distribution of important-event notifications.

RISKTRAC.nxt.

System requirements: IBM-compatible PC system; operates in Windows. Online system.

Customization optional.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, group short- and long-term disability.

Features: Web-enabled RMIS products available through a browser, including claim inquiry, real time access to adjuster notes, daily updates of claim detail and supplemental information, monthly updates of financial valuations, customized data capture, standard reports and data consolidation.

User support: User groups/meetings, onsite training, telephone assistance 13 hours per day, online help system.

Branch offices: Portsmouth, N.H.

Contact: Alicia Rawnsley.

RSKCo

333 S. Wabash, Chicago, Ill. 60685; 312-822-2013; fax: 312-817-1638

Risk management systems since: 1996.

Parent: CNA Insurance Cos.

Software products:

Clearview.

Price: $12,000.

System requirements: IBM-compatible PC system; operates in Windows, including 3.1, 95, 98. Online system.

First installation: 1996.

Total installations: 815; 275 in corporate risk management departments.

Claims/coverages managed: General liability, property, casualty, workers comp, auto, integrated disability manangement, prior carrier data.

Features: Individual claims viewing; real time adjuster notes; loss development, including loss triangles; 19 standard reports; custom reports; drill down features providing analysis and supportive information for claims loss prevention, safety and loss control; customer-specific data can be input or imported into the database and accessed through the custom reoporting function; view and print location structures; communicate with adjusters directly through notes and e-mail; diary.notes. Optional modules include cost allocation module.

User support: User groups/meetings*, onsite training*, telephone assistance*, RMIS consultant*.

Staff: 70 total, 25 professionals.

Clients: 275 total. Sold systems to 150 clients in 1997.

Branch offices: San Francisco; Duluth, Ga.; Chicago; New York; Dallas.

1997 revenues: $791,800,000 total. $11,000,000 from risk management information systems sales and service, 100% from software sales.

Officers: Robert Kulbick, CEO; Thomas Donnelly, president; George D. Keebler, Virginia Keck, Randall Hollenbeck, senior vps.

Contact: Melinda Mitrovic, director-consulting services, 312-822-7465.


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