LogicManager’s ERM Charter provides organizations the foundation and framework needed to build an ERM program.
LogicManager’s Enterprise Risk Management software for insurance companies allows providers to measure the health of their organization and track progress toward achieving corporate objectives. LogicManager will track business metrics in real-time, revealing the most critical Key Risk Indicators and providing ammunition for risk based decision making.
Effective insurance enterprise risk management needs to measure strategic processes, such as renewals, claims and customer service, from multiple business areas and over a long period of time. In one glance with LogicManager’s ERM software and risk management information system, you’ll be able to track a variety of metrics, both internal and external to your insurance organization, to clearly see which business metrics correlate with better business performance and which risks require immediate attention.
- Comply with Own Risk and Solvency Assessment (ORSA) through LogicManager’s Enterprise Risk Management framework for insurance companies to identify, assess, mitigate, monitor, and report on material and relevant risk associated with insurers’ current business plans.
- Meet NAIC Model Audit Rule requirements by identifying events that may have a material impact on financial statements and respond with controls to provide reasonable assurance that misstatements do not occur.
- Provide tools that reduce the work that every front-line manager does every day. Each manager uses their own SMART metric for their own work, and LogicManager does the heavy lifting of connecting and rolling up the information to subsequent levels.
- Manage productivity of independent agents, brokers and direct sales forces, monitoring channel profitability, and submission quality.
- Gain visibility into claims cost per premium dollar to contain cost and control reserves.
- Reveal the root cause impacts to inquiry timeliness, accuracy and accessibility to predict customer satisfaction.
Ensure all your vendors are meeting expectations and staying up-to-date with all applicable compliance requirements.
Manage contracts with renewal tracking, document management and engagement of key individuals across silos.
Ensure HIPAA compliance and understand any gaps or vulnerabilities within your existing systems.
See it in Action!
Founded with a focus on customer satisfaction, risk management expertise, and cost effective innovation, LogicManager is the leading provider of ERM software.
Interested in learning more? Reach out to see a live demonstration of our insurance risk management software, or request a pricing quote.