HSBC uses a web based system to help manage over 1,000 policies world-wide

Risk managers have heard how a web based risk management system could benefit and improve their working practices.

The subject was raised by Effisoft at a risk management seminar in London.

Altogether five subjects were covered including renewal data gathering, risk control, premium allocation, policy management and incident tracking/root cause analysis.

Alan Yeats of HSBC spoke about using the web based system to help manage over 1,000 policies world-wide, and Iain Hovell explained his roll-out of an incident tracking system to over 600 managers.

After overcoming people’s initial inertia to change, the move from a paper intensive incident reporting system to a web based system met with company wide approval, said Hovell.

Rolls-Royce’s also discussed how the software had helped in discussions with underwriters.

David Thomas, managing director of Effisoft in the UK, said a similar seminar would be run in late September.