AMRAE expands IT tool evaluation report to further aid members

The 2012 issue of Panorama des Systèmes d'Information de Gestion des Risques widens its analysis by introducing new criteria for the evaluation of IT tools and adding 11 new product providers to those under the microscope. In total, 30 companies have submitted answers to the consultation sent out by AMRAE. The information is designed to help risk managers keep abreast with the latest trends in IT systems. The study was presented by the association in Paris, and an English translation should be made available by the end of the month. A PDF version can be downloaded for free from the following link: http://www.amrae.fr/amrae/publications.html.hideThe document's information will aid risk managers to choose a system that will collect, process and report information on risk management and insurance activities within their companies. Such knowledge is vital because most IT experts are not well versed in the technicalities of risk management, said François Beaume, the head of AMRAE's Information Systems commission. “In the past, there were no specific IT systems for risk managers,” he pointed out. “That means that IT departments do not have a deep knowledge of the kind of data and treatments that are requested by risk management activities, or the kind of analysis that risk managers want to have.” AMRAE was able to widen the scope of coverage in this year's study thanks to a partnership with Accenture, the consulting firm. The authors have been able to evaluate more functions than in previous years and consider products that are sold in the global market, rather than just those produced by French firms. Although risk management information systems, or RMIS, may not have changed greatly over the last year some progress has been made. “Improvements have been made in the past year in areas like compliance, quality and internal control,” said Jean-Laurent Schwartz, a senior manager at Accenture in its risk management division. Mr Schwartz said the market trend is for clients to look for customised solutions, according to the particularities of their companies or the industries in which they operate. Some programmes are now capable of offering this flexibility, Mr Schwartz pointed out. Others deliver standardised solutions for companies that have less complex needs and would rather implement a simpler and less expensive system. “There's often a common title for risk managers, but the reality of our scope of activities can vary,” said Mr Beaume, who is also the risk manager at Dalkia, the energy services firm. “Some have more focus on insurance, and others on ERM in a broader sense. So our IT needs tend to be diverse too.” Programmes that focus on insurance solutions tend to dedicate more resources to issues such as the quantification of insurable risks, premium management and the implementation of business continuity plans. Those that have an ERM bias stress subjects like corporate governance, risk mapping and compliance. Therefore the experts recommend that risk managers properly identify the needs of their companies in order to chose the right solutions and keep expenditure on IT systems under control. “The cost will depend on the scope of the project and the level of customisation that the buyer wants,” Mr Schwartz said. Companies can also restrict RMIS costs by adopting programmes that can be used by several departments with responsibility for risk. “We have seen a growing number of clients where departments like audit, internal control and risk management combine to purchase a single IT system for all of them,” said Mr Schwartz.

AMRAE expands IT tool evaluation report to further aid members

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