Implementing the appropriate risk process starts with building a foundation that meets your organization’s objectives, but consistent maintenance of your risk policy can help define the value and significance of your strategy. In this session at RIMS 2021, Joseph Mayo, President of J.W. Mayo Consulting LLC, reveals how to implement a risk management process, along with his best practices from industry experience. Building a Foundation The foundation of risk management relies on the risk policy and governance mechanisms. Risk policy needs to define the organization’s risk appetite and tolerance. Once risk policy has been established, the governance framework can begin.
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Due to COVID-19, safety trends and protocols are rapidly changing every day. This session at RIMS 2021 cited several considerations that organizations should have on their radar as employees begin to return to workplaces across the nation. Speakers included: Michael Lorms, Risk Services Manager, Sedgwick Joseph Whitlock, Senior Advisor, Industrial Hygiene, EFI Global Communication COVID-19 safety training entails much more than providing masks and hand sanitizing stations. Communication is key. Even during scary and stressful conditions, organizations should focus on communicating what they do know at the time and make everyone aware that circumstances may change. It is helpful to
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With the ever-increasing role of technology in every aspect of our daily lives, driving your data story has truly become paramount to enhancing your business processes and delivering the right messaging. In this session at RIMS 2021, Steve Rhee, Chief Digital Officer at Gallagher, discusses major data trends in 2021 and how to implement them to optimize your customer’s experience. Five Data Trends Driving Business in 2021 Digital omni-channel and real-time data interaction is critical. Data exchange is now a two-way street. Remove friction and be where your customers are. AI and predictive modeling will drive customer personalization. COVID-19 has
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The use of video surveillance has become critical to successful risk management for every business and public entity. This RIMS 2021 session illustrated ways that video has become the new normal to help manage risk, defend litigation and mitigate damages. Speakers included: Seymour Everett, Partner, Everett Dorey LLP Caryn Siebert, JD, Vice President & Director – Carrier Engagement, Gallagher Bassett Surveillance video has become a risk management game changer. In-person jury trials are now being live streamed during COVID-19, the use of police body cam footage became influential in several cases like that of George Floyd and Jacob Blake, and
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Evidence-based medicine can help reduce medical risk, measure medical treatment quality and ultimately improve the quality of care of injured workers. In this session at RIMS 2021, experts from Gallagher Bassett discussed using evidence-based medicine to improve health outcomes and its adoption within the workers’ compensation industry. Guests included: Jeffrey Austin White – Senior Vice President Product Development, Gallagher Bassett Joe Powell – Senior Vice President Analytics, Gallagher Bassett Medical Treatment Practices are a Black Box One of the most elusive goals in managing workers’ compensation claims is determining which claims are likely to go off track. This can ultimately
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While it will take time to consider the full impact of the pandemic, early claims data has allowed us to get a picture of its effect on the industry, including the makeup of COVID-19-related claims. In this session at RIMS 2021, experts discuss COVID-19’s impact on the claims experience, both in the occupational and non-occupational space. Guests included: Bryon Bass – Senior Vice President, Disability and Absence Practice & Compliance, Sedgwick Max Koonce – Chief Claims Officer, Sedgwick COVID-19 Claims Trends Non-occupational workforce absence includes short-term disability programs and paid leave programs, required at the statutory level or offered as
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The 365 day-a-year renewal cycle can become a perpetual hamster wheel, which picks up speed somewhere between four-to-six months out from the renewal date. Inevitably, the short-term needs can overtake the opportunity for future planning. The renewal process is time consuming, which often does not allow the ability to be strategic. Many feel that being strategic is aspirational, but the time just is not there to accomplish those good intentions. In this session at RIMS 2021, Louise Pennington from Willis Towers Watson explains the benefits of a sustainable risk strategy that serves your organization 365 days a year. It is
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The last 20 years have produced an increasing number of disruptive, complex and unpredictable events, even black swans. In this session at RIMS 2021, two risk management experts explore ways to identify and assess exposures to build resiliency to these events in your organization. Guests included: Bob Bowman – Senior Director, Risk Management, The Wendy’s Company Chris Mandel – President & Managing Consultant, Excellence in Risk Management, LLC While the risks less understood are difficult to address, they are often so substantial in impact that they can’t be ignored. Black swan events, while, by definition, are unpredictable, there are still
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With federal workplace laws becoming increasingly complex and state mandates continually changing, employers are looking for ways to establish a consistent leave of absence approach across the organization. This RIMS 2021 session offered clarity on leave of absence and accommodation details and best practices. Speakers included: Shawn Johnson, Managing Director, Workforce Absence Solutions, Sedgwick Adam Morell, Director, National Technical Compliance, ADA Accommodations, Sedgwick The Difference Between ADA and Return-to-Work Programs An ADA accommodation is when you provide an employee some revised method, tool(s) or resources that will allow them to accomplish the essential functions of their job. Accommodations could be
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In the RIMS-CRMP core competency model, “designing organizational risk strategies” refers to how a risk management professional uses the collective research from the stage of analyzing the business model to design a “fit-for-purpose” risk management strategy based on the needs of the organization. In this session at RIMS 2021, Dr. Joseph Milan, Principal at JA Milan and Associates, discusses the seven main components of designing organizational risk strategies in preparation for the RIMS-CRMP certification. What is the RIMS-CRMP Certification? The RIMS-CRMP is a certification that defines extremely high achievement of risk management competencies for the risk management professional. This certification
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