General Insurance Article - Insight Risk Manager database made available to RIMS members

 The database of regulatory requirements, which was unveiled in June 2014, was developed to provide an independent solution to one of the most pressing problems facing risk managers – confirming that their insurance programmes are compliant globally. Insight Risk Manager is intended to provide consistent, up-to-date information, as well as to assist insurance buyers in conducting relevant, informed discussions with their brokers.

  

 Following the addition of 20 new territories in February 2015, the tool now covers 70 jurisdictions and the granting of access as a benefit of RIMS membership marks the next phase of the roll-out.

  

 Tim Yeates, Managing Director at Axco commented:

 “Insight Risk Manager is Axco’s contribution to improved communication between the insurance industry and buyers of insurance. Since its launch, it has enabled better understanding of the complex area that is regulatory compliance for global insurance programmes. The response has been overwhelmingly positive and we are pleased to now be able to extend access to RIMS members.”

  

 “More and more organizations realize the untapped opportunities that can present themselves by expanding globally,” said Mary Roth, RIMS Executive Director. “As those organizations develop strategies for entering new markets, risk professionals are being asked to assess local regulation and deliver complex and compliant risk financing solutions. Axco’s Insight Risk Manager will allow RIMS professional members to provide informed recommendations that support global initiatives.”