Risk analytics plays a key role from an incident/claims perspective through detailed risk and control interdependencies. Risk analytics ensures that management remains aware of risk information as it is reported. Equipped with this information, management can make decisions based on the impact of these risks on organisational objectives (given the control and response mechanism are already in place). It is essential to develop key action plans where controls are ineffective, and the risks do not fall within an organisation’s risk appetite

Our risk management solutions empower risk decision-makers through leading-edge technology. In order to assist organisations to lower their total cost of risk, the immediate cross-examination of risk and insurance data is a necessity. Many organisations struggle to achieve this goal, spending valuable time manually manipulating and consolidating the data across the enterprise. This is often at the expense of the ability to add real value to their organisations by helping reduce losses, and proactively manage and mitigate risks.

Indwe uses the latest analytics and modelling to identify trends and ensure that your risk appetite is aligned to your risk management maturity. The use of technology, supported by expert opinion and interrogation is key to mitigating risk effectively in modern organisations. Our Risk Monitoring and Alerts services notifies operations of major incidents in the area and, together with our data partners, we are able to identify focus areas for risk management initiatives.

LymeLyte is built on a cloud-computing infrastructure with unsurpassed technology and thought-leading risk management expertise. It is an innovative approach to risks, controls, incidents, claims, litigation, exposure, asset management and more.

LymeLyte includes the following:

• Governance, Risk and Compliance – Integrated risk management platform
• Incident Administration and Management - Automated incident management streamlines the process of understanding cost drivers.
• Claims Audit Management - Automate sampling capability, configure audit questions and scoring, select claims based on characteristics requested in your sample and create reusable audit templates for more consistent and efficient audit processes.
• Insurance Policy Management - Track all insurance policy information. Record all relevant details per policy and renew a policy with the click of a button and then create policy maps.
• Asset and Property Management - Track and manage all properties, property values and property recommendations in one place, as well as other key data ensures an auditable and accurate record.
• Insurance Renewal Collection - A tool to collect and analyse renewal data, through a web-based portal questionnaire. These capabilities reduce collection time and eliminates the manual process of spreadsheet aggregation.

With risk analytics, managers can remain aware of risk information as it is reported, ensuring that, based on the impact of these risks on the organisational objectives (given the control and response mechanism are already in place), appropriate decisions can be made.