The Client and Its Challenges
This large entertainment company was faced with disparate information sources, including workers’ compensation, general liability, certificates, exposures, and policy administration systems and applications. Additionally, there was little integration with the general ledger and asset management systems. As a result, delayed and incorrect information was provided to the risk management and finance departments. Senior management did not have confidence in the executive information system or its results due to inconsistent performance of the underlying technology infrastructure.

The Risk Consulting Solution
Marsh was engaged to help the client design a risk management information system (RMIS) and integration strategy. The process began with an initial needs assessment. This included a questionnaire, which was designed to gather information from key stakeholders. Once the needs assessment was complete, the Marsh team mapped out the business processes and identified system requirements and specifications. The team then completed an assessment of potential system solutions.

The client chose STARS™ Marsh’s RMIS product, to integrate the existing claims systems. STARS will be used to supply the executive information systems with the all of the data, diagnostics, and metrics needed to create a comprehensive report.

Finally, Marsh consultants prepared a project work plan and implementation schedule.

Results
The client will have one integrated system that will deliver accurate, timely data directly to company executives and restore their confidence in executive information system. The new system will also help the risk management and finance departments more accurately measure and monitor claims and finance functions. Integrated data will make communications between departments more effective. Finally, the new RMIS should ultimately lower technology costs.