05/10/2015

FERMA to facilitate the access to Axco database Insight Risk Manager

Global companies seeking the benefits of international insurance programs must navigate staggering complexities in the placement, structuring and delivery of these programs.

Regulatory requirements create gaps and uncertainty for global companies by inhibiting effective delivery of risk pooling, loss protection and claims handling services.

Insight Risk Manager is a database tool designed by Axco with risk managers, specifically for risk managers. It holds crucial intelligence in one place, clarifying the complexities and grey areas relevant to local compliance and regulatory insurance requirements, policy conditions and payment terms. Information is delivered in a Question and Answer format, through an easy to use and intuitive online portal, which allows users to choose both the information most relevant to them and the way in which they view it.

Based on a solid track record of implementation in the UK with AIRMIC and in the US with RIMS, FERMA is now supporting an initiative with Axco to make the database available to the FERMA member associations. Delivery of the complimentary membership benefit to their risk manager members will require active take-up by each individual association, a process which will be encouraged and facilitated by FERMA.

FERMA is convinced that the expert content delivered through Insight Risk Manager will equip European risk managers with a competitive tool to help address the key compliance concerns in the purchase of multi-national insurance programmes .
FERMA will support its member associations on the path to make Insight Risk Manager available online for their members and FERMA will work actively to ensure that through a relationship between FERMA, Axco and FERMA member associations, the database continues collectively to meet FERMA member needs.