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Businesses Turned to Risk Management Technology More During Pandemic
April 21, 2021
Driven by the COVID-19 pandemic, businesses and public entities increased their reliance on risk management technologies, as vendors expanded their offerings to meet their needs.
A survey of 1,100 risk professionals found that 38 percent of the respondents increased their use of risk technology during the pandemic, while 56 percent saw no change in their utilization and 6 percent used risk technology less.
The survey was conducted by risk-technology consultant Redhand Advisors and the results are published in the annual RMIS Report that also includes feedback from 32 risk technology vendors.
Patrick O’Neill, president, Redhand Advisors, co-author of the report, noted that from their initial focus on claims management and administration, risk management information systems (RMIS) have expanded their functionality to address more risk manageme ....

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