Case study 1 - A client in the catering industry was looking for a management tool to calculate its insurance premiums based on the surface area of the sites of each of its entities.
Case study 2 - An industrial customer was looking for a communication tool into which he could integrate his insurance data en masse and display them in the form of tables communicated to his general management.
Case study 3 - Two Risk Manager customers were looking for a tool that would enable them to do both: manage the assessment of their risks in each of their Groups, and communicate the results.
To explain the importance of reporting, he explains that you realize it the day your phone screen breaks. You can have a fabulous analysis, but you can't see anything. Reporting lets you know the results of your analysis. It shows what we've found.
In this video, he lists 3 principles for effective risk reporting:
To find out more: here's the link to the video and the Risk Doctor Video channel.
Principle 1 - The aim of risk management and reporting is twofold: to capture the attention of stakeholders and to encourage them to take action. 1. Attention: reporting explains something that the reader needs to know and doesn't yet know.2. Action: reporting recommends what that person should do and isn't yet doing.
Principle 2 - Different people will want different information: there is a wide variety of stakeholders to whom reporting can be presented (customer, regulator, employee, competitor, etc.). Each stakeholder has different needs, and therefore requires information on different risks. To adapt reporting to the needs of each stakeholder, I need to ask myself: what information, on what risks, does each stakeholder need? For example, a decision-maker will be interested in a summary of the 5 main risks and the 5 main opportunities, and I'll present it to him in the form of a power point with a dashboard. This need will not be the same as that of the regulator, who will rather want an extraction in the form of a table.
Principle 3 - Present information in the right vocabulary and in the right way. It's important to adapt the most appropriate vocabulary to the person to whom we're addressing the report, and to present it with the right communication tool (email with attachment, interactive dashboard, summary with power point support, etc.). For example, a senior manager understands profit, reputation and future = security. He or she suggests that risk reporting be delivered in the vocabulary best suited to the recipient. A technical specialist or a project team will not expect information in the same way in terms of vocabulary and presentation.
Conclusion: We need to think about how to present our analysis of the risks we're building, in such a way as to give a synthesis of the right information adapted to the needs of my interlocutor, written in their adapted vocabulary while using it to ensure that the right actions will be taken.
At DELTA RM, we have integrated business intelligence into our software, enabling us to model all the information integrated into the tool. A dedicated team is responsible for customizing the reporting to the needs of each customer. We have standard reports to suit most needs, which we can adapt to the specific requirements of each customer. But above all, we can create tailor-made reports for new requirements.
Feedback 1 - For the customer who wanted a calculation tool, once his network had filled in the value collection questionnaire, the reporting system calculated the premium. All the customer has to do is download the report in the form of an Excel table to send the values to the insurers.
Case study 2 - For the customer who wanted a communication tool, all he had to do was import his Excel files and the result was a PowerPoint that he just had to finalize before presenting it to the board.
Feedback 3 - For those who wanted both : they have an interactive dashboard into which they can export each visual to enrich their PowerPoint presentations and illustrate their emails.
Method: At the start of the project, we ask each of our customers to provide us with their reporting data, so that we can make customized proposals. Either our standard reports are suitable, or we develop new ones.
To find out more, contact us
