From Service to Strategy: How to Use RMIS to Win and Retain Risk-Managed Clients

Ladies and gentlemen, the webcast will now begin. Over to you, Scott. And thank you very much, Raven, and hello, everyone. My name is Scott Ferguson. And welcome to today’s webcast and panel discussion entitled. Now, From Service to Strategy: How To Use RMIS to Win and Retain Risk-Managed Clients this event is brought to you today by PropertyCasualty360. And we are sponsored by Origami Risk. Now, before we begin, I’d like to go over some basic housekeeping items about the webcast console. This event is completely interactive, and it features many customizable functions. Every window that you currently see from the slide window to the Q&A panel can either be enlarged or collapsed. So if you’d like to change the look and feel of your console, please go ahead. If you have a question for any of our speakers today, please enter it into the Q&A widget on your console. That widget is accessible on the left-hand side of your screen, where you see the question mark icon. And if we do not get to your question during the event, you may receive an email response afterwards. And now for today’s talk. Oh, and there’s some additional materials that you can download and explore, and we’ll be showing those to you at the end of today’s event. And now for today’s topic, and the reason why you are here today, From Service to Strategy: How To Use RMIS to Win and Retain Risk-Managed Clients. Now we’re here to talk today about how insurance organizations can better serve their largest, most complex clients, especially those in loss-sensitive programs, through transparency, insight, and technology. We’ll explore how a focus on client retention, operational efficiency, and digital transformation is driving a need for RMIS technology adoption for providers. Now, joining me today, are three esteemed panelists, and they’re each going to be bringing a unique perspective to this program. Our first speaker is Lyde Graham. He is the Director of Insurance Services at South Carolina School Board Insurance Trust. He is a former US Air Force officer and a Citadel graduate. Lyde overseas risk programs covering 60 plus school districts, managing $24 billion in assets, and $3.1 billion in payroll. Pat O’Neill is Founder and President of Redhand Advisors. And he’s a recognized leader in risk tech. He has more than 30 years of experience in RMIS and claim systems. Pat helps organizations make smarter risk technology investments, and he has an unparalleled view of market dynamics. And last but not least, Earne Bentley is going to be joining us. He is an accomplished risk management technology and executive leader at Origami Risk, our sponsor. He’s led various sales and service practices there, and he brings a deep understanding of how carriers can modernize operations through technology. Gentlemen, thank you very much for joining us today. We appreciate having all of you with us. Thank you. Thanks for having us. OK, we’ll just get– we’re going to get started here. We’re going to take it at a high level in a way ensuring organizations serve their most risk-aware clients. Patrick, I’m going to start it off with you to get the table set for our discussion today. And from your vantage point, where are the biggest disconnects between how insurers operate today, and what risk-managed clients are actually expecting? Yeah, great way to start. I think that there’s a disconnect. And I think the disconnect is expanding very rapidly. I think there’s a couple components to it. First, I’d say clients expect real-time visibility into their data, into their program from claims, exposure data, policies, all that information from their carrier. That transparency and that real-time access is critical. So that’s one of the gaps that really isn’t being met very well in the marketplace. I think second is just generally a technology gap. We’re certainly living in a very transformative era right now in technology with artificial intelligence, advanced analytics, and risk-aware or risk-enabled clients that are are really actively managing their programs, they have started to get accustomed to using AI tools and analytics to do their job, to manage their risk. And they expect the same from their partners. So they expect the same type of tools. Not just that their partners are using those tools, because we expect and see in the market the carriers are using those tools, but that those tools are being made available, that they’re given visibility into what those tools are saying and what decisions are being made on it. And then I’d say the third piece is collaboration. I think the age we live in, this digital age we live in, particularly maybe younger generations than me, although I would say I’m in that space, I expect to have a digital experience. I tend to do things online before I pick up the phone, which is, I think the way this space worked for a very long time. And that goes to responsiveness and clients expect that. And many of the platforms that are out today don’t support that type of collaboration. It’s still important to be able to pick up the phone and get things done. But sometimes you just want to get that quick answer, or you want to see what the current status of the claim is. That’s really important. So I think it’s really about where I think the gap is is around where carriers deliver their experience and what that significant demand– and I mentioned at the beginning, I think all three of those topics that I just mentioned, I think the gap is accelerating. And so, I think, closing that gap quickly and soon is very important. OK, Pat, thank you for that perspective. Earne, let’s talk– I’ll send it over to you for a second– have risk-managed clients become harder to serve, or have their expectations simply evolved faster than the eternal internal systems can keep up with? Yeah, it’s an interesting question. By harder to serve, I think, at its base the answer to that is yes, they have. But the reason is because their expectations have risen quite a bit because the expectations on them have increased significantly as well. Whether it’s expectations for managing how much of the money is reserved within their organization, what their cash outlay is from a premium standpoint versus what they’re actually able to transfer that risk. And then, in addition, the insurers are all asking for more information, more detail, more specificity when it comes to the underwriting part of that as well. So there’s a need for more real-time information at all times. And from a carrier standpoint and a policyholder standpoint, policyholders are expecting carriers to be able to give them real-time information about what is happening with their program, what’s happening with their claims, how are we thinking about settling certain claims or managing claims as well. So giving access to that real time allows for better collaboration and a better user experience that allows for stickiness, frankly, for those clients as well. All right, thank you very much, Earne. Appreciate that. Lyde, I’m going to turn it over to you. What is at stake for organizations, if they don’t evolve how they support their most sophisticated clients? Well, thanks for that question. I would submit to everybody who’s listening in. I live by the four R’s, rigor, relevance, repetition, and relationships. So everything we do is time based. The faster we’re able to turn information around to underwriters, to clients– Because as a carrier, I have an obligation to my clients. And I also have an obligation to the carriers, or the underwriters in my case, where we actually purchase catastrophic reinsurance. We have a duty and a demand from them in order to get a lowest cost of reinsurance, to provide them with the information they need on a timely basis. So that having that relationship with all of these carriers, and underwriters, and your clients, you can work through things associated with the insurance world in which we live, that the risk management place in order to stay on top. Because if you don’t evolve, if you don’t get better today than you were yesterday, somebody else is going to take your place. Very true. And Lyde, thank you for that. Appreciate that. Before we go on to the rest of our presentation, we do have a poll for our readers in the audience. And we’re going to be asking today, what are your top priorities when it comes to serving risk-managed clients? We have four choices. It’s either delivering a branded digital client experience, reducing internal workload, strengthening renewal positioning, or differentiating service offerings. And for our esteemed panel, while we’re waiting for some of our answers to come in, what are you seeing in the market from this perspective when you’re out there, you’re talking to your clients, you’re talking to your peers? What seems to be dominating this part of the conversation? This is one of those hard test questions as I read this. Because the answer is oftentimes all of these. It’s a matter of which one is more important to the business. But, I think, differentiation is obviously huge among carriers with their policyholders. And like I say, all of these are really good answers and things we hear quite often from our clients. I thought it was a trick question myself, Earne. I was looking for the “All the above,” button. But I do think differentiating service is a big piece of it, because that’s the direction that the market’s going. And be able to differentiate yourself through technology, through collaboration with your clients is so important. Yeah, Scott, I would submit that no longer can entities survive just by providing policies. We have to differentiate ourselves through service. And a part of that service provision is being able to cull data in a method that satisfies our clients in their timelines, and as well as underwriters when they’re looking at placing risk or premiums that we have to purchase to underwrite what we do. OK. Well, I’m glad this question was a challenge not only for our audience, but for our panel as well. Just looking at the results, and we can push some of those percentages live right now. It was differentiating service offerings as the number one that came in with 66%. It was followed by delivering a branded digital client experience at 22%, and strengthening renewal positioning came in on third there with about 11% of the audience there. So thank you all for talking through that. Appreciate it. We want to move on, and we want to talk a little bit about market pressure and expectations. As a lot of people know risk-managed clients, whether they’re large commercial policyholders or public sector pools, are asking a lot more and the competitive environment is shifting. I think Lyde talked a little bit about that before when he was giving his answer. So I want to start this part of the discussion with Pat. What market trends or client expectations are driving changes in how insurers serve their risk-managed accounts? Sure. So we see pretty significant changes in the marketplace. I’d say the first is more organizations that historically didn’t take high retentions and managed fixed cost programs are shifting. We’re seeing stronger emphasis with, I wouldn’t say smaller, but beyond the largest clients. And so with that comes the need and the necessity to have the tools to manage that effectively. Not all those– what happens then is, and there’s obviously, there are technology solutions in the marketplace that you can get independently, but doesn’t always get you access to all the data that you may want from your carrier, maybe real-time data regarding adjuster notes as a good example. And so, they’re turning to the first place, whether it’s because they might be priced out of the market for their own solution, because of the size of their own organization, they’re looking to their carriers to say, do you have these tools to help me effectively manage my program. So those market trends are pushing them towards– and we’re seeing this in the marketplace, more tools available for clients to manage the experience directly with their carriers. There’s still a long way to go. We certainly talked about the gaps a moment ago. The good news is what we’re seeing is that they’re starting to be addressed. They’re looking, as we saw in the poll, looking for ways to manage that digital experience to improve the services that they offer, giving them a better service differentiation. I think that’s really important. On the flip side, [CLEARS THROAT] there’s a gap, excuse me, that I think brokers are potentially filling. We see a lot of activity within the brokerage space particularly with analytics and AI capabilities, where they’re offering tools to their clients to fill gaps that may not either the client doesn’t have directly because they don’t have the systems or the capabilities or that they’re not getting from their carrier. So I think brokers are stepping in some places. And while I think that’s great for the clients, I think that’s a precarious place to be for the carriers. Because you’re going even further away from being a partner and just being a transactional piece of the pie. And I think for many cases, I think what carriers have focused on, and maybe rightfully so, is they focused internally on their technology spend and where their investment is. They’ve improved their processes. They’ve enabled AI in their own business to effectively manage claims, but they haven’t really thought what that means and how they should interact and provide access to clients. So those are the trends we’re seeing. I’m hoping that it catches up with the gaps that we see in the marketplace. But the demand is moving very quickly. And, Pat, I just want to just follow up really quickly with you. Just a question of my own. Has that really accelerated over the last few years, especially as the AI conversation has been coming into everything? I mean, so you’re talking about them filling in the gap and has that really been accelerating over the last few years? It has. It has significantly. Because so many organizations, they may have been relying talking about the client side. They’re relying on– well, I’m going to manage my program. I’m managing it in spreadsheets, or I’m managing it in not real-time applications. And what they’re finding is that worked. It was good enough. But with the adoption of all these artificial intelligence capabilities, they realize that they’re getting left behind so much quicker. And that those type of tools, well, we’ve got Copilot built into Excel. It doesn’t really get you the true enablement that you need. So we’re seeing a lot of organizations that have historically been like, “We’re good enough. We’ve got what we need.” Saying, “No. Now, this is the time. I have to make that leap. And I have to be on modern platform that enables this everyone working from the same playbook.” I think that’s really important. Yeah, it’s interesting. We’re seeing that in our business too, where insurer RMIS systems that they’re providing, client-facing RMIS systems have historically been– many of the, especially the large tier 1 carriers, have had their own RMIS system, oftentimes for decades. Which is typically access to loss runs and some information on the claims and that thing. But what you’re starting to see accelerate significantly in conversations we’re having are looking for a more modern platform in which they can expose to their clients, and then give additional tools to those clients to use to manage their own risk. Sometimes even outside of the specific risk that’s insured by that carrier as well. So we’re seeing that as well. Earne, actually, that brings right into the question I wanted to get in front of you and talk a little bit about. And I mean, from a technology point of view, are you seeing a shift from predict and respond to predict and prevent? And how does that play into the conversation we’re having? Oh, it is virtually every conversation anymore that we’re having, and it shows up in various forms. Primarily clients, insureds, whether it’s any of our client base, but insureds specifically for insurance carriers are oftentimes looking for ways, instead of just being fed specific information or just a specific set of loss runs. They want to be able to query their own information. They want to be able to ask the data specific questions. They want also the system to think for them to actually start raising insights that are coming out of their information, in their data that they’re not even thinking of. So you’re seeing it– you’re seeing insurers realize that this is what their clients are asking, and demanding, and providing those tools that give, actually, put the tools in the hands of those clients so that they’re not on the receiving end of constantly answering one-off questions to deliver questions, but actually, give those tools. So we’re seeing that quite a bit. Great. Thank you for that. Appreciate the insight into the technology, and how all that is changing. Let’s put it into some practical use now. And this is where Lyde is going to come in and talk to us a little bit. We wanted to understand a little bit from a practical point of view, how you’re implementing technology at the South Carolina School Board Insurance Trust and some of the challenges we’ve discussed here, and hearing some of the issues that you’ve seen, Lyde, from your point of view? So just when you were making this journey, RMIS, what were some of the problems you were trying to solve? And how is that evolved over time? Well, I think in any organization, whether it be a for-profit or non-for-profit, like we are, the biggest thing is cost. So how do you identify your biggest cost drivers? How do you get out in front of your clients who are subscribing to the insurance services that you provide? And how do you help them become better risk managers? When you’re able to take time-phased data, so over a period of time, for workers’ comp, let’s say, how many slips, trips, and falls do you have? How many fights do you have? Because we primarily deal with school districts. So children are fighting. Things happen. How do you categorically provide to school districts where their biggest risks are? Not only where they are, but how much do they cost you? What is the driving factor in that? And when you put that data in front of folks, it gives them a whole different perspective. Because they think about how much money is going out. And sometimes some folks don’t realize that it’s the insurer underwriting that cost, some think it may be there. So it’s very incumbent to have a system that is flexible enough to allow us to query data to provide it to our insurers. And then not only that, but be able to talk with them and get down into the details of it. And you have to have a system that is responsive to do that. And Origami, over the years has, by and large, just been right on point with us being able to pull that data and providing them with things that enable them to do it themselves. And that’s the key. When somebody takes ownership of their risk, that’s when you can really begin as an insurer driving costs down. Excellent. And I know we talked about this in our pre-call here too. But I also wanted to understand a little bit about what capabilities have had the biggest impact on your members’ ability to manage that risk that we were talking about? I know Earne has some history there as well, but, Lyde, maybe first off to you, like what capabilities were you seeing and what’s made the biggest impact? Well, going back to what I just said, Scott, that the biggest thing is the relationship. When you have relationships with your insureds that they can call you when they don’t understand the data, or they might not get the larger scale ramifications of what they’re seeing, you can use detail. You can pull individual claims. You can pull individual remarks that are made during a claim to help folks channel their energy to focus on first things first, what’s our biggest cost driver? What are those things that we can do to help ourselves have lower premiums? Because it’s cost for insurers, but it’s also cost for the subscriber of those insurance services. So it becomes a synergistic effect by us having access to the data real time, where reserves are updated as your adjusters work through the claims. And also for your clients to be able to see where that information is, and if they have specific questions, reach out to that adjuster and begin working. So it is a synergistic way to reduce risk over time. And that’s what it’s all about for us. Earne, I know again we were talking. Is there anything you want to just add or piggyback on with that one? Yeah, one of the fun parts about being in this business quite a while is working with folks like Lyde and SCSBIT, well over a decade. But I know specifically a big lift that was gained early with the SCSBIT members specifically was not just around risk and claims. But giving the consultants there with your team, Lyde, the ability to actually go in and actually have forward-looking loss control conversations around what are we doing on the go forward to start preventing this. And actually, show up with their information all on the screen loaded into the application so that you can talk real time about what they’re seeing with their exposures and their data, and be able to feed that to them as well. But you see that happen quite a bit as an early win in these types of projects. And, Lyde, I’m going to give you the last point here to make when we’re talking about this case study. Everybody likes metrics and being able to describe what’s happening. Are there any specific metrics or even anecdotes that help quantify the impact of your technology and what the effect it’s having upon that organization? So, thanks, Scott. That is an excellent question. And that’s part of what we’re talking about today. When we look at, from a school district perspective, one of the biggest costs on the casualty side is– I mean, we see it in the news every day. Sexual molestation and abuse. What are the drivers of that? What are the things that are causing liability claims to go up? So nationwide, we can see that there are upticks in nuclear verdicts from jurors. So then, as an insurer, how do you fix that? So we take the data and use that to create programs to help our insured members combat that either face to face, helping them look at reports that they get out of the system. And really, at the end of it, after you have times of claims, how are your actuarial reports looking? Are your trends increasing in a particular area? And I would submit for us, when we look at the predominance of liability claims, our actuary actually said in the last meeting that we had with them through the utilization of that data, ours is 180 degrees from the national norm. Where you have increasing costs associated with liability claims. We are one of the few entities in the nation, according to our actuary, whose claims have gone down. And I give specific congratulations to the team that put this system together, because it does really enable us to get at the root cause of things, communicate that, and have solution-focused conversations on how to address that risk moving forward. Lyde, thank you very much for that. We appreciate the insight that you’re saying there. And when Lyde was speaking about operating a pool, and the challenges that are faced, and serving risk-aware members with complex needs, and they’re very strikingly similar to what carriers face when they have large deductibles or SIR clients. And I want to turn the conversation over to Pat for a little bit here, put him on the spot, and ask him a little bit about what makes RMIS strategic opportunity for carriers? I think Lyde did a nice job explaining what the upside is for sure. Again, technology and being able to manage your risk effectively, it’s table stakes now. And I think it can be, I think, RMIS capabilities from your carrier can be a really strategic differentiator. Being able to have that more collaborative experience and relationship with your clients. I’ll tell an anecdotal story that I think hits home on this. I sat through earlier this year– it’s still 2025. Yeah, it is. Earlier this year, I sat through a carrier competitive situation with a client as I was the technology advisor in the room. And I was like, it was interesting. I was thinking it was mostly going to be focused on how they handle claims, how they process policies, et cetera. But it was important to the client that they looked at it through– they also looked at it through a technology lens. And I think they did a nice job of explaining where they were trying to go and why it was important. But what I found is that the market and the carriers that responded all handled it very differently. Some handled it very well and talked throughout their presentation on how technology, both internally facing and externally facing, how they’re investing in that, and how it will benefit the client. And others focused solely internally on the technology. While again, that’s very important, but it puts everything behind a curtain, and the client doesn’t always understand what’s going on and see how decisions are being made, or even no real time what’s going on. And what was the most interesting to me was after the fact. So when we gathered as a group to evaluate the choices, technology was the the differentiator for this client in making their decision. And one of the points that one of the clients made was, “If I don’t see that they’re enabling technology for their clients, I question what they’re doing internally with technology.” I thought it was a really interesting point. Because you don’t get to see all the stuff behind the scenes, you just assume that they’re using all the right tools, that they’re enabling AI. But the question is, I think broadly speaking, these tools that they’re now offering externally. So I think that shows how it’s become very strategic. I think carriers that aren’t talking about not just their own internal technology, but how they’re enabling their clients with technology, and specifically RMIS capabilities, is so important. Earne touched on this earlier about the carrier market has been providing RMIS capabilities for decades. I’ve been there, too, with all that process. And historically, it’s been claims focused. So you could get access to your claims, you could run reports, you may even have some nice dashboards. But the true RMIS capabilities that we’re starting to see in the market and the kind of independent capabilities that Origami offers that carriers have the potential to offer can help a client enable so much of their organization. So if you think of going through the renewal process with a carrier and collecting all the data that’s necessary for that renewal through the platform and essentially sharing that real time with the carrier, it can give you significant savings and much better collaboration. That’s just one example. Having all your policy data in one place. And to Earne’s point a moment ago, allowing some of the systems, allowing the clients to manage the data that’s not part of that relationship, it can be a real significant. It gives the clients an opportunity to have a true RMIS system that they may not actually have access to independently. And as you mentioned, too, Pat, this really helps when it comes to these conversations that you’re having when it comes to renewal time, and if you’re in a competitive situation, where there’s bids involved. I mean, this is really where it’s making the big difference, correct? It is. I guess I wasn’t surprised that technology was so important. But when we sat back, because the way– not to say that there isn’t a differentiation between the carriers and how they handle claims and policies, but how they’re enabling– all of their services are technology enabled. They’re using technology to deliver those services. And that lens gives them– so the lens of technology shows, yeah, they’re making the right investments. I feel like this is the right partner for us going forward. And more importantly, that they’re enabling us, they’re giving us the tools that we need to be an effective partner. Because you don’t just throw that stuff over the fence and say, good luck. Manage the data. You want to be part of that. You have a role. The client has a role in managing the program as well. You’ve got the carriers involved in the day to day, but you need to be sitting over. You’re going to be making decisions, giving recommendations, and having that ability to see that real time is so important. And on the flip side of that, if you’re not offering these tools, you’re at a disadvantage then or if you can’t offer them to your clients further down the stream. I think you’re at a significant disadvantage. Because again, many clients will are coming and saying, “I expect, I want to get these tools.” They may have been happy with the tools they’ve had in the past. So I talked about Excel earlier. But maybe they’re just happy with the claims access that their carrier has provided them. But now they see in the market that they have these much broader capabilities, these true RMIS capabilities that are available in the marketplace. It’s going to make customers think, “Well, maybe I should be considering another partner in this process.” Yeah, all really good points there. I want to keep going and going on that technology conversation. I’m going to talk a little bit to Earne in this next part. We want to talk about overhauling the core systems. And many insurers, they don’t always have the bandwidth to do full digital overhauls of their core platforms. So we have to turn attention to technology a little bit more to make that possible. So Earne, for you, how does a modern RMIS platforms integrate with existing claim systems, and especially when the goal is read-only only access for the employees there? Yeah, well, I’ve got a bit of good news here. And that it’s getting better. I’ll just call out a couple amongst others that you’re seeing folks like Liberty Mutual and Zurich that are doing some serious investments in providing APIs to easily get their data distributed out through different mechanisms within that as well. That makes integration into Origami or from a claim standpoint, easier, more real time. You can get it updated much faster, that kind of stuff. That is not the case for many carriers. I think a lot of folks are moving towards that as well. But this has been the business we’ve been in now for decades, which is the aggregation of claims data and claims information. So we’re staffed with quite a talented data team that knows these systems by heart, and is able to get them ingested into the platform. That’s really what drives a lot of these implementations. And driving that– From a read-only only standpoint, that’s just a simple, just super granular security that’s enabled in a RMIS system that you can really define by client or by down to the user level, what specific information you want to be able to enable them to see, to have access to, to edit or update, perhaps, or enter new data. But that’s just inherently part of that application. And we all know security is a huge part of the conversations that we have going forward– Absolutely. –with all the threats out there. Earne, Just, one other quick question. Well, maybe not a quick question, but another follow up to that. What does an implementation actually look like in practice? Probably not a simple question, but I mean, just an overview of how you get your implementation going up? I mean, what does that look like? Yeah, implementations have really evolved, especially over the last few years. What you see now with really successful implementations like this, because of the complexity in most of these carriers, are just operating in with the various core systems, with claims and policies, and the like. We spend a lot more time now on the front end than we used to on really setting expectations for what the outcomes we’re looking for, really defining where the data is coming from, how we want it displayed to clients, what is the user experience we’re expecting. So what you see also is more real-time testing and bringing in focus groups early throughout the process and really ensuring we’re driving that. But by doing that early work upfront and really driving through an inception and a discovery process, what exactly it is we’re aiming to accomplish, it makes the actual hands on keyboards work quite easier. The other part of that that makes it easier than it used to be is having predefined standards and capabilities that come out of the box. We’re not showing up just with a blank system that we say, “OK, Mr. or Ms. Carrier, tell us what you want, and we can define it for you.” We’ve got tools by this point. We all know the major lines of business. We know what those look like. Let’s start with a starting point and go from there. So you’re seeing significantly faster implementations and tools with that as well driving that. Same with the data side. The two biggest pieces that take the most time, I would say in any implementation is data integration and decision-making. So if we can front load and really get those made up front, it makes an implementation much more successful in the end. And really a question for anybody on the panel, Earne, or Pat, or Lyde. Are there any sort of misconceptions out there, common misconceptions, about implementing RMIS from either a carrier or a pool standpoint that you think need to be addressed? Yeah– I mean– go ahead, Earne. You go ahead, Pat. You see it more across the board than I do. Yeah, well, I was going to tag off of what you said. You talked a little bit about the way you go about implementation. But I think one of the misconceptions in the carrier space is they think they have to replace everything. They think they have to replace their core system to get what we’re talking about. And the way technology and modern platforms work today, and obviously, to Earne’s point a moment ago about how organizations are moving data much more efficiently, you can bolt on to use a technical term, you can bolt a front client-facing RMIS onto a core application and even potentially a legacy core application. And Earne, you’ve been through those implementations. Sure. Core implementation, core claims administration, they’re complex. And you could be quite a ways down the road before you’d ever see any outcomes from that. You don’t need to replace all of that. If this is the strategy and this is important, you can bolt on a modern RMIS like Origami, connect the data on a near or real-time basis, and provide modern, sophisticated capabilities to the client. I think too many– I talk to a lot of the same carriers that I’m sure that Earne does, and they look at it as an overwhelming project. They’re like, “Well, it would take years. It’s so ingrained in the way we do things.” And again, they’re focused internally. They start on that first. And there’s a way. I’m not saying it’s easy, but there’s a way to do this without throwing everything out. I think you said it perfectly. That was– I reiterate, I’m hearing the same thing. All right. When we close out of that section, we have another readers’ poll that we’d like to get in front of our audience as we come into the second half of our discussion. And our second poll today is how likely are you to invest in client-facing risk technology in the next 12 to 18 months? We have four choices to pick from, very likely, as that we’re actively evaluating. Possibly, we see the need. Not sure, we’re still learning. And unlikely, not a current priority. When we give the audience a few seconds to put in their answers, I just want to take the temperature of our group here. See what you’re hearing in the market. Are there macro issues or micro issues that are affecting these technology buys? And also a reminder that we have time for– we’ll have some time for questions at the end, so put those in now if you can. And just quickly to our panel, what are you seeing in the market when you’re talking to clients about investing in the next year to 18 months? Yeah, well, like I said, we’ve seen– Earne, you go on this time. OK. I was going to say we’ve seen it accelerate a lot in the last, I would say, year, 18 months. And I think what’s driving it is it’s a platform play. So what Pat was talking about where the assumption is that a lot of complexity around it, they think about it like a core claim system implementation. But at its base level of any modern RMIS is the platform capabilities. So think about things like workflow, workflow that drives any of integration or even pulling AI capabilities within the specific workflow that you want to utilize. Analytics, the ability to communicate through, whether it’s text, or email, or– so this is a base platform implement part of any modern RMIS that comes as part of that. And then on top of that is the specific use cases that a lot of the clients that will utilize, our carriers will utilize for their clients as well. So I think that understanding has really accelerated that. And folks realizing, “Wow, instead of building my own or trying to continue to prop up my 30-year-old system, I can really start automatically, just start at a baseline that is much higher than where I sit today. And then guess what? We’re in the business of doing this, and this is all we do. We’re going to continue to accelerate that innovation, and you’re going to be able just to benefit from that with that as we go.” And Scott, if I could add on to Earne, if we have time? My daddy always told me, if you do what you’ve always done, you get what you always got. Now that’s a South Carolina colloquial expression. But I’d submit to you that in what we do, if you are on the fence, you need to have a partner with you that can adapt to the change with you. Somebody that has not only your best interest, but several other customers’ best interests. So they have experience in helping you navigate good ways and efficient ways to change processes that you’re doing to serve the underwriters, if you’re in that position, or to serve your clients in terms of providing expected information in key ways to do that. OK. Lyde, that’s great insights. Thank you very much. We appreciate the view from South Carolina on that particular question. I just want to say we can push the results out from our audience. I just want to let everybody know about 60% of our audience came in and said they were not sure about investments for the next month. They’re still learning. But 20% did say they are very likely, and they’re actively evaluating some of these new technologies. So that’s good to see. We want to come into one of the last portions of our discussion today. Talk a little bit about key benefits and the lessons learned. We were covering strategic reasons for RMIS. We talked about real-world results and touched on how insurers can deliver value without the disruptive overhauls. I want to turn our attention to maybe what surprised you the most, either in implementation, or how your teams have responded going through? Talk a little bit about the ROI and all that comes with that. So, Lyde, know you weren’t with your current company when during the implementation. But now that you’re deep in the day to day, what’s been the biggest change that you’ve seen in how your members interact with claims and risk data? Going back, I mean, I think it’s been talked through this entire webinar, risk management, who owns it? Does the insurer own it, or does the insured own it? And, I think, if you take it as a team approach, being able to help your insured folks understand their data and being able to communicate the data that you have from claims and whatnot in your RMIS system to those who help underwrite that you purchase additional coverage from, put you in a place of solid performance moving forward. Meaning, you can rely on your data. The data is consistent over time. And that those folks who you’re answering to get timely information from you. And that’s the key. How fast can you pull it and how deeply you’re able to navigate it, navigate that data, should they have questions and helping them do that. And, Earne, I’m just going to toss it back to you very quickly. You were there at the time. What do you remember about those goals when they first launched that platform where Lyde is right now? Yeah. I mean, obviously for them the claims piece was huge. And getting that all under one system and giving it away. But getting client and their members access to their RMIS was top of the list for what they were aiming for. They wanted to continue to enable. I mean, it’s exactly what Lyde is saying. They want to be able to put the risk management control in the hands of their members and not have them be just simple recipients of information to react to but actually be able to take ownership. And it’s interesting, any software system can do as much as you want to enable it to do. But if you don’t have the processes and the organization before you get to that point and be able to enable that, it’s only going to do so much. So it’s a great success story that we’ve seen there at SCSBIT in our partnership and the ability to really drive change throughout their membership. Over to Pat for a minute. Because when we always have these conversations, it’s all about ROI. How can you show the Return on Investment? So, Pat, when we’re talking about ROI considerations that insurers should have in mind or preparations for organizations as the shift to anticipate comes along, I mean, what are you seeing in the marketplace when you’re talking with clients? What’s those ROI considerations that we need to talk about? Yeah. Well, related to that, I just want to make one comment about the results that we just saw on the screen earlier. Sure. I look at it a lot of times from the client lens. So I know that the focus is the carriers, but it’s the client lens we’re talking about. The clients lens to those questions are now, immediately. I’m implementing– if I don’t– we’ve seen more RMIS implementations in the last three years from customers that have never had them. They get them from their carriers. They get them independently. The market is demanding this. And the second thing I would say is they’re also, if we ask questions in our polls around AI, and using artificial intelligence, and analytics, they all expect significant– people are piloting. They expect significant investment in that. And they’re looking to their partners for that. So I just– just looking at that poll response that we’re thinking about it. Your clients are demanding this. That’s what we’re seeing in the market. But it does circle back to the ROI, right? So I’ll answer your question now. On the ROI side, I think a lot of times people, organizations like carriers and pools look at this and say, “This is a significant investment on what I put in client facing. What’s the return for me?” And there’s a lot of return. The conversations I have with carriers, and risk pools, and self-insurance groups is around that enablement of the client giving, whether it’s a portal or full RMIS capabilities, so that you can actually enable the client. You can start adding up the ROI. It’s fewer direct data requests. It’s real-time data. They don’t have to be picking up the phone and asking for that next report. It’s a faster renewal process. It’s less manual reporting. There’s so many time savings. Adjusters being more efficient in the way they communicate with their clients. All things that RMIS and technology platforms can enable. Probably longer term, maybe softer to measure. But some of those things we talked about before. I think, if done correctly, and you spend the right time upfront in the implementation, like Earne mentioned, higher client satisfaction, better brand recognition to the whole point of we’re differentiating yourself in the market. Those are the things I think you have to consider. Your externally facing investment may not directly enhance your internal efficiencies, but by enabling your client, you are gaining efficiencies within your own organization. OK. And Earne, I want to just wrap up this one section with you. Just talk about have you seen a mindset change for teams after adopting RMIS technologies? Yeah. I think the main mindset change you see is the change from talking with clients about how they get their data, and whether the data is correct, and what format they need it in. That conversation goes completely away. Now, we’re actually able to spend all of our time talking about managing risk, and how as a carrier we’re doing at ensuring that we’re staying on top of the claims and communicating with you about large losses in the right way? And how are we working together? How are we better setting up your risk management capabilities in order to continue to drive down these losses and ultimately your premiums as well? And here’s another really interesting way that a mindshift has changed as well, that we see quite often is after the RMIS gets deployed by a carrier, for example, we start hearing a lot from the business development folks. And why? Because they want to start singing from the rooftops about everything they can do. And now what they can provide to that. So our marketing team, they stay pretty busy and help to enable those organizations to continue to. But you start seeing the salespeople get really active. It’s another way that you see some behavior changes. Very good. We are coming up to the top of the hour. We’ve covered just so much ground today. I want to give a few minutes just right now for a couple audience questions that have come in. You can continue to put those into the queue. We’ll try to get to some more, but I just want to cover a couple questions that had come in. And this is for the group as a whole. Whoever wants to take this one. A lot of our core systems weren’t built for external client access. How do you ensure secure visibility without exposing too much? Pat, do you want to– why don’t you take that. You see it across multiple systems. Yeah I thought you had a great vendor response for that. I was going to– I paused– I do. But you’re more credible on this one. I didn’t want to step on you there. So, I think, so that’s part of what I mentioned earlier, which is the bolting on of or integrating external capabilities. These are all typically configurable tools that allow you to decide what data is going to be shared, what data is not going to be shared. I think there’s significantly a need for more data. That’s a huge demand in the market right now. Clients want access to more. They want access to adjuster notes. They want access to all that data that AI can help mine for you right now. But you still have to set the right guardrails up. And as long as– that’s an integration issue that can be worked towards. So I wouldn’t make that a sticking point of why you wouldn’t do it. You just have to make sure that you have the right guardrails up in place on what you are going to share. But I would– unless there’s true like PII issues or other security concerns, I think the more data you can share with your clients, the better enabling them to really understand and glean the insights from the information that’s available. Great. Earne, did you want to jump on that one as well too or are did we cover it all? I think Pat said it perfectly. All right. Another question that’s come in from our audience is if someone’s on the fence about RMIS, what’s your strongest argument for making the move now? I think now more than we’ve seen in a long time. And, obviously, the big buzz is AI everywhere. But you are seeing such an acceleration in capabilities at such a rapid rate, that also equates to a rapid rate of expectation rise with that as well. So you’re starting to see expectation that people can do a lot more themselves. They need to be able to self-serve. They want to be able to get at the information and gain insights themselves. The longer you wait to get there, or even to start building a baseline in order to be able to deliver solutions like that, I think the further behind we fall. So I think timing is critical. Now it’s a difficult decision. Do I know, like anybody, you run a business and you’ve got lots of problems to solve at any time. And how do you prioritize two large problems compared to each other? But I think looking at it from a growth standpoint and a client retention standpoint, obviously, that is king to running any successful business. And I think adopting that as early as possible in order to not fall behind is absolutely critical. I’ll just add to that. Earne said earlier that there are some changes in the marketplace. I think there’s more activity right now in this space. And so, if you’re thinking about why is this the time to do it, your competitors are looking at this. They’re evaluating this. I think that’s another very important reason. There’s more activity in this space around client-facing RMIS capabilities than I’ve ever seen in my decades in this marketplace. All good thoughts, guys. Thank you very much. I’m actually going– we heard Earne. We heard Pat. Lyde, I’ll give you the last word. Thirty seconds. Wrap us up. What’s the big takeaway from you from what we’ve discussed so far today? Data, data, data. I said it earlier. But I’ll make it a little better. You want to be better today than you were yesterday. And how do you do that? You have a partner that can grow with you, that can help advise when you run into challenges that you may face locally, statutorily, or in the marketplace. How do you adapt to that? And I can tell you my experience with Origami has been one where we say what we need, and they put a tiger team together that help develop what our needs are, and get us the answer quickly at a minimal expense. So I can’t say enough about Earne’s team. They’ve been great to work with as we’ve transitioned from area to area. So you’ve got to have a system that is willing to be scalable to your needs. And they’ve done that perfectly every time. All right. And I think that’s a great place to leave it. Pat, Earne, Lyde, thank you so much for stopping by with us today and discussing this topic. We appreciate all your insights. I do want to let our audience know that this event will be archived on the PropertyCasualty360 site. So you can view it again or refer someone else to that. In addition, we have some additional materials that you can download and explore. I think we have that up on the screen right now. That includes the Redhand Advisors RMIS report. You can now find a way to download that. And with that, I want to thank everybody for joining us today. Thank our panel again. Thank Origami Risk for supporting today’s event. And with that, have a great rest of your day, and we’ll see you again soon.