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Risk Mitigation: Why Proactive Tools Are The New Reactive Solutions

Posted by Jeff Schobel on September 3, 2019 at 9:16 AM

In a world full of constant connectivity, the potential for risk continues to be on the rise. That’s why reactive response is no longer enough. Think about it: In this day and age, a simple photograph captured by cell phone at an inopportune moment can make or break a business. 

Fortunately, there are proactive ways that organizations can deter risk from even happening. Here are the top 3 reasons why proactive tools are the new reactive solutions:

Anonymity is the leader - In the risk mitigation space, there are a number of tools in place that allow people to speak up when something may be wrong so that the situation at hand can be course corrected before it turns into an emergency. Anonymity is an important factor in the risk mitigation space because people share what they see more often when they do not fear retaliation or retribution.

While anonymous reporting is really the minimum threshold you need to get people to report, it can be flawed because there is no way to get more information. How many reports have you seen go to the “dead” pile to never return? Anonymous reporting that allows for anonymous two-way communication solves this issue as it allows for you to ask more questions and get answers so you can take action quickly.

Modern devices are king - Did you know that most people sleep with their phones within reach?* Whether we like it or not, we are a mobile-first society and as a result, it’s easier for people to reach for their phone to communicate than to meet face-to-face. That’s why mobile apps are becoming a quick and easy proactive risk mitigation tool. 

While hotlines and web forms are still in use and provide value, the percentage of people who abandon reporting an issue via those formats far exceeds those who take advantage of it. 

With so many tools having mobile integration as of late, it allows people to say something when they see something happening to themselves and others. When it’s easy for people to report--such as through a mobile app--it provides a seamless experience with little friction.

Incident Management has never been easier - Gone are the days of manilla folders and stacks of paper. Cloud-based incident management is how risk is mitigated proactively because situations are automatically visible for you in one system with paper trails categorized for you automatically. A cloud-based system designed to reduce your time monitoring and managing incidents reported is key. 

Additionally, tools available to improve interdepartmental communication and make incident data available to admin users is a key component to being proactive.

At the end of the day, we need to find ways to make the connected world that we live in work harder for us and proactive tools are the answer. With screens and automation at our fingertips at every turn, this is clearly the way that we, as risk mitigators, can modernize the way that we work to our advantage.

Comments



Marshall Rose

November 13, 2019 at 4:40 PM

Jeff I couldn't agree more, there are many technology tools to help mitigate risk, our firm PINS ADVANTAGE offers one of those tools, PINS is a cloud based collection, storage and management platform for all the insurance certificates and related endorsements every Risk manager collects from contractors, vendors and suppliers, I welcome the opportunity to share more about our platform which is used by a variety of enterprise, please provide a contact and I will reach out, thank you.