Principles of Risk Management and Insurance, 13th Edition

Other Risk Management Tools

Our discussion of advanced risk management topics would not be complete without a brief discussion of some other risk management tools. These tools include:

• Risk management information systems (RMIS)

• Risk management intranets

• Predictive analytics

• Risk maps

• Value at risk (VAR) analysis

• Catastrophe modeling

Risk Management Information Systems (RMIS)

A key concern for risk managers is accurate and accessible risk management data. A risk management information system (RMIS) is a computerized database that permits the risk manager to store, update, and analyze risk management data and to use such data to predict and attempt to control future loss levels. Risk management information systems may be of great assistance to ...