Business Insurance RMIS Article - RMIS-Web -
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Published on: 12/1/2003
Last Visited: 9/24/2006
But the paperless world doesn't necessarily suit larger accounts or their underwriters, noted Deborah Gaffney, casualty risk manager at the Southern Cos. in Atlanta and president of the Atlanta chapter of the Risk & Insurance Management Society Inc.
The subject of online binding of coverage has been discussed at Atlanta RIMS chapter meetings, said Ms. Gaffney.But as risk managers cope with the hard market, they've had to focus their resources on risk management needs rather than working on something "new and different," she said.
In addition, many of the large accounts believe that underwriters, particularly those in London, prefer paper anyway, said Ms. Gaffney.And there remain concerns about the security of Internet transactions, she said.
"With a large account, you just can't answer a question in a standard way; normally, it needs more explanation.You run into applications that are sort of one-size-fits-all that don't seem to be able to be tailored to individual accounts," she said.
The big question for risk managers is, "How can you get it to fit the needs of diverse large accounts?"said Ms. Gaffney.
"In a perfect world, it sounds great, but for the user who actually has to use it, it ends up creating more work," she said.
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