Willis Group Holdings has launched Willis DataWize powered by Riskonnect, an enterprise-class risk management information system (RMIS) that gives companies of all sizes a better way to track, manage and control their risks and achieve efficient outcomes.

According to company, with its strategic alliance with Riskonnect, Willis DataWize enables clients to make risk management decisions. The new offering is an enhancement of consulting services offered by Willis strategic outcomes practice, the claim advocacy, risk control and data analytic resource of the company.

The company said that the new system helps clients track all of their loss, exposure and insurance policy data, and provides tools to turn that data into actionable insights. The system brings speed, efficiency and integrity to loss control, claim and placement processes, and identifies trends and measures outcomes that deliver cost savings to client, the company claims.

In addition, the new system features dashboards, scorecards, automatic information alerts, a cost allocation system, and sophisticated modeling and analytics capabilities that help achieve enhancements to entire risk management process.

Don Bailey, chairman and CEO of Willis North America, said: “Willis DataWize embodies that commitment, and serves as the perfect complement to our existing analytical and consulting services. Clients asked us for a technology solution that would allow them to manage all of their risk and exposure information in a way that identifies trends, helps mitigate losses, achieves better claim outcomes and ultimately leads to lower costs and greater value.”