Top 10 Risk Management Information Systems (RMIS): Features, Pros, Cons & Comparison

Introduction

A Risk Management Information Systems (RMIS) is a specialized software platform used to collect, manage, and analyze risk, claims, and insurance data. At its core, an RMIS acts as a single source of truth for an organization’s risk profile. It moves beyond simple spreadsheets by integrating directly with insurance carriers, third-party administrators (TPAs), and internal HR or safety systems to automate data ingestion and provide real-time visibility into total cost of risk (TCOR).

The importance of RMIS tools lies in their ability to transform reactive “damage control” into proactive risk mitigation. By identifying patterns in workplace injuries or tracking property exposure values globally, organizations can optimize their insurance premiums and reduce future losses. Key real-world use cases include managing high-volume workers’ compensation claims, certificate of insurance (COI) tracking, and enterprise risk management (ERM) assessments. When choosing a tool, users should evaluate the system’s ability to handle multi-currency/global operations, the quality of its predictive analytics, and its ease of integration with external financial systems.

Best for: Risk managers, CFOs, and insurance professionals in large corporations, government agencies, and mid-sized firms with high claims frequency or complex insurance portfolios. It is especially beneficial for industries like construction, healthcare, and retail where safety and liability tracking are constant priorities.

Not ideal for: Very small businesses with minimal insurance needs or straightforward risk profiles that can be managed through a standard insurance broker’s portal. It may also be overkill for organizations that do not have a dedicated risk management function or a significant volume of claims to analyze.

Top 10 Risk Management Information Systems (RMIS) Tools

1 — Origami Risk

Origami Risk is widely regarded as one of the most flexible and modern RMIS platforms available today. Built on a single, integrated codebase, it offers a suite of tools that cover everything from safety and claims management to advanced analytics.

• Key features:
  • Unified platform for RMIS, GRC (Governance, Risk, and Compliance), and EH&S.
  • Highly customizable dashboards and automated reporting.
  • Integrated claims management and TPA data consolidation.
  • Advanced safety management tools, including mobile auditing and incident entry.
  • Values collection modules for streamlining annual renewals.
  • AI-driven predictive modeling for claims outcomes.
• Pros:
  • Known for having the most intuitive user interface in the industry.
  • Exceptionally fast implementation times compared to legacy competitors.
• Cons:
  • The high level of configurability can be overwhelming for novice users.
  • Premium pricing reflects its status as a top-tier market leader.
• Security & compliance: SOC 1 & 2 Type II, HIPAA compliant, ISO 27001, and robust SSO integration.
• Support & community: Industry-leading client service with dedicated service colleagues for every account and a comprehensive online learning center.

2 — Riskonnect

Riskonnect is an enterprise-wide risk management platform built on the Salesforce infrastructure. It is designed to break down silos between different types of risk, offering a “holistic” view of an organization’s exposure.+1

• Key features:
  • Native integration with the Salesforce ecosystem for CRM-like ease of use.
  • Comprehensive Claims Administration and Healthcare Safety modules.
  • Integrated Vendor Risk Management and Internal Audit features.
  • Policy and Program Management for global insurance portfolios.
  • Visual “Risk Correlation” maps to show how different risks impact one another.
  • Robust mobile capabilities for field-based incident reporting.
• Pros:
  • Ideal for organizations already using Salesforce; minimal learning curve for the platform.
  • Excellent for global organizations requiring deep multi-language and multi-currency support.
• Cons:
  • Being built on Salesforce means users are subject to Salesforce’s maintenance windows and UI updates.
  • Can feel “clunky” if the organization doesn’t require the full breadth of its enterprise features.
• Security & compliance: Built on Salesforce’s Shield security; SOC 2, GDPR, and FedRAMP authorized.
• Support & community: Extensive documentation and a large global user community due to its Salesforce roots.

3 — Ventiv Technology

Ventiv (formerly Aon eSolutions) provides a range of RMIS and claims administration software focused on depth of data and advanced analytics. It caters primarily to high-end enterprise users and TPAs.

• Key features:
  • Ventiv IRM (Integrated Risk Management) for predictive modeling.
  • Deep claims administration functionality for self-insured organizations.
  • Data-science-driven insights for litigation and settlement forecasting.
  • Sophisticated Certificate of Insurance (COI) tracking.
  • Exposure management and values collection for complex property portfolios.
  • Automated TPA data cleaning and standardization.
• Pros:
  • One of the most powerful analytics engines for identifying “hidden” risk trends.
  • Decades of industry experience, making their data models highly reliable.
• Cons:
  • The legacy interface (in some modules) can feel less modern than Origami or Cuentas.
  • Implementation can be complex and time-consuming for smaller teams.
• Security & compliance: ISO 27001, SOC 1 & 2, HIPAA, and GDPR compliant.
• Support & community: Strong professional services team for custom integrations and large-scale data migrations.

4 — ClearRisk

ClearRisk is a cloud-native RMIS designed specifically for mid-market companies and local governments. It focuses on making risk data accessible and affordable without sacrificing the core functionality needed for claims management.

• Key features:
  • Streamlined claims and incident management specifically for cities and municipalities.
  • Automated workflows for certificate of insurance (COI) tracking.
  • Simplified data entry for non-risk professionals.
  • Robust asset and property tracking for insurance purposes.
  • Built-in cost-benefit analysis tools for risk mitigation strategies.
  • Easy-to-read executive dashboards for board reporting.
• Pros:
  • High “value-to-price” ratio; much more accessible for mid-sized organizations.
  • Excellent focus on the public sector and municipal risk management.
• Cons:
  • Lacks some of the “deep” predictive AI found in high-end enterprise systems.
  • Integration library is smaller than some of the larger market incumbents.
• Security & compliance: SOC 2 Type II and HIPAA compliant.
• Support & community: High customer satisfaction scores; very approachable and responsive support team.

5 — Resolver (A Diligent Brand)

Resolver, now part of Diligent, focuses on the “Corporate Resilience” aspect of risk. While it functions as an RMIS, it leans heavily into incident management and security risk.

• Key features:
  • Specialized incident management for security and corporate physical risk.
  • Corporate investigation and root cause analysis tools.
  • Enterprise Risk Management (ERM) and regulatory compliance modules.
  • Advanced data visualization for identifying incident hotspots.
  • Threat assessment and whistleblower management.
  • Integrated audit and compliance tracking.
• Pros:
  • Unmatched for physical security and corporate incident investigation.
  • Seamlessly integrates with the broader Diligent GRC ecosystem.
• Cons:
  • Not as specialized in “pure” insurance claims/TPA management as Origami or Ventiv.
  • Some users find the transition to the Diligent platform changes the UI experience.
• Security & compliance: SOC 1, 2, and 3; ISO 27001, and FedRAMP.
• Support & community: Global presence with 24/7 support and a robust university-style training portal.

6 — Quantivate

Quantivate offers a highly integrated GRC and RMIS suite that is particularly popular in the financial services and credit union sectors. It focuses on regulatory risk and operational resilience.

• Key features:
  • Integrated Business Continuity Planning (BCP).
  • Vendor management and third-party risk assessments.
  • Regulatory compliance and internal audit management.
  • Loss data collection and analysis.
  • Strategic risk planning tools.
  • Automated alert systems for compliance deadlines.
• Pros:
  • The best choice for financial institutions needing to satisfy strict regulatory examiners.
  • Excellent at mapping risks across different business departments.
• Cons:
  • The UI is functional but lacks the high-end design of newer SaaS competitors.
  • Less focused on workers’ compensation claims compared to traditional RMIS tools.
• Security & compliance: SOC 2 Type II, FFIEC compliant, and robust encryption standards.
• Support & community: Dedicated account managers and a very strong focus on US-based support.

7 — SAI360

SAI360 provides a modular approach to risk, combining learning/training with traditional GRC and RMIS functionalities. It is designed for organizations that want to build a “culture of risk awareness.”

• Key features:
  • Integration of risk management software and ethics/compliance learning.
  • Health, Safety, and Environmental (EHS) modules.
  • Automated conflict of interest and gift tracking.
  • Sophisticated incident management with mobile accessibility.
  • Regulatory change management feeds.
  • Global risk mapping for large-scale operations.
• Pros:
  • Unique combination of software and training content helps influence employee behavior.
  • Very strong international presence and multi-regulatory support.
• Cons:
  • Can be complex to buy because of the many modular options.
  • Initial configuration requires a significant investment of time.
• Security & compliance: ISO 27001, SOC 2, GDPR, and HIPAA compliant.
• Support & community: Strong global support network with regional experts in European and Asian markets.

8 — Archer (by Archer Technologies)

Archer is a legacy giant in the GRC and RMIS space. It is designed for the most complex, highly regulated global environments that require deep customization and vast scalability.

• Key features:
  • Highly granular access controls for large, decentralized organizations.
  • Comprehensive Enterprise Risk Management (ERM) framework.
  • IT and Security Risk management integration.
  • Massive library of “App-Packs” for specific industry regulations.
  • Advanced quantification of operational risk.
  • Dynamic workflow engine for cross-departmental risk tasks.
• Pros:
  • The “gold standard” for scalability; can handle thousands of concurrent users.
  • Virtually every aspect of the platform can be customized to fit unique business needs.
• Cons:
  • Extremely high cost and complex implementation; usually requires a dedicated consultant.
  • Can be “over-engineered” for companies with straightforward risk needs.
• Security & compliance: FIPS 140-2, FedRAMP, SOC 2, and ISO 27001.
• Support & community: Massive “Archer Community” where users trade custom apps and solutions.

9 — LogicManager

LogicManager focuses on “Performance-Based Risk Management.” It is a modern, user-friendly GRC/RMIS platform that emphasizes the connection between risk and business goals.

• Key features:
  • Taxonomy-driven risk assessments for high data consistency.
  • Automated “To-Do” lists and task management for risk owners.
  • Incident management and root cause analysis.
  • Ready-to-use templates for various risk frameworks (COSO, ISO).
  • Integrated vendor risk and business continuity planning.
  • Intuitive heatmap and reporting engine.
• Pros:
  • Fast implementation with a focus on immediate ROI.
  • Excellent customer service model with “unlimited” support on most plans.
• Cons:
  • Dashboard customization is slightly more restricted than Origami Risk.
  • Not as deep in high-volume claims administration as Ventiv.
• Security & compliance: SOC 2 Type II, HIPAA, and GDPR compliant.
• Support & community: Famous for their “no extra charge” support model and high-touch customer success.

10 — Aclaimant

Aclaimant is a specialized RMIS that focuses specifically on the “workflow” of safety and claims. It is designed to be used by front-line employees to reduce the time between an incident and its resolution.

• Key features:
  • Digital incident reporting for the “deskless” workforce.
  • Automated claim submission to carriers and TPAs.
  • Task-based workflow to ensure safety protocols are followed post-incident.
  • Safety and compliance checklists for field teams.
  • Real-time visibility into claim “lag time.”
  • Predictive analytics focused on reducing TCOR.
• Pros:
  • Exceptional for industries like construction where incidents happen “in the field.”
  • Drastically reduces the administrative burden of reporting claims.
• Cons:
  • Narrower in scope than a full GRC suite like Archer or Riskonnect.
  • Newer to the market, so its integration ecosystem is still expanding.
• Security & compliance: SOC 2 and encrypted data at rest and in transit.
• Support & community: High-touch onboarding and training for field personnel.

Comparison Table

Evaluation & Scoring of Risk Management Information Systems (RMIS)

A successful RMIS implementation relies on more than just “cool features.” The following table outlines how we weight and evaluate these platforms based on real-world IT and Risk Management requirements.

Which RMIS Tool Is Right for You?

Selecting an RMIS is a long-term commitment. Changing systems involves significant data migration and retraining.

• Solo Risk Managers or Small Firms: If you are a one-person risk department, look for LogicManager or ClearRisk. They provide the necessary structure without the high administrative overhead of enterprise systems.
• Construction & Logistics: If your primary goal is reducing accidents on job sites, Aclaimant or Origami Risk (Safety module) are the strongest choices due to their mobile-first incident entry.
• Banking & Finance: Quantivate or Archer are the best fits here, as they are built to withstand the scrutiny of government regulators and examiners.
• Large, Multi-National Corporations: If you have thousands of users across 20 countries, Archer or Riskonnect are designed to handle that scale, while Ventiv offers the best multi-currency reporting.
• Healthcare Organizations: Prioritize tools with strong patient safety and HIPAA compliance features like Riskonnect (Healthcare module) or Origami Risk.

Frequently Asked Questions (FAQs)

1. What is the difference between GRC and RMIS? GRC (Governance, Risk, and Compliance) is a broad framework for managing corporate strategy and regulations. RMIS is a specialized subset focused on insurance, claims, and financial risk data.

2. Can an RMIS integrate with my insurance broker? Yes. Most modern systems are designed to ingest data directly from insurance carriers and Third-Party Administrators (TPAs) to eliminate manual entry.

3. Is data migration from spreadsheets to an RMIS difficult? It is the most critical part of implementation. Top-tier vendors provide data specialists to clean, map, and import your historical claims data safely.

4. How much does an RMIS cost? Pricing varies wildly based on user count and claims volume. Mid-market solutions may start at $15k–$20k/year, while enterprise systems can exceed $200k/year.

5. Does an RMIS help reduce insurance premiums? Indirectly, yes. By providing clear data on your loss history and safety improvements, you can prove to underwriters that your organization is a “better risk,” leading to more competitive pricing.

6. What is “TCOR” in the context of RMIS? Total Cost of Risk. It includes insurance premiums, self-insured losses, administrative costs, and risk control expenses. An RMIS helps you track all these in one place.+1

7. Can front-line employees use these systems? Yes, tools like Aclaimant and Origami have mobile apps specifically designed for field workers to report accidents or safety hazards instantly.

8. Is my data secure in a cloud-based RMIS? Most leading providers use military-grade encryption and have SOC 2 Type II certifications. Always ask about their specific data residency and disaster recovery protocols.

9. How long does implementation take? A simple RMIS rollout can take 3–4 months. Complex, global enterprise implementations with multiple integrations can take 9–12 months.

10. Can I track Certificates of Insurance (COI) in an RMIS? Yes, COI tracking is a standard feature for most RMIS tools, allowing you to ensure your vendors and contractors are properly insured at all times.

Conclusion

The evolution of RMIS has moved from simple digital filing cabinets to predictive powerhouses. The “best” system isn’t the one with the most buttons; it’s the one your team will actually use to report incidents and analyze trends. As the landscape of risk shifts toward cyber threats and climate change, having a robust data foundation is the only way to ensure your organization remains resilient. Prioritize ease of integration and user adoption, and you will find that your RMIS is the most valuable investment in your IT stack.