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Published on: Allgemein

Austrian software "rismo" revolutions risk management

The user-friendly tool rismo gives entrepreneurs a quick, up-to-date and convenient overview of their company-specific risks at any time. Across all sectors and at the push of a button. Comprehensive, transparent and precise. With figures, data and facts. In this way, they can easily, intuitively and at a glance record, compare and evaluate risk potentials - supported by state-of-the-art technology and the know-how of the risk on mind® experts.

The Mastermind behind the effective risk software is Markus Oswald. IT expert tinkered meticulously with this outstanding tool. In this interview, he talks about the motivation, the advantages for entrepreneurs and what the future will bring.

Mr Oswald, what motivated you and risk on mind® team to develop software that maps a company‘s risks?
Markus Oswald: We have been active in risk consulting for years. Many companies are required to have comprehensive and professional risk management. Partners like banks, insurances, brokers, investors, customers and suppliers also want to protect themselves and demand that also companies do so. Sometimes it is handled with stepmotherly care, sometimes it is outsourced. However, important is that entrepreneurs themselves are aware of the different risk potentials, that they see which screws they can turn to eliminate, reduce or economically secure risks as early as possible. This is the only way for long term success. With rismo, we want to use digital support to raise awareness of risks in our own operations and show where costs can be saved efficiently and effectively, for example if the Top Risks can be viewed with one click.

What was the main focus during the development of rismo?
Markus Oswald: From the very beginning, comprehensive, clear results and intuitive, quick- to-understand operation were important to us. We focus on customer benefit during development. With rismo, we have succeeded in presenting the entire risk potential of a company in a transparent, comprehensible and comprehensive way. Independent of the specific branch and the size of a company, the results are clear and meaningful - even for non-risk managers.

You are a man of hard numbers. To what extent is that reflected in rismo?
Markus Oswald: Numbers don‘t lie. They are clear, eye-opening and provide direction, especially when they are combined with basic statistical data. With the „rismo stat“ add- on, which will be available soon, entrepreneurs can use the extensive and meaningful statistical values of the past 20 years and compare them with their own company data and risk potentials, as well as to preassign probabilities of occurrence as well as the extent, quickly and easily. This way, they know exactly where their own company stands regarding risk at any time. With the add-on „rismo forms“ they can also access existing questionnaires and objectify risk assessments.

What was the biggest challenge for you in developing rismo?
Markus Oswald: rismo provides a well-grounded basis for deeper (quantitative) analyses where these are needed. The challenge was to find a presentation and operation that attracts and convinces both, laymen and professionals.

What exactly does rismo offer to entrepreneurs?
Markus Oswald: rismo stands for a clear, always up-to-date risk overview. The software models a company-specific risk tree, never forgets a risk, supports risk assessment with questionnaires, can preassign specific risk assessments using a NACE code from the statistics, compares the risk potentials of different locations, shows trends and time courses of risk conditions and thus the effectiveness of measures, and allows necessary measures and actions to be read and set according to the company-specific needs. It is characterised by flexible adjustment of risk potentials and clear representations in heat maps. It is the perfect analysis tool that offers added value to every business and - regardless of how the risk was previously managed - reduces the effort.

Does rismo also bring advantages for entrepreneurs in their cooperation with insurance companies?
Markus Oswald: Yes. It strengthens a company if a clear understanding of its risks and how to manage them is achieved. Securing residual risks cost-effectively belongs to risk management. Many well-known insurance companies and brokers rely on rismo‘s clear results and holistic recommendations for action, because the correct disclosure and assessment of circumstances and risks are the be-all and end-all of ensuring that a company is properly insured in the case of a claim. Another special feature is that rismo reports in compliance with IDD. The automated reports are a transparent basis for communication within the company and with insurance companies or brokers. This also saves time, money and nerves for everyone involved.

What is planned for the near future? In which direction will rismo develop?
Markus Oswald: rismo currently supports qualitative risk management. We are constantly expanding rismo and also invite companies to become part of the community and incorporate their company-specific needs and wishes. Among other things, we are currently working on adding semi-quantitative and quantitative components and calculations (Monte Carlo simulations).

Thank you very much for the interview and good luck in the future!