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Risk Management Industry News for FCA Regulated Businesses

Medical Indemnity Protection Society selects Xactium to Widen Risk Ownership

Posted by Sarah Spencer on Thu, Mar 01, 2018

MIPS logo RGB horizontal_onlineWith a growing membership base and ever increasing complexity of business, Medical Indemnity Protection Society (MIPS) recognised the need for centralised business administration of risk and incident management.

Having historically used spreadsheets to manage risk across the business, MIPS has selected Xactium to achieve greater transparency, collaboration, and automation of processes.

MIPS is a not-for profit organisation established in 1988 to protect the interests of Australian healthcare professionals and students.  MIPS’s main role is to assist members in the event that there is an adverse outcome in the course of their professional practice. This assistance includes collegiate support, advice and education opportunities,  in addition to the management of complaints and claims against members.

With Xactium at the core of the MIPS risk management framework, features such as structured treatment plans, risk templates and workflow automation will allow risk professionals to focus on key objectives, which will ultimately lead to more effective risk mitigation.

Lucian Burns, Manager - Information and Projects at MIPS, explains: “Xactium has developed a superior risk and incident structure, which combined with the power and flexibility of the Salesforce platform promises robust and very wide business utility and value. Xactium provides a compelling out of the box solution.”

Andy Evans, Xactium Manager Director adds:  “I am delighted that MIPS has selected Xactium to move them into a new era of risk management.  One of Xactium’s key differentiators is the usability of the system, which will help MIPS to roll out to employees across the organisation, widening risk ownership and increasing risk visibility across all areas of the business.”


- About Xactium -

Xactium is a cloud based GRC software provider that helps Risk Managers to transform the way that organisations evaluate and manage their enterprise risk. The value of the risk process and its profile is raised through the use of risk intelligence that improves efficiency and creates insights that influence decisions across the business.

Xactium is the world's first enterprise risk-intelligent system, with the revolutionary use of embedded AI (Artificial Intelligence), 3D visualisation and automation that dramatically improves efficiency and creates innovative analytics. Reporting is made easy and timely, and predictive insights enable senior managers to prioritise resources.

Xactium is also built for managing change and is probably the most flexible and configurable enterprise risk management system available today. This adaptability ensures that our customers stay up to date and able to respond to both business and regulatory change, without the need for costly bespoke programming.

Overall, Xactium releases more time and resource for the risk team to help promote best practice and demonstrate the value of risk across the business through actionable insight.