Risk Management · Written by LineSlip Solutions

Breaking Down Silos: How Connected Risk Data Transforms Enterprise Risk Management

3 Key Phases to Mastering the Insurance Renewal Process for Corporate Risk Managers 

For risk professionals managing rapidly growing enterprises, disconnected data isn't just an inconvenience; it's a strategic liability. When critical information sits trapped in separate systems and spreadsheets, organizations lose the agility needed to make confident decisions in today's volatile risk landscape. 

 D'Juana Thomas knows this intimately. As Vice President of Risk Management at Oak View Group, she's navigated one of the most dramatic growth trajectories in sports and entertainment. In four years, her company exploded from operating three arenas to managing over 400 venues globally, growing from 200 employees to 73,000. 

 “My risk landscape is changing so fast that without connected data and without technology, I'm dead in the water. I am dead in the water,” Thomas says. “I don't have the benefit of time because we move so fast. I don't have the benefit of unlimited human resources. So if I'm not taking care of our risk and looking after our risk as we grow and expand using technology, then our outlook for the future would be dim.” 

Her experience illuminates a fundamental truth: disconnected data compounds with every acquisition, every expansion into new markets. 

The Hidden Cost of Siloed Insurance Data 

Insurance data remains stubbornly difficult to consolidate. Unlike claims data that increasingly flows through integrated systems, policy information still arrives the old-fashioned way: contract-based, embedded in massive binders, delivered in proprietary formats by different brokers and carriers. 

Patrick Eslick, Vice President of Product Management at Riskonnect, sees this pattern repeatedly. "If you're multi-brokered with multiple carriers, they provide information in different ways—usually in their own way, in an Excel spreadsheet." 

For Oak View Group, managing 150 policies across 14 countries with multiple brokers meant information was everywhere and nowhere. Thomas couldn't quickly answer fundamental questions: Are all our complexes insured? Where are the coverage overlaps? What exposures remain uninsured? 

"I started with umpteen spreadsheets," Thomas recalls. "Talking to different people about combining information. They're like, 'Give me three weeks.' I needed that yesterday." 

Dylan Lomax, Vice President of Sales at LineSlip, points to increasing program complexity. "What used to take two insurance companies to cover a $10 million limit now requires six or seven. Meanwhile, you still have the same old Excel spreadsheet." 

What Connected Risk Data Really Means 

Connected risk data goes beyond integration—it's about correlation and insight. When policy terms, exposure data, and claims experience connect properly, patterns emerge that would otherwise remain invisible. 

Consider discovering that 60% of losses originate from locations representing just 10% of assets. This insight requires claims data married to policy coverage married to exposure values. Without connection, it stays hidden. With it, remediation begins immediately. 

For Oak View Group, connected data solved critical business challenges. As entities joined through acquisition—each with their own insurance programs—Thomas needed to identify overlaps, consolidate strategically, and ensure nothing fell through the cracks. 

"Having a platform that consolidates policy data gives us a full picture of what we actually have," Thomas explains. "You can see where you're overlapping, where you have opportunities to streamline and consolidate your program." 

From Reactive to Proactive Risk Management 

The transformation Thomas describes transcends operational efficiency—it's about shifting from reactive firefighting to proactive strategy. 

"Insurance is just half the story—it's the finance of risk in the total process," she notes. "When you connect all your data, you get that big holistic picture. It can surface problems you didn't know existed, but that puts you in a better position because the whole point is to be proactive." 

This becomes especially valuable during acquisitions. Without strong data foundations, each new entity compounds existing complexity. With connected data, integration happens systematically. 

"If you don't have a good handle on your current piece, how do you know what that holistic picture looks like when you acquire something?" Eslick observes. "How can you plan for your future organization?" 

The Leverage of Historical Data 

Perhaps nowhere is the value more apparent than in renewal negotiations. When risk managers arrive armed with comprehensive carrier relationship data, premium trends, and loss history, conversations change fundamentally. 

Thomas describes the transformation: "When I look at who I'm insured with, it's surprising. I didn't know I had that much with one carrier. Then I can see how much I've spent versus how much they've paid out. When I present that in renewals, they straighten up in their chair. It’s a powerful position to sit in where you can come in and say, ‘Look, you’ve made some money off us. I need you to go back and sharpen your pencil." 

Lomax emphasizes this advantage. Underwriters typically operate in silos. The crime underwriter may only see crime premium, unaware their company also collects on D&O, auto, property, and excess liability layers. 

"Being able to quantify historical premium across all lines and deploy it for renewals or commercial discussions is what we're designed for," Lomax explains. 

In today's challenging market, this leverage matters. "Whatever I can use to get the best pricing and broadest coverage, I'm gonna use it," Thomas states. 

Building an Operational Ecosystem 

The partnership between Riskonnect and LineSlip addresses both enterprise risk management and insurance policy data management in one integrated solution. 

Thomas values this because it enables a complete operational system. "I'm not just synthesizing data. I'm building our complete workflow: claim feeds directly from carriers, enterprise risk management, risk assessments, compliance. Everything. It's operational and informational." 

This reflects the reality of modern risk management: insurable and uninsurable risks aren't separate domains; they're one integrated portfolio requiring unified visibility. 

Speed as Competitive Advantage 

Throughout the conversation, one theme emerges: speed that enables resilience and agility. 

"Speed matters," Thomas emphasizes. "Connected data lets me get what I need fast. It gives me agility and flexibility." 

In fast-moving industries, this translates to competitive advantage. When booking acts for venues happens rapidly, waiting days for coverage confirmation isn't acceptable. 

"I don't have 24 hours. I'm in a conference call right now. Is this covered?" Thomas explains. "I can go to LineSlip, pull up the policy, do a quick search, and get my answer. It's that seamless, that quick and that easy. And that's what you need for resiliency, flexibility and agility.” 

The Journey Forward 

For risk professionals contemplating their technology journey, Thomas offers pragmatic advice. Start by understanding your workflows and desired outputs. Know what questions stakeholders ask and what information they need. 

"You have to think about it backwards," she suggests. "If you're not sure what that is, the process of connecting your data will flesh it out." 

Most importantly, speak to stakeholders in their language. CFOs care about ROI. Business unit managers want to know operational impact. Address each perspective directly. 

The transformation from siloed spreadsheets to connected risk intelligence isn't merely a technology upgrade—it's a strategic imperative for organizations serious about resilience. As Thomas's journey demonstrates, organizations that master this transition don't just work faster. They think differently, negotiate smarter, and position risk management as the strategic function it should be. 


 

Frequently Asked Questions

 

1. What is connected risk data, and how does it differ from traditional risk data management?  

Connected risk data integrates policy information, claims experience, and exposure data into a unified system that reveals correlations between different data points. Unlike traditional approaches where insurance policies sit in binders, claims data lives in spreadsheets, and exposure information resides with finance or operations, connected risk data creates a single source of truth. This enables risk managers to identify patterns, such as discovering that a small percentage of locations drive the majority of losses and respond proactively rather than reactively compiling information when leadership asks questions. 

2. Why is insurance policy data particularly difficult to consolidate compared to other risk data?  

Insurance data remains uniquely challenging because it's contract-based and embedded in policy documents. Each broker and carrier delivers information in their own proprietary format, typically as PDFs or custom Excel spreadsheets. For organizations with multiple brokers and dozens of carriers, this creates a fragmented landscape where the same information exists in multiple formats across different systems. Additionally, as insurance programs grow more complex—with what used to require two carriers now requiring six or seven—the volume and variety of data sources compounds exponentially while most organizations still rely on manual consolidation methods. 

3. How can connected risk data improve negotiating position during insurance renewals? 

Connected risk data via integrated platforms like Riskonnect and LineSlip Solutions, provides comprehensive visibility into carrier relationships across all lines of coverage, which most underwriters don't have themselves. An underwriter may only see premium from their specific line—such as crime or property—while missing that their company also collects substantial premium across D&O, commercial auto, and multiple excess liability layers. When risk managers can quantify total historical spend and demonstrate loss ratios across the entire relationship, they gain significant leverage. This data-driven approach shifts renewal conversations from defensive posture to strategic negotiation, particularly valuable in hard market conditions where every percentage point matters. 

4. What should organizations consider when building a business case for connected risk data technology? 

Successful business cases address stakeholder-specific concerns rather than generic efficiency arguments. CFOs need clear ROI and cost justification. Business unit leaders want to understand operational impact and how quickly they'll receive risk-related information. Technology officers require integration details and security assurances. The most effective approach involves individual conversations with key stakeholders to understand their priorities and concerns, then addressing these proactively in the formal presentation. Organizations should also consider the compounding cost of inaction—particularly if they're growing through acquisition, where each new entity adds complexity to already siloed systems. 

5. How does connected risk data support enterprise risk management beyond just insurance placement? 

Connected risk data through Riskonnect and LineSlip Solutions provides the foundation for comprehensive enterprise risk management by enabling visibility across both insurable and uninsurable risks. When policy data connects to claims history, exposure information, and risk assessments, organizations can make more informed decisions about risk appetite and capital allocation. This holistic view helps identify uninsured exposures that require alternative risk treatment, reveals opportunities to optimize deductible structures or captive programs, and ensures compliance requirements are met across the entire risk landscape. Rather than managing insurance in isolation, connected data positions risk management as a strategic function that informs broader business decisions.