Benchmarking Services Empower Risk Managers' Decision-making The new online cost of risk benchmarking program developed by the Risk and Insurance Management Society Inc. is another in a series of programs the New York City-based association has devised to drive improvements in services for the entire risk services industry.

According to Chris Mandel, the chief risk officer for RIMS and its immediate past president, the online benchmark survey, developed in partnership with Advisen Ltd., is the most up-to-date benchmarking survey for risk managers. Advisen is an information services company to the insurance industry based in New York City.

In the past, survey results were typically four-to-six months old, Mr. Mandel reported. “And being a practitioner myself, I can understand the frustration with even six-month-old benchmarks,” he said.