Are you using the Intel ® RAID Web Console 2 Client Only Installation?
RAID Web Console 2 Client Only Installation on the Client system doesn't support configuring email/alerting settings on local system.
On the management PC use Complete Installation of RAID Web Console 2 instead of Client Only.
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The RAID Web Console 2 has extremely limited configuration options. If you have this chip installed in a server running Windows Server operating system, you can set up a local SMTP relay on the server, and point the RWC2 to the local server for mail delivery. That's how I have mine set up on Windows Server 2008 R2. Let me know if you don't know how to do this.