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Policy and Program Management

Streamline the way you manage insurance

Total visibility

Make informed decisions by understanding the policies you have in place, the cover and premium expenditure.

Spot coverage gaps and overlaps

Eliminate duplicate policies, eliminate coverage gaps and identify opportunities for new global cover.

Monitor Policy Performance

Understand your policy loss ratios and help target poor performing areas plus keep a tight track on any aggregate positions.

Protect against credit exposures

Be proactive in monitoring your insurers’ financial ratings; especially for historic programs and vendors' policies.

Many companies (especially those with multinational operations) could use some help in managing their increasingly complicated insurance requirements. Ventiv empowers you to take a holistic approach to managing your policies and insurance program.

Our policy and program management capabilities help you ensure adequate global cover is in place; remain compliant with each local country’s regulations; monitor the erosion of policy limits; track performance, premium spend and insurer exposure; and identify any duplication and/or gaps in cover.

Policy Program Mud Map Report

Get a complete picture of your Insurance program

Having a complete picture of your overall insurance program is key to having the optimal insurance cover and expenditure. With Ventiv, you get total access to your entire portfolio of policies, for all lines of business, from global to local, in one system.

Ventiv's policy and program management modules significantly reduces your administrative burden by keeping all your policies in one place. The system also:

  • Keeps track of all costs, including fees and taxes, related to your policy program.
  • Maintains details on all your cover, including deductibles, limits and any policy documentation; this is invaluable for establishing a historic archive for long-tail claims.
  • Shows participating insurers’ entire exposure to your organization.

Get a consolidated view of local and global policies

Ventiv eliminates the time and effort needed to see your entire insurance policy program. Reports show you what risks are insured, all participating insurers and co-insurers and where any policies overlap. Quickly spot gaps and overlaps in cover and instantly see information about all your insurance policies and understand how they contribute to your overall insurance policy landscape.

At the click of a button, Ventiv delivers information about each policy as well as your aggregate program. You configure the Ventiv modules and reports to show what you want, such as limits, deductibles, effective dates, conditions, variations, sub-limits, premiums, brokerage, insurer panel and more.

Premium Analysis
Policy_Loss.png

Proactively respond to policy performance

You’ll accurately evaluate the performance of all your policy programs. Monitoring the loss ratios and identifying poor performing areas with the ability to follow up with targeted loss control programs. Keeping an eye on the erosion of your aggregates and policy limits in real-time. Ventiv empowers you to make the right management decisions and reserving for potential losses.

Automate and accelerate how you manage certificates of insurance

When done manually, managing certificates of insurance is almost invariably a time-consuming task. What’s more, it can be quite complex to comply with the regulatory requirements around insurance contracts and the display of certificates. By contrast, the typical Ventiv user slashes the time needed taken from request for a certificate to issuance by 90 percent.

Ventiv gives you the power to automate and streamline the management of incoming certificates of insurance. Define custom insurance requirements based on the type of vendor or contract. Track each vendor’s compliance with those requirements. And set up automated email reminders to vendors, business units and your organization’s insurance department whenever a certificate is past due or out of compliance.

Policy CreditRating

Mitigate exposure to counter-party credit risk

After you’ve transferred your risk, it’s critical that you effectively manage exposure to counter-party credit risk. Ventiv gives you the complete picture by monitoring the credit rating of every insurer named in each and every one of your organization’s policies.

Evaluate your organization’s credit risk exposure to any insurer at a moment’s notice. Build comprehensive, up-to-date reporting on the collective health of insurers for every line of coverage your organization carries. If an insurer’s credit rating should change, email alerts tell you right away.

HISTORIC PREMIUM SPEND

Ventiv enables you to quickly run comparison reports showing total spend on insurable risk and how it has changed over time. Check that the sums insured match changing exposure values or local aggregations. Identify and track acquisition costs, including brokerage fees and taxes.

TASK AUTOMATION

Set up workflows that organize your policies and create custom notification emails that alert you when a policy is nearing its expiration date, when there are changes in cover and more.




LINK TO CLAIMS

Link your claims information directly to the correct policies to monitor policy performance via loss ratios. Track aggregates and limits across your entire policy program and for every line of business.



LINK TO EXPOSURES

Ventiv tracks assets and associates them with policies. This enables you to see year-on-year how much has been spent on insurance premiums for an individual asset.



IDENTIFY INSURERS & PROGRAM STRUCTURE

Ventiv enables you to identify lead and co-insurers along with their percentage of participation. With this level of detail, policy records can display claims costs or loss ratios by participating insurers and layers. Moreover, RiskConsole allows for fronting, reinsurance and captive management arrangements.

CLAIM FINANCIAL ALLOCATIONS

Ventiv enables you to fully control claim financials from-ground-up to how they impact your program across all layers including insurer, co-insurer and re-insurer positions. Whether notifying reinsurers or recovering from reinsurers, Ventiv allows you to manage your fronting, reinsurance and captive management arrangements.

Infrastructure
Telecommunications

Abertis Group

"What we wanted was all businesses working within a single tool, gathering policy and claim administration information for each business and creating a global vision." Read More >

CRISTINA ALONSO DE PABLO

Head of corporate insurance unit

Abertis Group

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