Leading RMIS Provider Receives Third-Party Validation of Solution from Risk Industry Experts
ATLANTA, GA (April 12, 2022) – Ventiv Technology, the leading provider of risk, insurance and underwriting solutions, today announces its inclusion as a leading vendor in the 2022 RMIS Report, published annually by Redhand Advisors. This report, which completes a comprehensive review of the risk management information systems (RMIS) industry and its vendors, provides significant third-party validation of Ventiv’s industry-pioneering solutions.
Ventiv is unique among the other solutions featured in the report because of our embedded advanced analytics capabilities,” said Ned Myers, CRO of Ventiv. These capabilities have a measurable impact on customer success across multiple categories, including claims management and administration, captive and risk pool administration, policy program management, and others.
Ventiv is advancing digital transformation across its client base, emphasizing emerging trends like automation, adoption, seamless integrations, and deriving measurable business value. This transformation includes the recent migration of clients from its legacy RiskConsole solution to Ventiv IRM, the company’s forward-looking analytics functionality. It includes Ventiv Predict, which enables users to obtain real-time insights from benchmarking and predictive modeling. These industry-leading AI/ML algorithms help clients predict outcomes, prioritize time and resources, and generate ROI in a way that remains unique to any other offerings.
“Ventiv Technology continues to migrate clients from its legacy platforms to its current IRM and Claims products allowing clients to take advantage of their newest capabilities and technology,” the RMIS Report explains. “They also offer what could be considered industry-leading analytics solutions through a suite of offerings from data discovery and exploration tools to more complex predictive modeling and data science tools.”
As a result of Ventiv’s ongoing efforts to engage with its customers on important issues facing their customers’ businesses, Ventiv saw a more than 100% increase in year-over-year respondent participation. Ventiv clients who participated in the survey reported a 10% YOY improvement overall across categories including: customer experience, implementation experience, system value, system satisfaction, ease of adoption, understanding of the customers’ needs, and effective usage. While the report has a distinct focus on RMIS, Ventiv is also a market leader in Claims Administration and Predictive Analytics.
“In alignment with the trends outlined in the report, Ventiv knows that companies are spending more time, money, and resources on digitally transforming their risk management programs,” said Myers. “Providing an accurate functionality assessment beyond a snapshot in time will become even more critical for vendor evaluations. We are encouraged to see the overwhelmingly positive feedback from our clients in this year’s 2022 RMIS Report and know that our commitment to arming our customers with best-in-class emerging technology will set us apart in the years to come. We’re simply not a company that rests on our laurels, and it’s our commitment to innovate right alongside our clients to anticipate tomorrow’s risks.”
The 2022 RMIS Report reviews the RMIS landscape and offers brief vendor overviews for consumer reference. The report is designed to assist buyers in better understanding the marketplace and solutions available. While the report incorporates the expertise of Redhand Advisors and direct feedback from RMIS users, the authors ultimately recommend that every organization assess its own unique needs and priorities. “One size does not fit all,” says Redhand. “To make an informed decision, a careful needs assessment and business process review must be performed.”
Download the full report or visit Ventiv’s website for more information.
About Ventiv Technology
Ventiv Technology is a leading global provider of risk management information systems (RMIS), enterprise risk management (ERM), insurance claims, billing, policy, and administration technology integrated with its market-leading analytics and predictive models. Ventiv Technology’s SaaS and on-prem solutions are deployed by brokers, insured corporate entities, federal and regional governments, third party claims administrators (TPAs), and risk pools across a variety of industries including transportation & logistics, retail, financial services, leisure & hospitality, carriers & insurers, energy, aviation, manufacturing, government & public entities, and many more.
With over 45 years’ experience, Ventiv proudly boasts over 450 institutions as its customers and more than 350,000 users of Ventiv’s technology in over 40 countries. Ventiv’s global footprint and experienced team of industry veterans delivers insight to organizations that allows our customers to predict, manage, and respond to risk.
For more information, please visit https://www.ventivtech.com.