Insurance Claims Management System

Understand and predict unfolding claim trends

Whether you self-administer insurance claims or use a third-party claims administrator, Ventiv's insurance claims management system allows you to gain control over critical priorities: incident intake, claims consolidation and administration, supervision, and legal risk and litigation management.

Consolidating insurance claims data from multiple sources provides standardized data for better insight and understanding of the risk your organization faces.

With Ventiv, track all claim details, including description and causes of the loss, through to the financials. Define your claim types as well as payment buckets, transactional values, and claim payment details. In addition to commonly used claims management fields, client-specific custom data fields are available.

With complete, more accurate, and reliable information you can:

• Monitor claim trends and identify key loss drivers
• Provide accurate loss history and loss triangles to your actuary for optimal risk placement
• Determine the best split between retention and transfer of risk
• Establish optimal reserves and avoid under-reserving
• Promote successful coverage outcomes, including prompt claim payments

Improve incident reporting while decreasing costs

With an efficient incident intake process, you can quickly get your incidents and insurance claims notified, which is a key factor in reducing the closed lag time and overall claim costs. Ventiv's provides quick reporting that also allows for more accurate analysis of trends and root causes. Capture the information you need with dynamic questions sets to ensure maximum accuracy of the submission.

Since incidents are immediately available for investigation, administration, reporting and analytics, you are able to make corrective actions faster to prevent similar incidents and reduce costs.

Maximize the impact of your legal and service provider

Create a single system for analysis and risk reporting by linking litigation information with incident, insurance claim, safety, policy, and exposure data. Gain an enterprise-wide view of critical legal data and improve high-level decision making.

With Ventiv's insurance claims management system all your legal and litigation data in one platform, you can segment and evaluate information from virtually every angle. Now you can analyze data by business unit, product, exposure, law firm, or matter type.

Monitor a range of KPIs regarding your legal resources, TPAs, and service providers to increase your organization’s profile and drive down costs.

Discover “jumper” insurance claims early and reduce costs with preventive action

“Jumper” or “sleeper” insurance claims account for 40% of the $60 billion paid each year for workers’ compensation benefits. With Ventiv's insurance claims management system and predictive analytics, you can now integrate multiple sources of both internal and third-party information to predict how a claim is likely to unfold.