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Ventiv IRM helps captives manage increasing volumes of data, whether related to risk, policies, or claims. As a result, captives use data more effectively to manage their programs, while also standardizing and automating processes. Benefits can include:
The Ventiv renewal solution dramatically simplifies and streamlines the renewal-management process. Substantially reduce the time and effort devoted to gathering and managing renewal data. Improve data quality and the ability to process growing volumes of data. Eliminate spreadsheets once and for all and give field users an easy-to-use, survey-style tool that requires no user training.
Few captives manage every aspect of claim adjudication. More and more, TPAs and other vendors (such as case management and bill review) take on claim-management roles. This can have the effect of distancing the captive from claim data and overall claim trends. Ventiv Analytics put captive managers back in charge of claim analysis and reporting.
Ventiv RPA automates tasks that require a great deal of manual, repetitive work. Think claim assignment, severity coding, and certificate tracking—even straight-through processing of relatively simple claims. Any activity is a good candidate for RPA if it requires gathering external data; pointing-and-clicking; typing; double entry of information; values checking; and the like. For captive insurers, Ventiv RPA is a great opportunity to enhance operational efficiency.