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Expect more from renewals technology

Navigate your way through the Ventiv renewals roadmap to identify what you should expect from a new generation of automated renewals tools.

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Complete technology solutions for captive insurers

Many managers of captive insurers handle their risk and insurance needs with a variety of ad-hoc (typically spreadsheet-based) and localized systems. As captives grow in complexity and responsibility, however, informal systems and processes are often inadequate. Today’s captive must be flexible in its use of data not only to respond to reporting requests from its parent company, regulators and other stakeholders, but also to satisfy growing operational demands.

Captive Insurer Solutions

Captive Insurer Solutions

Overcome key challenges with Ventiv Technology

Numerous captive insurers rely on Ventiv to manage rapidly expanding reporting burdens and underwriting requirements impacted by claims, policies, and their associated financial movements. In some cases, both the captive and the corporate parent use a combined technology solution.

Through automation and intelligent reporting and analysis, organizations can reduce expenses, increase productivity, improve satisfaction, and drive strategic business decisions. From captive-program management, consolidating data, tracking and valuing exposures, providing automated and accurate pro forma calculations, and premium management, Ventiv automates most manual tasks.

Ventiv’s captive technology solutions increase accuracy and security and provide comprehensive reporting, which enables real-time analysis. From loss ratio calculation and premium detail to trend analysis and packaging information for re-insurance purposes, our reporting and analytic capabilities generate real-time reportable and actionable information.

Captive Operations Supported by Ventiv

Supported-Captive-Operations
Pool Admin

Captive Administration

Ventiv IRM automates and improves the captive insurer’s crucial functions

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:

  • Elimination of multiple systems, including both ad-hoc and legacy databases.
  • Ability to allocate premiums in an auditable manner for tax compliance and year-on-year transparency for the business units.
  • Claims financials allocation resulting in the production of insurance bordereaux to recover from commercial insurance and reinsurance market.
  • Information and reporting available for preparing regulatory submissions.
  • Integration of insurance financial transactions with corporate accounting systems.
  • Overall improvement of business processes.

LEARN MORE ABOUT ventiv IRM →

Policy Portal

Policy Administration and Underwriting

Automate processes, streamline access to data, and deliver timely information

Designed from the ground-up for alternative risk organizations that underwrite insurance, Ventiv Policy™ is a flexible tool built for the modern insurance landscape and sets the standard for policy-administration systems. Ventiv Policy is a user-friendly, end-to-end policy-administration platform designed to guide insurers through all processes from underwriting to renewal.

Ventiv Policy delivers captive-specific renewal and new business processes support for:

  • Captive, member, agency, carrier and contacts management
  • Premium & pro forma calculations
  • Collateral/letter of credit management
  • Invoicing
  • Premium reconciliation
  • Financial reporting

LEARN MORE ABOUT ventiv policy →

Claims Administration

Core Administration

Ventiv Claims™, the examiner-preferred system for self-administered captive insurers

As claim costs and expenses escalate, self-administered captives need a core administration system that promotes an efficient and sustainable claim system. Ventiv Claims automates processes, improves productivity and consistency, and delivers the efficiency gains claim organizations need.

Learn more about ventiv claims →

Simplify and improve the renewal submission process

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.

Learn more about ventiv renewal management →

Analytics

Advanced Analytics

Understand claim trends with Ventiv Analytics

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.

Learn more about ventiv Analytics →

Ventiv robotic process automation delivers flexible, cost-effective automation

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.

 Learn how Ventiv RPA integrates Ventiv solutions with almost any third-party application →

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Our team can help your organization solve its risk, claims and safety management software needs.

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