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Proactive Property-Loss Prevention

Saint-Gobain makes the grade with help from Ventiv risk management software.

 

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Claims Management Software

Make data-driven decisions to improve claim outcomes

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Our claims numbers have increased as the company continues to expand. Claims costs can be significant. With Ventiv's software, we can keep a diligent eye over claims as losses develop. And now, for many claims we simply open an electronic file, which reduces paperwork and archiving.

K&S Freighters

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Advanced Risk Analytics Dashboard

Make better, faster decisions that minimize risk and maximize value with advanced analytics

Gain a deeper understanding of claims, predict outcomes, and take preventive action to optimize your business performance.

Transform your claims data into actionable insight

Optimize your financial performance, streamline processes, and transform raw claims data into actionable intelligence.

Reduce costs while improving data intake

Expedite claims reporting to reduce costs while gathering better incident information.

Gain better insights into legal and claim administrators

Proactively manage your legal and service providers with greater insight into performance, expenses, and risk.

See the big picture and take action early

Integrate multiple sources of data to predict how a claim is likely to unfold. Identify claims that have the potential to “jump,” and take proactive steps to mitigate costs.

Understand and predict claim trends

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

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

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 detail. View, add, edit, and remove all claim records. In addition to commonly used claims management fields, client-specific custom data fields are available.

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

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

Improve incident reporting while reducing costs

With an efficient incident intake process, you can quickly get your incidents and claims notified, which is a key factor in reducing the closed lag time and overall claim costs. Quick reporting 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 can make corrective actions faster to prevent similar incidents and reduce costs.

Take your incident reporting up a notch while reducing 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, claim, safety, policy, and exposure data. Gain an enterprise-wide view of critical legal data and improve high-level decision making.

With 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 key performance indicators regarding your legal resources, TPAs, and service providers to enhance your organization’s profile and drive down costs.

Identify “jumper” claims early and mitigate costs with preventive action

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

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Let’s talk about how we can move your business forward.

 

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Why should Risk and Claims Managers use AI-Powered Analytics?

This short video covers 7 reasons just focused on claims.

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