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Proactive Property-Loss Prevention

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

 

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Policy & Program Management

Transform how you manage insurance and improve your program performance

Achieve total visibility

Make informed decisions by understanding your policies, coverage, and premium expenditure.

Find coverage gaps and overlaps

Eliminate duplicate policies, close coverage gaps, and identify new opportunities.

Monitor policy performance

Understand your policy loss ratios, target poor-performing areas, and closely track any aggregate positions.

Protect against credit exposures

Be proactive in monitoring your insurers’ financial ratings, especially for historic programs and vendors' policies.

Get a complete picture of your insurance program

With a complete picture of your overall insurance program, you can obtain optimal insurance coverage and expenditure. 

  • Gain total access to your entire portfolio of policies in one system. 
  • Reduce your administrative burden. 
  • Keep track of all costs, including fees and taxes, related to your policy program.
  • Maintain details on all your coverage, including deductibles, limits, and any policy documentation. This is invaluable for establishing a historic archive for long-tail claims.
  • Show participating insurers’ entire exposure to your organization.

Get a consolidated view of local and global policies

Reduce the time and effort needed to see your entire insurance policy program. Easily view which risks are insured, all participating insurers and co-insurers, and where any policies overlap.

Quickly spot gaps and overlaps in coverage and determine how your insurance policies contribute to your overall program. 

Proactively respond to policy performance

Accurately evaluate the performance of all your policy programs:

  • Monitor loss ratios and identify poor-performing areas with the ability to follow up with targeted loss control programs.
  • Keep an eye on the erosion of your aggregates and policy limits in real time.
  • Make the right management decisions and reserving for potential losses.

Mitigate exposure to counter-party credit risk

After you’ve transferred your risk, it’s critical that you effectively manage exposure to counter-party credit risk.

  • Monitor the credit rating of every insurer named in each and every one of your organization’s policies.
  • Evaluate your organization’s credit risk exposure to any insurer at a moment’s notice.
  • Build comprehensive, up-to-date reporting on the collective health of insurers for every line of coverage your organization carries. 
  • Receive real-time alerts if an insurer's credit rating changes.
Reduction

Reduce time taken from certificate of insurance request to issuance

Automate and accelerate how you manage certificates of insurance

When done manually, managing certificates of insurance is time consuming. It can also be quite complex to comply with the regulatory requirements for insurance contracts and the display of certificates.

Now you can automate and streamline the management of incoming certificates of insurance:

  • Define custom insurance requirements based on the type of vendor or contract.
  • Track each vendor’s compliance with those requirements.
  • Set up automated email reminders to vendors, business units, and your insurance department whenever a certificate is past due or out of compliance.

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Expect more from renewals technology.

Walk through the Ventiv renewals roadmap and discover what to expect from a new generation of automated renewals tools.

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