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Power and utility companies are faced with maintaining compliance with increasing regulation, balancing complex cost structures, and managing reputation amid rising consumer expectations. Risk managers are challenged with ensuring that proper coverage is in place and justifying risk decisions to executives and stakeholders. With AI-powered analytics, risk professionals can integrate all data from internal and external sources in a unified solution and uncover hidden insight to manage exposures and drive down the cost of risk.
Gain a deeper understanding of risks, predict outcomes, and take preventive action to optimize your business performance.
Take action based on factual data and remove your personal bias.
Find ways to reduce costs and modify coverage by asking simple questions.
Identify root cause(s) through data-driven, interactive analysis of key contributing factors.
Gather the data you need to build consensus and support for your risk and insurance objectives.
Deliver metrics, data, and insights to allocate resources to improve your returns.
Allow your managers to focus on their core business. Capture all incidents, notify and escalate to management, investigate and identify root causes, and identify the best corrective measures for your budget.
Gain a stronger negotiating position for risk transfer. Maintain a detailed register of all exposures and assets, including properties, with location, usage, values, and COPE details.
Streamline the renewal process by automating the collection, consolidation, and analysis of your risk and exposure data. Reduce premiums by 10% and time collecting data by 70%.
Prevent risks and hazards with best use of loss control budgets. Improve your safety program with a central repository of survey results, including recommendations and temporary impairments.
Establish a holistic approach to managing policies and insurance programs. Manage complex insurance policies, including premiums, limits and conditions, loss ratios, aggregate erosion, premium flows, and insurer exposure.
Manage risk across your enterprise by aligning your ERM framework, including identification, assessments, controls, and actions. Generate maximum value with easy consolidation, aggregation, linkage, and reporting.
Improve your EHS program by capturing all types of incidents, near misses, and observations. Investigate, identify root causes, and take corrective action. Target your loss control measures, drive best practices, and ensure compliance with local legislation (OSHA, RIDDOR).
The right software solution for risk management not only aggregates risk, insurance, and EH&S data but also supports your risk strategy and improves performance with effective governance and risk ownership.
As today’s risk environment changes to encompass a diverse, critical range of enterprise and large-scale risks, no risk manager can afford to be without powerful risk-focused technology.
Ventiv enhances and simplifies the evaluation, mitigation, and monitoring of risk with powerful analytics, business intelligence, and reporting capabilities.
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