Leading RMIS Vendor Receives Third-Party Validation of Its Solution by Risk Industry Experts
Ventiv Technology, the leading provider of risk, insurance and underwriting solutions, today announces its inclusion as a leading vendor in the RMIS 2022 Report, published annually by Redhand Advisors. This report, which complements a comprehensive review of the Risk Management Information Systems (RMIS) industry and its vendors, provides important third-party validation of Ventiv’s industry-leading solutions.
Ventiv is unique among the other solutions featured in the report because of our built-in advanced analytics capabilities,” said Ned Myers, CRO of Ventiv. These capabilities have a measurable impact on customer success across multiple categories, including claims management and administration, captive, and risk. pool administration, policy program management and others.
Ventiv is advancing digital transformation within its customer base, with a focus on emerging trends such as automation, adoption, seamless integrations, and creating measurable business value. This transformation includes the recent migration of customers from its legacy RiskConsole solution to Ventiv IRM, the company’s horizon scanning capability. It includes Ventiv Predict, which allows users to gain real-time insights from benchmarking and predictive modeling. These industry-leading AI/ML algorithms help clients predict outcomes, prioritize time and resources, and drive ROI in a way that remains unique to all other offerings.
“Ventiv Technology continues to migrate customers from its legacy platforms to its current IRM and Claims products, enabling customers to take advantage of their new capabilities and technologies,” the RMIS report explains. “They also offer what could be considered cutting-edge analytics solutions through a suite of offerings ranging from discovery and data mining tools to more complex predictive modeling and data science tools. .”
Through Ventiv’s ongoing efforts to engage with customers about important issues facing their customers’ businesses, Ventiv has seen a more than 100% increase in respondent engagement year over year. Ventiv customers who participated in the survey reported an overall 10% year-over-year improvement in all categories, including: customer experience, implementation experience, system value, system, ease of adoption, understanding of customer needs and efficiency of use. While the report emphasizes RMIS, Ventiv is also a market leader in claims administration and predictive analytics.
“Consistent with the trends outlined in the report, Ventiv knows that companies are spending more time, money and resources on digitally transforming their risk management programs,” Myers said. “Providing an accurate feature assessment beyond a snapshot in time will become even more critical for vendor assessments. We are encouraged to see the overwhelmingly positive feedback from our customers in this year’s RMIS 2022 report and know that our commitment to empowering our customers with the best emerging technology of the highest order will set us apart in the years to come.We are simply not a company that rests on its laurels, and it is our commitment to innovate alongside our customers to anticipate the risks of tomorrow.
The RMIS 2022 report reviews the RMIS landscape and offers brief vendor overviews for consumer reference. The report is designed to help buyers better understand the market and available solutions. Although the report incorporates the expertise of Redhand advisors and direct feedback from RMIS users, the authors ultimately recommend that each organization assess its own needs and priorities. “One size doesn’t fit all,” says Redhand. “To make an informed decision, a careful needs assessment and review of business processes must be carried out.”
Download the full report or visit the Ventiv website for more information.
About Ventiv Technology
Ventiv Technology is a leading global provider of risk management information systems (RMIS), enterprise risk management (ERM), insurance claims, billing, policy and information technology. management integrated with its cutting-edge analytical and predictive models. Ventiv Technology’s SaaS and on-premises solutions are deployed by brokers, insured corporations, federal and state governments, third-party claims administrators (TPAs), and risk pools in a variety of industries, including transportation and logistics, retail, financial services, leisure and hospitality, carriers and insurers, energy, aviation, manufacturing, governments and public entities, and many more.
With over 45 years of experience, Ventiv has over 450 institutional customers and over 350,000 users of Ventiv technology in more than 40 countries. Ventiv’s global footprint and experienced team of industry veterans provide organizations with insights that enable our customers to predict, manage and respond to risk.
For more information, please visit https://www.ventivtech.com or @VentivTech.