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Digital insights are the new currency of business; is your risk, insurance, or safety team positioned to capitalize on its data reserves?

I recently came across a Forrester report on “The Insights-Driven Business,” which urges companies to join the leading-edge businesses who “harness and apply data and analytics at every opportunity to differentiate their products and customer experiences.” The report got me thinking about what risk, insurance, and safety teams can do to make their groups insights-driven—even if their company has yet to become fully data-driven, let alone insights-driven.

Topics: analytics Analytics und Reporting RiskConsole Advance

What does the future hold for Risk Managers?

In today’s global economy, where many small and large organizations work across many countries, risk management has become far more complex.

Topics: risk management

Ventiv's new ebook helps you evaluate claims technology against your organization's needs

It isn’t easy to keep up with all the ways technology is transforming how we live and work. Even in the B2B world of claims administration, the capabilities in claims systems are moving forward at a dizzying pace. At the same time, it can be challenging to evaluate all the claims systems out there, which is why we’ve taken a different approach with our new guide to evaluating claims technology. 

The Essential Guide to Claims Technology in a Changing Environment looks at claims technology from a unique perspective: How—specifically and in detail—you should expect technology to help your organization meet its toughest challenges and capitalize on its most promising opportunities. We framed this guide to claims-administration systems in the context of what today’s technology should do for organizations navigating shifting, often challenging business and regulatory environments.

Topics: claims software Claims Administration

Risk management should support, not stifle, company culture

Each business has its own risk priorities. This could be anything from social media, cyber security and terrorism to internal strategies, new technology and competition. Some will be short term and others will focus on future planning.

Topics: risk management

IBM Watson Analytics is now embedded in RiskConsole Advance: Why it’s a big deal

January 18, 2018, was a momentous day for Ventiv Technology: We announced that IBM Watson Analytics is now available as part of our risk management software solution, RiskConsole Advance. Why do we think this is such an important development? In short, because with Watson Analytics, we’ve reimagined what advanced analytics can do for the risk, claims, and safety profession. Now, users at all levels are now empowered to perform automated predictive analytics. No longer do our clients need to incur the cost-prohibitive and time-consuming work of engaging outside data scientists.

Topics: predictive analytics analytics Analytics und Reporting RiskConsole Advance

2017 in review – ERM is on the rise, but there’s still room for improvement

As businesses start to implement their plans for a new year, we’ve taken a look back at 2017 to review how the handling and perception of risk management has changed. From our team’s vast experience of working with our clients and other organisations in the industry, we’ve found overall that there is a rise in the understanding, and use of formal risk practices. However, as always, there is still room for improvement. 

Topics: risk management RMIS ERM

Ventiv Technology Year-in-Review letter from CEO Bill Diaz

Earlier this week, Ventiv Technology distributed this letter from Chief Executive Officer Bill Diaz to Ventiv customers. 

Dear Ventiv Customers:

On behalf of our team, we hope you and yours had a fantastic holiday season! As we reflect on 2017, we want to say, “THANK YOU, THANK YOU, THANK YOU” for making it possible for us to have such an incredible year. When I became Ventiv’s CEO nearly a year ago, I prepared for a challenging transition as clients and colleagues naturally wanted to know how the change would impact them. We appreciate your support and patience so we could demonstrate our continued commitment to the market and our renewed vision for Ventiv. Here are a few highlights from last year:

Want to know the future of risk technology? Look at the key trends happening today

This blog is cross-posted from the Commercial Risk Europe FERMA Forum daily newspaper (registration required).

Making the best possible use of new and emerging technology, including enterprise software, is vitally important for almost any organization. In our hypercompetitive, ever-evolving global economy, few companies can afford to become complacent when it comes to how they choose their software and what they expect from it. This applies to the discipline of risk management just as it applies to, say, operations, finance, logistics, or any other corporate function. As risk managers look to technology to help them adapt to turbulent times, what should they be looking for in their risk software?

Topics: risk management risk management software

The benefits of an RMIS when creating an ERM framework

Spreadsheets are great. However, they really don’t cut it when you are trying to develop a complex enterprise risk management (ERM) framework. Multiple formulas, lots of sheets/tabs, broken links, numerous people editing the same document, version control issues… The list of issues goes on.

Topics: enterprise risk management ERM

How risk, claims and safety software could have saved Jurassic Park

In honor of the 24th anniversary of the movie Jurassic Park’s release in June of 1993, this is a great time to engage in a little “what if” thinking and imagine how risk, safety and claims software solutions could have saved John Hammonds’ incredible vision.

Topics: risk management enterprise risk management claims software Safety Management & Risk Control