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Robotic process automation and risk management software: merging technologies for even more efficient risk management

We are in exciting times. Robotic process automation (RPA) is cutting-edge technology that is already in widespread use and delivering strong return on investment in industries and sectors of all kinds.

 RPA is enhancing operational efficiency by allowing bots, or ‘digital workers’ to perform manual, repetitive tasks once done by human workers. RPA not only has a positive impact on accuracy, productivity and the bottom line, but also it allows for a more motivated workforce who can then concentrate on more interesting and less laborious parts of their jobs.

Topics: Automation

Don’t fear the robots!  Embracing innovation for risk management

Written by Genevieve Gonzalez, Director of Professional Service, Asia-Pacific, Ventiv

In my role, I’ve had a lot of experience working with risk managers to embed time and resource saving technologies into their business processes, and often encounter a nervousness around how such innovations might impact on the business and their employees; one of the most common fears is that automation will replace employees rather than enable them to do a better, more efficient job.

Topics: risk management

Will your insurer contribute to a new risk management information system (RMIS)?

For many risk managers out there, now is when you are looking at your insurance renewals ahead of the 1st January. Did you realise that this is also a great opportunity to consider your risk management needs?

Topics: risk management software

Introduction to Robotic Process Automation – What is it and how can it support the insurance industry?

Read our overview of RPA from our recent report, Robotic Process Automation (RPA): The Power of Automation in Insurance.

Topics: Automation

Can Artificial Intelligence (AI) and Machine Learning help Risk Managers?

Much of the AI discussion to date has been about the risks and rewards that it offers. For example, while there have been high profile stories about the risks of automated vehicle crashes many commentators are predicting long-term impact on the future of motor insurance. Warren Buffet no less believes safer vehicles will see the motor insurance industry reduce by 60% over the next 25 years. When you consider that motor insurance accounts for 40% of the industry, that is a pretty seismic change.

Topics: risk management

Ventiv shortlisted for Technology Innovation of the Year Award

We are delighted to be a finalist for Technology Innovation of the Year at the European Risk Management Awards. We based our award submission on a technology solution we developed for a Ventiv client—Nestlé—in collaboration with Zurich Insurance Group. More specifically, the solution for which we’ve been shortlisted utilises application programming interface (API) technology to integrate Zurich’s My Zurich platform with Nestlé’s instance of Ventiv’s RiskConsole RMIS. 

Topics: 2018.10 redesign risk management software data management

The first GDPR rulings on spreadsheet breaches are in – are the floodgates opening?

The impact of GDPR is starting to be felt. The UK Home Office appealed a data breach ruling under new legislation with an interesting outcome for businesses working with spreadsheets.

Topics: GDPR & Data Governance Data Security & Cyber Risk 2018.10 redesign data management

Risk management can’t afford to ignore the “data dividend”; get started with the Ventiv/Aon guide to making use of analytics in risk management

According to an Airmic report from summer 2017, “More than a third of risk managers (35%) say that their use of analytics tools today is limited, but within three years, more than half of risk managers (56%) expect to be using data analytics extensively in their roles.” Ventiv is committed to helping risk managers move from the status quo—limited use of analytics tools—into an analytics-centric future. That’s why we partnered with Aon Risk Solutions to produce a white paper called “Driving the Data Dividend. Making Use of Analytics in Risk Management.” Produced specially for Airmic members, we’re delighted to make this paper available to a wider audience.

Topics: risk management 2018.10 redesign Analytics, Reporting & Data Visualization data management

Ventiv shortlisted for CIR Risk Management Awards for API integration project with Nestlé and Zurich

I’m delighted to report that Ventiv Technology has been shortlisted for the ninth annual 2018 CIR Risk Management Awards in the category of Best Use of Technology in Risk Management. We based our award submission on a technology solution we developed for a Ventiv client—Nestlé—in collaboration with Zurich Insurance Group. More specifically, the solution for which we’ve been shortlisted utilises application programming interface (API) technology to integrate Zurich’s My Zurich platform with Nestlé’s instance of Ventiv’s RiskConsole RMIS. 

Topics: 2018.10 redesign risk management software

Breaking down barriers: What’s stopping risk managers from making use of data?

Risk managers cite a number of challenges in making use of data. We partnered with Airmic and Aon to research and address the challenges faced when managing data analytics in risk management.

Topics: Data Security & Cyber Risk data management Analytics, Reporting & Data Visualization risk management software