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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

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

The Insurance Act: End of  Data Dumping?

One of the biggest changes for Risk Managers in the wake of the Insurance Act 2015 coming into force in August 2016 is a new responsibility for interpreting as well as collating risk data.

Topics: risk management Compliance data management

I don’t live in the UK, what does the UK Insurance Act have to do with me?


Have you heard of the Insurance Act 2015 (the Act)? If not, perhaps you should do some reading before the Act goes into effect on August 12, 2016. The Act makes some pretty profound changes in the way underwriting data must be reported and the responsibilities of the insurer and the insured in the event that the underwriting information, for any reason, is not accurate or complete. As a risk manager outside of the UK, you may not think these regulations will impact you. However there are a number of situations where you and your risk could be effected by provisions of the Act: 

Topics: risk management data management

The Tie Between Golfers and Data

I read, with great interest, the trailing article from the Wall Street Journal, this week - Golfers Join the Rest of World, Use Data

Topics: data management

No data scientist on staff? 6 alternative sources of data expertise

I saw the following quote last week in one of the daily news feeds I subscribe to:

“We have data science needs all over the place.”
–Progressive Group CIO, Ray Voelker

I think we can agree that Progressive is one very forward-thinking leader in the highly competitive world of personal lines insurance, and that Mr. Voelker is one of its fastest paced leaders. He has tons of data at his fingertips as well as access to formidable resources in what Progressive calls its “Business Innovation Garage,” or BIG, which serves as Progressive’s version of Lockheed Martin’s Skunk Works. These guys KNOW what they’re doing with big data. 

If Progressive, of all companies, has data science needs “all over the place,” what about you and your company? As the risk manager, you have enormous amounts of data that are critical to getting your job done. You have financial data, operational data, claim and claimant data, property data, litigation data and so much more. In effect, you are sitting on a mountain of inestimable value. But how do you tap into that value?

Topics: risk management Data Security & Cyber Risk data management

Carriers and TPAs know it’s all about analytics these days; but are they paying enough attention to their data foundations?

Attendees at this week’s National Workers’ Compensation and Disability Conference (NWCDC) will undoubtedly hear a lot about all things analytics, from Big Data to the Internet of Things to predictive modeling. It’s important to remember, however, that high-quality, complete and relevant data is the foundation of effective analytics of any kind. There are some important, often-unappreciated prerequisites for effective analytics that insurance entities should bear in mind.

Topics: Analytics, Reporting & Data Visualization data management

The Flow of Risk Management Data in Corporations

Do you understand how risk management data flows through your organization, arrives at your desk in a useful manner, and hopefully, contributes to good decisions all over your company? Defining the way that information moves in a company or other organization may help provide you with insights about ways the process can be streamlined and made more efficient and effective. This risk management data flow could be independent of any computer systems (or lack of them) to begin with. Of course, the right technology can make this entire process more efficient and productive.

Topics: data intake & incident reporting data management