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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

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

Making the most of Analytics: 5 key takeaways from Airmic

John Irving, Ventiv’s very own Commercial Director, EMEA, had the opportunity to run an informative workshop on the topic “Unlocking the unknown, the future of risk management analytics”. He shared his expertise in analytics and using AI to support key business decisions, as well as giving a demonstration of Ventiv’s RiskConsole system and Watson analytics.

Topics: Analytics, Reporting & Data Visualization risk management software

Risk Managers: Harness the Power of Data and Analytics

Data is everywhere, and technology has given risk managers the tools to work with it directly, finding the answers they need to drive their businesses forward.

Data and analytics have always been the language of insurance.

“Go back to the early days of Lloyd’s, when underwriters of the day met in coffee houses to share their experiences around which ships successfully made it to port. That’s how marine insurance beganwith people pooling information and using it to inform business decisions,” said Rob Hoyt, Department Head and Professor of Risk Management and Insurance in the Terry College of Business at the University of Georgia. 

But as the insurance industry became more formalized, actuarial science emerged as a way to institutionalize the process of collecting data and applying it to the practice of evaluating and pricing risk. As data analytics fueled the growth and sophistication of the insurance and risk management industry, it also grew increasingly siloed to a subset of specialists. 

Topics: Analytics, Reporting & Data Visualization risk management software

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, Reporting & Data Visualization risk management software

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: Analytics, Reporting & Data Visualization risk management software

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 enterprise risk management risk management software

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

Leaving Spreadsheets in the Past

 

I recently read the article “Goodbye Spreadsheets, You’ve Had a Good Run”, by Mary Long.

Topics: risk management software