Review of Ventiv's IRM/Digital and Claims Module
Use Cases and Deployment Scope
We use IRM and Digital to automate and track exposure information. To ease administration the Digital forms tool is deployable to individuals who don't necessarily need to be full users of the IRM system which eases the administrative burden among other positive aspects.
We have also used RiskConsole/IRM to track asbestos claim dollar across multiple policy years.
Pros
- easy user interface
- good reporting
- able to spread dollars across multiple policies
Cons
- better linking to multiple policies
- It can house claims from multiple 3rd party vendors all in one database
- Our company owns the claim data, we don't need to rely on paying access fees to discontinued TPAs
Likelihood to Recommend
Our main use surrounded the tracking of historic toxic tort claims that spanned multiple policy years. One of our carriers internally has the same capabilities but limits access to their systems to only a very high summary basis. By housing claims within the IRM system we can track those claims and spread losses across multiple policy years to validate the lead carrier spreading of losses.
