Ventiv IRM

Ventiv’s IRM software provides a range of risk solutions to support risk, insurance and safety managers to achieve their key business objectives while delivering operational excellence. Enterprise-wide data management and predictive analytics tools aim to deliver the actionable insights necessary to make fully informed decisions for optimal business outcomes.

Covering non-insurable and insurable solutions range of packages and modules gives a solution for:

+ Enterprise Risk Management (Risks, controls and action/treatments) including SOX compliance with corporate governance policy & reviews

+ Loss reporting, Claim and Litigation management

+ Safety Management including incident reporting, investigations, root cause analysis, audits and assessments

+ Renewals and submissions

+ Property, Assets and exposures management

+ Cost/premium allocations and calculations

+ Insurance programs and policies, including certificates, insurer ratings, premium earnings and claim financial allocations

+ Risk engineering survey and recommendations

+ Audits and assessments

+ Total cost of risk, KRI and KPI monitoring

IRM provides a range of capabilities to allow the solution to be configured to match each client’s specific requirements, processes and workflow.

+ Online intake forms via companion Digital product. Designed for the non-professional to make it easy for external/field users to notify, report, assess, request, approve, audit and attest from any device;

+ A range of interfaces and data-conversion/ETL capabilities with IRM being a full REST-API based application and using Talend for API interfaces. This allows for the whole range of interfaces: real time, one-time historic and regularly scheduled including historic, transactional and attachment data for consolidation from multiple sources;

+ Business process and workflow management tools, including alerts and reminders to track progress;

+ Comprehensive and advanced set of reporting and analytic tools including:

oPixel perfect reports

oInteractive dashboards

oPredictive, Geospatial and Text analytics

oModels and Monte Carlo simulation

oBenchmark data

+ Range of administration and workbench tools to allow the management of the tools access and usage with full facilities to configure the solution.

+ A full range of international support, including multi-lingual and multi-currency, to allow global deployment and usage; and

+ US and European hosting centres with fully accountable technology infrastructure and SOC 1 plus ISO 27001 certifications.

Ventiv’s solutions allow users to connect risk across silos.

+ Capture, consolidate, and integrate data to establish a central source of truth;

+ Discover trends and quantify risk with real-time analytics system;

+ Connect risk mitigation activities across the business;

+ Reduce your administrative burden with automated processes that drive best practices;

Overall the solution helps to drive a lower total cost of risk by reducing claim frequency and severity with data-driven decisions and clear connections between risks and business outcomes.