Ventiv Technology

This project was a first for Ventiv, Zurich, and Nestlé. It's still a rarity in that it links a major insurer with a multinational commercial client through a RMIS. In the past, cost and complexity have been barriers to entry for APIs for commercial clients; this solution, however, is efficient and delivers a justifiable return on investment. THE RESULTS TO DATE, AND PLANS FOR THE FUTURE Nestlé implemented the API following a pilot program. According to Andrew Bradley, Head of Group Risk Services at Nestlé, the company has seen increases in efficiency, "Both in our markets and countries as well as at the head office. We felt that if we could get data directly from the insurer into our system, this was going to be a huge plus. One of the basics is getting the basics correct—the premium flows, premium tracking, claims and policy administration. For me, API meets those needs." Based on the success of the Nestlé/Zurich project, Ventiv is making API-based solutions available to a wider audience of Ventiv clients who will also be able to benefit. The technology is well- suited for multinationals that have international programs with a broad geographic reach and a number of lines of business with a single insurer. In a few years' time, API could well be the normal way companies work with their insurers. After a successful first implementation, Zurich is fully on board. "We believe API is the future for our large multinational companies," says Helene Westerlind, Zurich's Global Head of International Programs, "and we want to make sure we continue to deliver and enhance this capability." u The three organizations set out to achieve three key objectives, which have been successfully attained. In brief, the objectives achieved are: » Consistency gains: By sharing standard data models, there is now consistency in the information shared. Only clean data is now received, which provides Nestlé with confidence that data is automatically reconciled across the Ventiv IRM and Zurich platforms without manual intervention or the risk of human error. » Efficiency gains: The API retrieves data and ensures that information is shared between both parties. Crucially, the API solution removes any manual work in producing reports. It eliminates repetitive manual processes and extensive re-keying of data from data-processing and risk-engineering functions. » Live data: The API solution ensures that consistent, real-time data is now shared between Ventiv IRM and Zurich platforms. By having immediate access to claims, policy and risk-engineering data, Nestlé is now in greater control and in a stronger position to make decisions quickly. VENTIV TECHNOLOGY 3SIXTY ° | 15

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