Ventiv Technology

Consider this example from risk management: Examining external parameters like weather patterns, census records or building materials against an organization's loss experience and claims data can illuminate links that inform a new risk-mitigation approach. Or, for another example, comparing building materials and climate conditions to property losses can help determine if certain locations are more susceptible to mold. So, if a building is in a high-moisture region, insights discovered through analytics can prompt an organization to go back to the building materials and cleaning protocols and find new ways to prevent and mitigate mold damage. CHOOSING A PARTNER WITH DATA AND DOMAIN EXPERTISE Despite the user-friendly nature of modern analytical tools, they can create some risk for an organization. Users still have to ask the right questions and understand how to interpret those results. Introducing bias is one risk. Leading or narrow questions may produce the results that a user wants to see, but that may not be accurate if they are not comprehensive. Misinterpreting the answers can also undermine data's usefulness. To fill in the gaps and ensure data is handled and interpreted correctly, end users need a vendor that also comes equipped with both data and domain expertise. It's smart to partner with a technology provider that knows the industry and knows how to empower end users to make data-driven decisions that generate optimal outcomes like reducing claim frequency and severity. And, of course, organizations should select the risk or claims system with the best analytics, reporting, and data- discovery tools for their needs. u Analytics is all about uncovering insights and connections Analytics is all about uncovering insights and connections VENTIV TECHNOLOGY 3SIXTY ° | 31

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