Ventiv Technology

HO W CAN RISK AND CL AIMS TEAMS DIGITIZE NO W? When it comes to strategy and digitization, we think McKinsey's advice for companies applies equally well at the department level. We've taken the liberty of adapting it as follows: "Successful companies [and risk and claims] teams focus not on a digital strategy but a strategy for the digital age. This business [and team-level] transformation starts with a thorough diagnostic of competitive strengths and challenges that enables leaders to prioritize where they want to start. They set aspirational targets along a well-defined road map and commit to a budget to meet those targets." We at Ventiv work actively with our clients to do precisely what McKinsey suggests: evaluate strengths and challenges and prioritize where to start; work together to develop a business case for the investment; and develop a road map for implementation. Consider the story of Cox Enterprises, featured in this issue of 3SIXTY° (page 24). After being introduced to Ventiv's data-intake tool, Ventiv Digital, at the 2017 Experience conference, Cox's Courtenay Wallace spoke with us about how she and her team could make use of the tool. Wallace knew that one of her team's challenges was efficient, accurate, and comprehensive exposure-value collection; she was receptive to digital solutions and prioritized an investment in Ventiv Digital. Courtenay Wallace and Cox Enterprises exemplify McKinsey's advice to focus not on a digital strategy per se, but rather, on what's possible in this digital age. The results for Cox so far have exceeded expectations, and the company plans to build on its success with additional investment in digitization. Lisa Mohler and IPEP, another case study featured in this issue (page 8), also embody the ethos of embracing what's possible now in digitization and deploying it. Mohler and IPEP also deployed Ventiv Digital, but for different goals: In IPEP's case, one objective was to improve the efficiency and effectiveness of its risk management services. IPEP now uses Ventiv Digital to standardize the collection of the surveys and assessments that its risk managers perform. Then, IPEP takes the data collected in Ventiv Digital and transforms it into useful, easy-to- consume reports for its clients. To close the circle, IPEP has digitized the process of following up with clients to ensure recommendations have been implemented. ANALY TICS, GRO WING DATA SETS, AND ARTIFICIAL INTELLIGENCE Advanced analytics is another area of digitization delivering strong value to risk and claims teams. One of the reasons IPEP decided to make the investment to upgrade to Ventiv Claims is the ability it gives IPEP to share advanced dashboards with its clients. Now, IPEP clients can easily access user-friendly, real-time analytics that provide the data points that IPEP clients want to track. Today's advanced analytics solutions, however, go far beyond dashboards and other forms of reporting. Today's advanced analytics solutions go far beyond dashboards and other forms of reporting. 6 | 3SIXTY ° VENTIV TECHNOLOGY

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