Ventiv Technology

2022 State of the RMIS Industry From cyber incidents to business interruption, natural catastrophes and supply chain, the magnitude of business risk in 2022 is truly unprecedented. The good news is, Risk Management Information Systems (RMIS) are rising to the challenge. The RMIS Market continues to evolve at a rapid pace. More organizations are utilizing RMIS than ever before. Not surprisingly, U.S. businesses make up the largest percentage of RMIS users, representing 80% of the market. The United Kingdom/ Europe, Asia Pacific and Latin America are ripe for growth in 2022 and may even outpace U.S. growth over the next few years. As the utilization of RMIS continues to move beyond just claims, the international market will accelerate its RMIS adoption. 4 Current RMIS Trends As business risk increases so does the need to understand where the industry is headed. Here are four key RMIS market trends we are observing in the market: 1. Vendors are pushing the envelope of what's possible in your RMIS. We continue to see expansion in the capabilities that a RMIS provides and supports. This expansion is taking many different forms including traditional product development expansion as well as growth through private equity (PE) activity. PE activity has helped RMIS providers grow, adding new and additional offerings to their portfolio of capabilities. In many cases PE investment has spurred the M&A activity, allowing RMIS businesses the opportunity to add complementary capabilities that organizations are demanding, resulting in an overall broader RMIS solution for customers. Bottom line: RMIS offer significantly more capabilities and address much broader risk issues than they have in the past. Large vendors are buying up smaller solutions to complement their offering, with an adjacent business. Vendor consolidation has allowed for increased investment in product development. 14 ©2022 Redhand Advisors. All rights reserved.

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