Ventiv Resource Library
Issue link: https://ventiv.uberflip.com/i/1463932
Origami has also made inroads into the P&C Clams market. Their solution for this market is focused on carriers, third- party administrators, MGAs and Risk Pools. Of particular interest, a solution for reinsurance management which is unique in the industry. Ventiv Technology continues to migrate clients from its legacy platforms to its current IRM and Claims products allowing clients to take advantage of their newest capabilities and technology. They also offer what could be consider industry leading analytics solutions through a suite of offerings from data discovery and exploration tools to more complex predictive modeling and data science tools. PCIS is launching a reimagined Incident Intake module as the first release of the next generation of ClaimsVISION. The system has a new tech stack and includes BI integration as well as an innovative integration with ISO ClaimSearch. Klear.ai, a relatively new entrant into the Claims market, continues to build out their solutions very quickly. Klear.ai products are AI-native which means that AI capabilities are a natural part of the core application in terms of both design and operation. Over the past few years, while there has been consolidation in the RMIS market we have seen several new entrants into the Claims market taking advantage of the latest technology to deliver new and innovative solutions in the market. Five Sigma is the latest entry into the market. 17 ©2022 Redhand Advisors. All rights reserved. 74% 72% 51% 51% 38% 33% 25% 14% R E S U LT S A C H I E V E D R E S U LT S A C H I E V E D B E T T E R R E P O R T I N G I M P R O V E D D ATA A C C U R A C Y IMPROVED CUSTOMER EXPERIENCE I N C R E A S E D P R O D U C T I V I T Y IM PROVED COMPLIANCE & RISK MGMT IMPROVED BUSINESS PROCESSES FASTER DECISION MAKING REDUCED TOTAL COST OF RISK 67% 59% 46% 38% 30% 29% 28% 19% L I K E L I H O O D O F A D A P T I N G I N N E X T 5 Y E A R S L I K E L I H O O D O F A D A P T I N G I N N E X T 5 Y E A R S M O B I L E B I G D ATA A N A LY T I C S ARTIFICIAL INTELLIGENCE (A.I.) M A C H I N E L E A R N I N G ROBOTIC PROCESS AUTOMATION (RPA) INTERNET OF THINGS (IOT) NOCODE/LOWCODE SOLUTIONS B L O C K C H A I N 38% Moder ately Utilized (25 - 50 %) 34% Well Utilized (51-75%) 15% Highly Utilized (>75%) 14% Under Utilized (<25%) RMIS UTILIZATION