Ventiv Resource Library
Issue link: https://ventiv.uberflip.com/i/1498345
Unbundled Vendor Updates The past few years we've presented the unbundled vendors divided between RMIS and Claims solutions. However, this has become more and more challenging. While there are Claim-centric solutions in the marketplace many continue to broaden their capabilities and offer more traditional RMIS capabilities. Likewise, the RMIS providers offer claim- administration capabilities similar to the vendors in the Claims market. 16 ©2023 Redhand Advisors. All rights reserved. For this reason, we have consolidated the RMIS and Claims sections back into one section. In order to identify the systems that have the capabilities you are looking for we refer you to the newly added Product Offering Matrix at the end of the section which displays the self-reported capabilities from each vendor. Based on our research Origami Risk, Riskonnect and Ventiv have the majority of the market share and are the most comprehensive solutions available. We continue to see an increase in the number of solutions in this marketplace. Many of them offer specialized solutions that present a great deal of options for organizations. Origami reports a significant increase in demand for integrated risk management (IRM) platforms which supports our research. IRM in the context of RMIS, brings together different aspects of risk management, such as insurable risk, governance risk and compliance, enterprise risk management, as well environmental health and safety in a single platform. 87% 75% 60% 47% 46% 35% 30% 29% 24% 14% 14% 5% 7% C U R R E N T U S A G E C U R R E N T U S A G E C L A I M S M G M T. C L A I M S A D M I N I S T R AT I O N I N C I D E N T E N T R Y / M G M T. INS. RENEWAL DATA COLLECTION P O L I C Y / P R O G R A M M G M T. E X P O S U R E / A S S E T M G M T. L E G A L / M AT T E R M G M T. E H & S E R M / G R C C A P T I V E / P O O L M G M T. U N D E R W R I T I N G H E A LT H C A R E R I S K M G M T. R M I S R E P O R T U S E R S U R V E Y R E S P O N S E S R M I S R E P O R T U S E R S U R V E Y R E S P O N S E S O R I G A M I R I S K ( 1 7 5 ) R I S K O N N E C T ( 1 2 9 ) V E N T I V T E C H N O L O G Y ( 9 8 ) C L E A R R I S K ( 4 4 ) K L E A R . A I ( 1 2 ) P C I S V I S I O N ( 8 ) A C L A I M A N T ( 5 ) S P E A R T E C H ( 4 ) A S S U R E C L A I M S ( 4 ) I N S U R I T Y ( 2 ) ( # ) N U M B E R O F R E S P O N D E N T S I N PA R E N T H E S E S NOT FOR DISTRIBUTION