Ventiv Technology

17 ©2023 Redhand Advisors. All rights reserved. Riskonnect continued to broaden its IRM offering over the past year as well. They completed several acquisitions including Castellan, who offers business continuity and resilience management tools, and Sword GRC, who offers project risk management capabilities. Riskonnect is focused on developing an Integrated Risk Management Hub to aggregate information across all their platforms. Relatively new entrants Klear.ai and Spear Technologies, who initially focused on claims administration are making strides in the marketplace alongside incumbents PCIS and Insurity. Klear.ai and Spear were both involved in merger/acquisition activity recently. Klear.ai recently acquired the Inform business from Cloud Software Group. This acquisition brings together Inforum's RMIS capabilities to an already strong claims administration solution with embedded AI. While Spear recently merged with Insurium, previously listed separately in our report. This merger will help accelerate Spear's ability to provide a comprehensive suite of core system capabilities to the P&C insurance market as well as self-insureds and risk pools. This section also highlights three new participants on our report - Aclaimant, Clear Risk and Direct Claim Solution. While none of these vendors are new to the market, they address a growing demand from small to mid-sized organizations that are looking for RMIS capabilities to meet their needs at reasonable cost. 17 ©2023 Redhand Advisors. All rights reserved. 78% 76% 62% 58% 48% 47% 35% 34% 25% 22% 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 I N C R E A S E D P R O D U C T I V I T Y IMPROVED BUSINESS PROCESSES IMPROVED RISK ANALYSIS & ASSESSMENT IMPROVED COMPLIANCE & RISK MGMT FASTER DECISION MAKING IMPROVED CUSTOMER EXPERIENCE CROSSDEPARTMENT UTILIZATION REDUCED TOTAL COST OF RISK 38% Well Utilized (51-75%) 35% Moder ately Utilized (25 - 50 %) 17% Highly Utilized (>75%) 11% Under Utilized (<25%) RMIS UTILIZATION 24% Moder ately Ef fec tive 41% Ver y Ef fec tive 29% E x tr emely Ef fec tive 1% Not Ef fec tive At All 5% Slightly Ef fec tive RMIS EFFECTIVENESS NOT FOR DISTRIBUTION

• Cover