POOL
ADMINISTRATION
Pool Administrators:
How RiskConsole Can Help
Configured specifically for pools,
Ventiv RiskConsole helps pool
administrators automate and
improve their most important
functions, including purchasing
insurance, accepting the transfer
of risk from members and other
important tasks, including:
• Member communications: For
those pools actively soliciting
new members or wishing to do
so, RiskConsole streamlines and
standardizes the onboarding of new
members and communicating with
current members.
• Allocating contributions:
RiskConsole can process the
premium allocation, generate
invoices and create a feed to pass to
the pool's general ledger system.
• Engaging with excess markets:
RiskConsole improves the quality of data
communicated to the excess markets
during the submission process.
• Requesting letters of insurance:
RiskConsole can facilitate member requests
for letters of coverage (out-going). RiskConsole
can also monitor incoming letters.
• Reporting to the board and to trustees:
RiskConsole's class-leading reporting and
analytics capabilities empower administrators
to enhance reporting, including loss-fund
ratio reports and plan-year analyses, while
making the process more efficient.
• Reporting and monitoring claims: For pools
actively involved in monitoring claims and
working directly with TPAs, RiskConsole helps
pool administrators track claim financials.
• Directing loss-control initiatives:
RiskConsole can help pool administrators
who directly promote safety and loss-control
initiatives, including financially incentivizing
member participation.
