Ventiv Technology Is Now Part of Riskonnect

Riskonnect and Ventiv have a shared mission to enable leading organizations to harness technology to effectively and efficiently manage risk. Acquiring Ventiv helps Riskonnect fuel growth, innovation, and customer value. By combining Riskonnect and Ventiv we are:

• Accelerating the growth objectives of both organizations.
• Extending Riskonnect’s reach by expanding into key geographies and industries.
• Bringing to market an unparalleled integrated risk management solution that brings all risk data together for complete end-to-end visibility.

With complimentary cultures focused on innovation and customer success, expanded expertise across Risk, GRC, Project Risk and Business Continuity we are an organization positioned to provide unmatched value to our customers.

The two companies are very aligned based on their culture, view of the market, and a commitment to customer success. With this shared DNA, the combination provides new and broadened opportunities for Ventiv customers, elevates our combined resources for innovation in the arenas of RMIS and Claims Administration, and creates opportunities for growth and development of Ventiv employees.

Additionally, the combination of Riskonnect and Ventiv accelerates Ventiv’s vision of value creation through advanced analytics while at the same time providing Ventiv clients with expanded solutions in the areas of GRC and Business Continuity.

The transaction has officially signed on December 22, 2023 and closed on January 11th, 2024.

Riskonnect remains committed to providing leading RMIS and Administration products. Customers can expect continued support of Ventiv solutions. Near-term product plans will remain unchanged, but future product plans will seek to maximize return of our combined customers’ requirements, which thematically will focus on:

• Expanding on Ventiv’s momentum in claims administration
• Accelerating Ventiv’s advanced capabilities across Digital, Analytics, Policy and Billing
• Leveraging the ‘best-of-breed’ functions of all Ventiv and Riskonnect RMIS platforms to develop the most robust go-forward RMIS platform while providing customers as seamless an upgrade path as possible;
• Combining our focus and resources to further enhance our position as the leading RMIS solution available on the market.

Ventiv customers will benefit from Riskonnect’s expanded Integrated Risk Management (IRM) and RMIS product capabilities, an expanded global support infrastructure, deep multi-industry domain expertise, a large community of innovative peer customers and a growing network of Riskonnect Partners focused on expanding IRM value.

Customers should expect the same or better level of quality service they have been receiving. Customers should continue to call the same contacts for sales and support. As integration plans progress, frequent updates will be made available to ensure customers are well informed of all changes and transitions.

A press release has been issued announcing the transaction and customers will begin to be notified through various communication channels.

Riskonnect is forming a Customer Advisory Council that will focus specifically on the integration of Ventiv and Riskonnect. The Customer Advisory Council will include customers from both Ventiv and Riskonnect. The council will advocate the customer’s perspective, provide feedback on product, customer success and implementation strategy. They will also advise on communication, strategy and help to foster a combined sense of community.

Yes. All existing Ventiv customer contracts will continue to be honored.

Jim Wetekamp, the CEO of Riskonnect will have overall leadership responsibilities for the combined business.  As Riskonnect continues to expand through the Ventiv acquisition, we will be relying heavily upon the leadership and direction of key members of the Ventiv team.

Riskonnect’s goal is to build the best team of Risk and insurance professionals possible to continue supporting our clients. Riskonnect has industry leading employee retention and corporate culture ratings that we hope will create an environment for the Ventiv team you rely to continue to grow with us.

As with any integration there are potentially unforeseen risks. However, we believe there is low risk. Customers will benefit from enhanced functionality, not less. Customers will continue to receive the excellent customer care they have experienced with Ventiv while benefiting from the capabilities of a much larger organization and access to new solutions.

Riskonnect’s integration strategy focuses on one key principle:

The Maximum Value Promise

• We will place maximum priority on providing Ventiv customers with leading solutions.
• Customers will continue to enjoy the same or better service and support.
• Ventiv customers will have access to expanded capabilities through Riskonnect’s broader IRM capabilities.

We will rebrand Ventiv to Riskonnect over time. It is important to us that customers trust their Ventiv brand loyalty will carry over to the Riskonnect brand values.