LONDON – 15 December 2020 – Ventiv Technology, a leading global provider of risk management software and insurance software solutions, has been awarded “Technology Innovation of the Year” at the 2020 European Risk Management Awards for their clinical trials certificate solution with Takeda Pharmaceuticals, a global life sciences company dedicated to developing new medical treatments.
Certificates of insurance are critical to pharmaceutical companies, and Takeda began integrating risk and insurance operations in early 2019 to improve efficiency. In doing so, they recognised an opportunity to expedite the delivery of life-saving medicine to patients in need. In less than three months, Ventiv developed and deployed an advanced system to streamline and accelerate the management of clinical trial certificates of insurance.
Over the last three years, the European Risk Management Awards have recognised and rewarded best practices and innovation among risk managers and the wider community of industry experts – brokers, insurers, technical specialists and other partners – who support them. The Awards Week, held virtually from 7 to 11 December 2020, celebrated excellence in risk management and the best and brightest in the industry.
On Ventiv and Takeda’s award, the judges commented, “This is an excellent and welcome initiative, a very innovative research-based risk management tool and a very good example of a collaborative approach to which the technology vendor played a crucial role.”
The Takeda certificate solution is among the most advanced of its kind. In what is believed to be the first such system in the pharmaceutical industry, the solution enables the production of instantaneous insurance certificates on a huge scale and in multiple countries. This is a major evolution from the typical manual certificate process and represents significant time and cost savings.
The solution, delivered against a challenging deadline, has significantly reduced the time and complexity of insurance certificate issuance for Takeda, as well as extending the automatic issuance of certificates in an additional 19 countries.
On receiving this award, Managing Director EMEA, Steve Cloutman, said: “We have worked closely with our partner Takeda, and we are pleased that our joint effort has been recognised. By listening to our clients and working with them as partners, we can develop solutions that work seamlessly with their business.”
For further information on Ventiv’s clinical trial certificate solution for Takeda, read the full case study.
