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Ventiv Technology to include IBM Watson Analytics as part of its insurtech software solution

Ventiv Technology will be the first and only company in its sector to offer IBM Watson Analytics as an embedded and fully integrated component within its platform.

ATLANTA--Ventiv Technology, the world’s largest global, independent provider of risk, insurance, and EH&S software, announced today that IBM Watson Analytics is now available as part of Ventiv’s insurtech software solution, RiskConsole Advance. Ventiv is the only provider in its sector of the risk technology market to integrate IBM Watson Analytics as its advanced analytics and smart data-discovery solution

IBM Watson Analytics can identify root cause, trends, outliers and predictive factors which are critically important to implement effective risk management and loss control initiatives.  With IBM Watson Analytics, Ventiv customers can identify complex correlations with a simple, natural language interface. RiskConsole Advance with IBM Watson Analytics can combine third-party data (such as weather, census, and social data) which expands the possibilities even further.

Bill Diaz, Ventiv Technology’s Chief Executive Officer, said, “We are extremely excited to expand our partnership with IBM by embedding Watson Analytics into our products. Ventiv has been a long-time partner with IBM, establishing the partnership in 2009 and is now embedding the Cognos Analytics solution into RiskConsole Advance. The addition of Watson Analytics will provide an unprecedented ability for our clients to manage their increasingly complex risk environment. This unique and powerful combination provides the type of innovation and market-leading value that Ventiv clients expect.”

“Whether you are ultimately trying to reduce your cost of turnover, improve loss control, or minimize risk exposure, our collaboration with Ventiv demonstrates how Watson Analytics can help you make more informed decisions, enhance your strategy, and help reduce the time and costs of traditional analytics processes,” said Marc Altshuller, General Manager for Business Analytics, IBM.

Kristi McFarlin, Ventiv Technology’s Vice President, Analytics, said, “IBM Watson Analytics is an exciting addition to Ventiv’s analytics capabilities, which already include Cognos Analytics today. Now, RiskConsole Advance users can take advantage of automated predictive analytics capabilities that transform users into true citizen data scientists. This highly intuitive tool enables users to interact with their data conversationally utilizing natural-language querying. The benefits to risk, claims, and safety managers don’t end with the technology. With our more than 45 years of experience, Ventiv augments the value of IBM Watson Analytics by combining technology with domain knowledge. From curated datasets to pre-configured data assets, from directed starting questions to deployment accelerators, RiskConsole Advance users can be up and running with advanced analytics faster and more cost effectively than ever before.”

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About Ventiv Technology:
Our people, software, and innovative solutions empower organizations to achieve optimal results of their risk, insurance, and safety programs. Through the depth and breadth of our software solutions, global capabilities, and domain expertise, we are the proven leader in supporting virtually every type of industry and the largest and most complex companies in the world. Ventiv Technology proudly partners with over 550 organizations and 300,000 users in more than 40 countries. For more information, please visit www.ventivtech.com or @VentivTech.

 

Media Contact:
Jim Dickinson jim.dickinson@ventivtech.com +1.704.756.3225

 

For immediate release

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Publication date: 18 January 2018