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Riskonnect, an built-in threat administration options supplier, has acquired threat, insurance coverage and underwriting options firm Ventiv Know-how for an undisclosed quantity.
Primarily based within the US, Ventiv provides enterprise threat administration, threat administration data methods (RMIS), insurance coverage claims, billing and coverage administration options, leveraging its analytics and predictive fashions.
The newest strategic transfer is predicted to assist Riskonnect drive enterprise development in addition to worth for its clients by centralising all elements of threat administration.
The acquisition of Ventiv will considerably improve the worth proposition for the mixed buyer base, which exceeds 2,500 globally.
Ventiv’s experience in RMIS Analytics, together with synthetic intelligence/machine studying, benchmarks and geospatial options, will complement Riskonnect’s complete threat administration platform.
Prospects of each corporations will profit from a extra intensive suite of threat administration instruments designed to streamline information administration, present actionable insights tailor-made to particular industries, and rework threat right into a strategic enterprise benefit.
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The businesses’ experience and expertise in enterprise continuity, claims administration, claims administration, governance, incident monitoring, predictive analytics, resilience and threat will additional place Riskonnect as a one-stop vacation spot for end-to-end threat options.
The newest acquisition was supported by Riskonnect’s present majority investor, TA Associates, a personal fairness agency.
TA, which can proceed to take care of its place as the bulk proprietor, supplied further funding capital for the transaction.
Union Sq. Advisors acted as Ventiv’s unique monetary advisor, whereas Davis Polk & Wardwell served as Ventiv’s authorized advisor for the acquisition.
Kirkland & Ellis supplied authorized recommendation to Riskonnect in the course of the acquisition course of.
Riskonnect CEO Jim Wetekamp mentioned: “The acquisition provides substantial worth for our clients, giving customers of each corporations entry to a broader vary of services and products which might be deliberately designed to fulfill numerous wants of contemporary threat administration.”
Ventiv CEO Salil Donde added: “Pooling our sources and experience permits us to proceed to innovate on AI-driven predictive analytics and increase attain globally to finest serve current and future wants of our clients.”
In October 2022, Riskonnect collaborated with insurtech firm LineSlip Options for higher insurance coverage programme administration.
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