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Review of Ventiv's IRM/Digital and Claims Module
March 28, 2024

Review of Ventiv's IRM/Digital and Claims Module

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Ventiv Claims

Pay attention to your corporate hierarchy, homework done upfront will pay dividends later on when you enter fewer unexpected problems. Make sure your accounting department updates you with newly acquired entities and their corporate codes.
We use IRM and Digital to automate and track exposure information. To ease administration the Digital forms tool is deployable to individuals who don't necessarily need to be full users of the IRM system which eases the administrative burden among other positive aspects.

We have also used RiskConsole/IRM to track asbestos claim dollar across multiple policy years.
  • easy user interface
  • good reporting
  • able to spread dollars across multiple policies
  • better linking to multiple policies
  • It can house claims from multiple 3rd party vendors all in one database
  • Our company owns the claim data, we don't need to rely on paying access fees to discontinued TPAs
  • Positive: Able to track claims in one place from multiple data TPAs
  • Negative: Calculating an ROI on a cost center is difficult
  • Negative: In house expertise is needed to coordinate with Ventiv to properly administer the system.
It has enabled our Risk Management department to centralize our claims and reporting. It also allows dashboards to be created for the benefit of our internal Legal and Accounting teams.
  • Online Training
  • In-Person Training
Good background training but not detailed enough.

Ventiv is increasing the training topics, but sometimes there is little training available for our specific needs.
Various other TPA systems like Broadspire, Sedgwick and Travelers eCarma.

The TPA and carrier systems are improving but Ventiv claims is a superior product.

Do you think Ventiv Claims delivers good value for the price?

Not sure

Are you happy with Ventiv Claims's feature set?

Yes

Did Ventiv Claims live up to sales and marketing promises?

No

Did implementation of Ventiv Claims go as expected?

Yes

Would you buy Ventiv Claims again?

No

Our main use surrounded the tracking of historic toxic tort claims that spanned multiple policy years. One of our carriers internally has the same capabilities but limits access to their systems to only a very high summary basis. By housing claims within the IRM system we can track those claims and spread losses across multiple policy years to validate the lead carrier spreading of losses.