Riskonnect Acquires Ventiv Technology: Enhancing Risk Management Solutions for Global Customers

Riskonnect, the leader in integrated risk management (IRM) solutions, has recently announced its acquisition of Ventiv Technology, a market-leading provider of risk, insurance, and underwriting technology solutions. This strategic acquisition aims to drive growth and innovation for Riskonnect and accelerate customer value by bringing all aspects of risk under one roof.

The acquisition of Ventiv by Riskonnect is expected to bring enhanced value to over 2,500 combined customers worldwide. Ventiv is known for its innovation in RMIS Analytics, claims administration, billing, and policy solutions. Riskonnect, on the other hand, is sought after for the breadth and depth of its integrated risk management platform. Together, the combined offerings will create a comprehensive suite of risk management tools that streamline data management, provide actionable insights tailored to specific business sectors, and turn risk into a strategic advantage.

Jim Wetekamp, Riskonnect's CEO, expressed excitement about welcoming the entire Ventiv team to the company. He stated, "The acquisition adds substantial value for our customers, giving users of both companies access to a broader range of products and services that are intentionally designed to meet the diverse needs of modern risk management." Wetekamp further added, "Our complementary technologies and shared commitment to helping customers stay ahead of the rapidly evolving risk landscape positions all our key stakeholders for success."

By combining their expertise and technology across incident tracking, claims administration, claims management, governance, risk, and compliance (GRC), business continuity and resilience, and predictive analytics, the two companies create a one-stop-shop for organizations seeking end-to-end risk solutions.

Salil Donde, Ventiv's CEO, shares Riskonnect's mission to transform the way companies manage risk. He believes that pooling their resources and expertise will enable them to continue innovating on AI-driven predictive analytics and expanding their reach globally to best serve the present and future needs of their customers.

Riskonnect's majority investor, TA Associates, a leading global private equity firm, supported the acquisition of Ventiv with additional investment capital. This partnership will continue, with TA remaining as the majority owner. The acquisition was advised by Union Square Advisors LLC for Ventiv and Davis Polk & Wardwell for legal matters, while Kirkland & Ellis LLP served as legal advisor to Riskonnect.

The collaboration between Riskonnect and Ventiv Technology is highly regarded in the industry. Patrick O'Neill, president and founder of Redhand Advisors, said, "By joining forces, Riskonnect and Ventiv Technology are not only consolidating their technological expertise but also strengthening their commitment to providing leading RMIS solutions to customers seeking to optimize their risk management strategies."

For more information about Riskonnect and its integrated risk management solutions, please visit their official website at www.riskonnect.com.

About Riskonnect:

Riskonnect is the leading integrated risk management software solution provider. With its unique risk-correlation technology, organizations are empowered to anticipate, manage, and respond to strategic and operational risks in real-time across the extended enterprise. Their platform is trusted by over 2,500 customers across six continents, and they have a team of more than 1,100 risk management experts worldwide. To learn more, visit www.riskonnect.com.

About Ventiv Technology:

Ventiv Technology is a global provider of risk management information systems (RMIS), enterprise risk management (ERM), insurance claims, billing, and policy administration technology. Their solutions, integrated with market-leading analytics and predictive models, are used by insurers, brokers, corporate entities, governments, third-party claims administrators, and risk pools across various industries. To learn more about Ventiv Technology and its offerings, please visit www.ventivtech.com.