Ventiv Technology to Include IBM Watson Analytics as Part of Its Insurtech Software Solution

Posted on 27 Feb 2018

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.

Ventiv Technology, the world’s largest global, independent provider of risk, insurance, and Environment, Health & Safety (EH&S) software, has announced 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.

Anthony Ko, Regional Manager, Asia of Ventiv Technology, added, “IBM Watson Analytics is an exciting addition to Ventiv’s analytics capabilities. Now, our clients in Asia can take advantage of automated predictive analytics capabilities that transform them into true citizen data scientists. This highly intuitive tool enables companies to interact with their data conversationally utilizing natural-language querying. Furthermore, with our more than 45 years of experience, RiskConsole Advance users can be up and running with advanced analytics faster and more cost effectively than ever before.”