Riskonnect acquires Ventiv Technology to revolutionize integrated risk management

Riskonnect, a leader in integrated risk management (IRM) solutions, has announced its acquisition of Ventiv Technology, a provider renowned for risk, insurance, and underwriting technology solutions. This acquisition is a strategic move to enhance growth and innovation for Riskonnect and deliver value for over 2,500 customers worldwide.

Ventiv is celebrated for its innovative RMIS Analytics, including AI/Machine Learning, Benchmarks, and Geospatial solutions, along with claims administration, billing, and policy solutions. Riskonnect, known for its extensive integrated risk management platform, plans to integrate these offerings to create a comprehensive suite of risk management tools. The merger aims to streamline data management, offer tailored insights to specific business sectors, and leverage risk as a strategic advantage.

Jim Wetekamp, CEO of Riskonnect, expresses his enthusiasm: “We’re thrilled to welcome the entire Ventiv team to Riskonnect. 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.”

The combined expertise of both companies in incident tracking, claims management, governance, risk, compliance (GRC), business continuity, resilience, and predictive analytics promises a one-stop-shop for organizations seeking comprehensive risk solutions.

Ventiv’s CEO, Salil Donde, comments: “Pooling our resources and expertise enables us to continue to innovate on AI-driven predictive analytics and expand our reach globally to best serve the present and future needs of our customers.”

Riskonnect’s current majority investor, TA Associates, a prominent global private equity firm, supported this acquisition with additional investment capital, ensuring continued growth and innovation in the risk management sector.