3sixty_client_and_prospect_publication

Q4 | 2014

3SI

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STAGECOACHINCREASED SPEED AND CERTAINTY WITH STREAMLINED PROCESSES

USER INTERFACE WORKFLOW CREATED WITH CLIENTS IN MIND

DATA INTAKEUNIVERSAL TOOL PRODUCES EFFICIENCIES

≤ ≤

POWERING A BRIGHT FUTURE

check out more... NEWS & INSIGHTS ON THE VENTIV BLOG blog.ventivtech.com/blog

EXPLORE

Take a moment to read Ventiv CISO David Black’s article on page 20, which focuses on the trend of senior leadership asking risk managers to take greater ownership of cyber risk. To read more of David’s insights into data security and privacy, visit the 3SIXTY blog and click on the box at the top to see all of David’s posts.

VISIT BLOG.VENTIVTECH.COM/BLOG

READThinking about investing in a RMIS for your next insurance renewal? Read Managing Director of EMEA for Ventiv Steve Cloutman’s blog post, 10 Ways to Find Out if You Need a RMIS for Your Next Insurance Renewal, for tips and insights into making your decision.

REVIEWEASIER NEGOTIATION WITH INSURERS IS JUST ONE OF THE REASONS THAT ACCURATE, COMPREHENSIVE RISK DATA IS VALUABLE TO YOUR BUSINESS. FOR MORE ON THE VALUE OF RISK DATA, REVIEW VENTIV VICE PRESIDENT KEN ANCONA’S BLOG, 5 REASONS RISK DATA IS VALUABLE FOR BUSINESSES OF ANY SIZE.

3SI BLOGWHERE VENTIV SUBJECT MATTER EXPERTS SHARE THEIR EXPERIENCE

]36% OF IT EMPLOYEESBELIEVE THEIR FIRM HAS EXPERIENCED A POSSIBLE DATA BREACH THAT HAS GONE UNDETECTED. (Boardroom Cyber Watch Survey 2014, IT Governance) [

11%

11% OF RESPONDENTS BELIEVE THAT CLOUD COMPUTING WOULD BE THE MOST LIKELY NETWORK SECURITY CHALLENGE IN THE NEXT 12 MONTHS. (ISACA, 2012 Governance of Enterprise IT)

30 MILLION

JAPAN

POTENTIALLY AFFECTED IN THE METROPOLITAN AREA OF TOKYO-YOKOHAMA IN JAPAN MAKING IT THE MOST EARTHQUAKE-EXPOSED METROPOLITAN COMMUNITY. (Swiss Re, Mind the Risk)

379 MILLION

RESIDENTS ARE AT RISK OF FLOODING IN THE 616 METROPOLITAN CITIES ASSESSED ACROSS THE GLOBE

(Swiss Re, Mind the Risk)

70%EUROPEAN UNION

OF EU CITIZENS ARE WORRIED ABOUT THE MISUSE OF THEIR PERSONAL DATA. (European Commission’s Directorate General for Justice)

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95 MEDICAL MALPRACTICE LAWSUITS, ON AVERAGE, ARE FILED FOR EVERY 100 PHYSICIANS NOW IN PRACTICE. (American Medical Association, Physician Practice

Information Survey)


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Information Survey)

RISKY DIGITS

Risk. Reinsurance. Human Resources.

Aon Risk Solutions

Data is Global. Your Business is Local. Aon is both.Our approach is united: global capabilities, delivered locally.

Working together with our clients, colleagues and communities, Aon strives every day as a united team to Empower Results.

Let Aon empower results for your organization. Learn more at aon.com

I’m pleased to introduce another issue of 3SIXTY° — our first edition as the new, independent company Ventiv Technology.

We announced the cre-ation of Ventiv in September. Formerly known as Aon eSolutions, we now have a new owner/investor: the private-equity firm Symphony Technology Group.

Please turn to page 8 to get the full story behind how we became Ventiv and, more important, what it means for our customers both now and in the future. In short, we’re convinced it’s a very positive develop-ment. Symphony Technology Group invests exclusively

in mid-market technology providers like us, and we share a commitment to growing Ventiv Technology in a way that benefits our clients. Moreover, we’re maintaining our close ties with former parent com-pany Aon PLC.

One of our top priorities in making the transition from Aon eSolutions to Ventiv Technology has been making the change smooth for our customers. With several months as Ventiv under our belt, I think we accom-plished our goal of making the transition a non-event for customers. In that sense, I think this issue of 3SIXTYº reflects both consistency

and the exciting changes we’re pursuing.

As usual, we have several compelling case studies in this issue. From the U.K. we have Stagecoach, a leading international bus, coach and rail operator; their case study features the cutting-edge data collection processes we helped Stagecoach design and implement in RiskConsole.

From our Americas client Experience Conference in New Orleans in September, we have two case studies based on client-led sessions: Cummins, Inc., and Rite Aid. Please also take a moment to see the photo collection we’ve put together from the

Americas Experience as well as the EMEA Experi-ence, which was held in Amsterdam in November (page 22). Our client confer-ences have long been a mainstay of our client engagement and will remain important events now that we’re Ventiv Technology.

Ventiv customers can also expect continuing innovation and product enhancements from us. I hope you’ll take a moment to read about two exciting developments we’re covering in this issue of 3SIXTY°. The remarkable user interface released this fall is the big-gest update ever to our Risk-Console system, and as our

Gaurav Tandon explains, the new user interface is much more than just a pretty face. We also have an in-depth Q&A with our Mark LeVeque, who discusses our new universal intake tool, what it is and how we went about designing and deploying it.

As always, I look forward to hearing from you with your thoughts about this issue of 3SIXTY°, or about anything on your mind.

Drop me a line atkathleen.burns@ ventivtech.com.

KATHY BURNS

CHIEF EXECUTIVE OFFICER

VENTIV TECHNOLOGY

INTRODUCING A NEW 3SIXTY° FOR A NEW COMPANY

ELEVATING INFORMATION SECURITY FOR OUR CLIENTS AND INTERNALLY

At many organizations, senior lead-ership is asking risk and insurance managers to take greater ownership of cyber risk. Chief Information Security Officer David Black has written a piece on page 20 that we think will help you get your bearings as you begin to navigate the world of cyber risk.

I’d also like to note here that we at Ventiv Technology have a deep appreciation for the importance of data security and privacy. As proof of that, we’re the only technology provider in the risk, insurance and safety market with a CISO — and

we‘ve had one in David Black since 2009. As further proof of our com-mitment to security, we recently announced a major organizational change: the CISO now reports directly to the CEO.

Policies, processes and procedures once thought to be outside the scope of traditional IT authority now fall into the realm of data security. David goes into this in his article, giving the client perspective, but from our standpoint, we recognize this new reality and want it to be reflected within Ventiv, as well.

ARE YOU READING THE VENTIV BLOG?WE LIKE TO THINK OF THE 3SIXTY° PUBLICATION YOU’RE READING NOW AS A USEFUL RESOURCE FOR OUR CLIENTS AND FRIENDS IN THE RISK, INSURANCE AND SAFETY COMMUNITY. BUT I WANT TO RECOM-MEND ANOTHER INFORMATION SOURCE TO YOU: THE VENTIV 3SIXTY° BLOG, AT BLOG.VENTIVTECH.COM/BLOG.

HERE YOU’LL FIND INSIGHTS AND OBSER-VATIONS ON THE MOST IMPORTANT TOPICS IN THE RISK, INSURANCE AND SAFETY WORLD FROM OUR MANY EXPERT STAFF MEM-BERS. PLEASE TAKE A MOMENT TO VISIT OUR BLOG, AND SIGN UP FOR EMAIL NOTIFICA-TIONS WHENEVER WE POST A NEW BLOG.

“Aon eSolutions is now Ventiv Technology. Our name has changed, but our mission remains the same.”

— KATHY BURNS, CEO, VENTIV TECHNOLOGY

PERSPECTIVE

VENTIV TECHNOLOGY ////////////////////////////////// 3SIXTYº | 1


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EDITORIAL

EDITOR-IN-CHIEFGlenn Peake+1 404 394 [email protected]

CONTRIBUTORSDavid BlackKathy BurnsJason HefflegerSamantha JonesMark LeVequeMalcolm MarwickDominic Mellor Gaurav Tandon

BUSINESS

DESIGN FIRMSoloflight126 Sloan Street Roswell, GA 30075+1 770 925 1115 soloflightdesign.com

PRINTERTucker Castleberry 3500 McCall Place Atlanta, GA 30340 +1 770 454 1580 tuckercastleberry.com

FEEDBACK AND COMMENTSJim DickinsonDirector of Global Marketing +1 704 665 1977 [email protected] visit: ventivtech.com

COMPANY CONTACTS:David CrossChief Marketing Officer+ 1 770 308 [email protected]

AMERICASMonte Dalton+1 813 404 6944 [email protected]

ASIAEric [email protected]

AUSTRALIAJustin Gale+61 2 9253 7436 [email protected]

FRANCEEric Leenhardt+33 1 47 83 05 [email protected]

GERMANYDon Rorlach+ 49 40 3605 3372 [email protected]

EMEAMark Holt+44 (0)20 7086 0912 [email protected]

EMEASteve Cloutman+ 44 (0)20 7882 0974 [email protected]

UNITED KINGDOM Carl Sargent +44 (0)20 7086 [email protected]

WHO IS VENTIV TECHNOLOGY?

Ventiv Technology, formerly Aon eSolutions, is a market-leading provider of risk, insurance and safety technology solutions. Ventiv delivers innovative risk management, claims administration, auditing and safety management systems that help customers achieve successful outcomes. Headquartered in Chicago, Ventiv has more than 300 employees in the U.S., E.U., Asia and Australia.

Our market-leading risk management, claims administration, auditing and safety management systems are delivered on RIScloud® and provide measurable value by aggregating data, streamlining business processes and optimizing resources.

WHAT IS 3SIXTY°?

Ventiv Technology publishes 3SIXTY° quarterly as an informational resource for clients and prospective clients.

WHY AM I GETTING 3SIXTY°?

We hope you’ll find what’s inside interesting and useful. We feature Ventiv Technology clients and the results-producing practices they’re applying in their risk, insurance and safety programs. Also in 3SIXTY°, Ventiv Technology experts share their analysis and perspectives on business, technology and compliance issues of consequence for clients.


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2 | 3SIXTYº ////////////////////////////////// VENTIV TECHNOLOGY

POINT OF ENTRY New Universal Data Intake Tool Produces Efficiencies

WHERE TO START? Cyber Risk Moves Inexorably into the Risk Manager’s Realm

2014 EXPERIENCE CONFERENCES Learning and Networking Opportunities at These Annual Events

GO WITH THE WORKFLOWUser Interface Helps Users Do Things Better and Faster

DEPARTMENTS

4 RITE AID

RITE ON TRACK Enhanced Data Consolidation and Reporting Sets In-house Claims Unit on Speedy Course to Outstanding Results

CUMMINS

GENERATING TCOR Customization Saves Time and Enhances Accuracy for Engine Company’s TCOR Reporting

VENTIV TECHNOLOGY

INSIDE THE LAUNCHOur Name Has Changed, But Our Mission Remains the Same

STAGECOACH

TRANSPORTING EFFICIENCY Greater Control over Motor Claims Sets Stagecoach on a Route to Success

6

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FEATURES

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“We’ve designed our new universal intake tool to enable organizations to record virtually anything that needs to be collected from the field.”–Mark LeVeque

INSIDE 3SIXTY˚Q4 | 2014


RITE ONTRACKDrugstore chain Rite Aid uses iVOS for claims administration and RiskConsole for consolidated reporting—with outstanding results



Since bringing administration of its general liability and druggist liability (GL) claims in house, however, Rite Aid has generated seven-figure, straight-to-the-bottom-line savings—annual savings that amount to about half of what Rite Aid used to pay TPAs.

Rite Aid determined it would be more cost effective to bring GL and druggist liability claims in house. In addition to the savings cited above, Rite Aid is also see-ing a reduction in its average cost per claim. How did Rite Aid get to this improved position, and what lessons can other large retail organizations learn from their story?

Rite Aid has been a Ventiv RiskConsole client since 2009. In 2012, Rite Aid brought on 15 in-house adjusters and began day-to-day claims administration in RiskConsole. To enhance the long-term performance of its in-house claims unit, however, Rite Aid decided to implement the Ventiv iVOS claims adminis-tration system in 2013.

Yet as Jason Heffleger, busi-ness analytics manager with Rite Aid, told an audience of claims managers at the 2014 Experience Conference, RiskConsole remains a vital part of Rite Aid’s in-house claims administration. Whereas

iVOS has helped to further streamline claims administra-tion, RiskConsole generates consolidated risk management reports that have helped Heffleger and his risk manage-ment colleagues improve the monitoring and management of their claims administration.

THIS IS HOW THE RITE AID SYSTEM WORKS:

// Stores report some 1,700 inci-dents per month by phone to a third-party intake center (less than 10 percent of incidents reported become claims).

// The third-party intake center makes a daily feed of all incidents reported into iVOS.

// Examiners manage incidents and claims in iVOS (every incident is investigated).

// RiskConsole receives a monthly feed from iVOS from which Heffleger runs a sophisticated reporting regimen. RiskConsole also gets monthly feeds from six different TPAs, which still handle workers’ compensation and auto liability claims for Rite Aid. And finally, Heffleger manages the monthly feed into RiskConsole of Rite Aid exposure data, including headcount, pay-roll dollars and payroll hours, and prescription volume and pharmacist information.

“We’re dropping a very large amount of data into RiskConsole in order to generate our consoli-dated reporting,” Heffleger notes. “We have a lot of different reports produced from this data, including VAO [valued as of] reports and litigation reports. As a client of the combined RiskConsole and iVOS systems, we have a lot of flexibility to decide what data goes from our claims administration system into our RMIS. We take just what we want and use it in the reports we want to produce.”

As for the process of moving claims administration to iVOS, Rite Aid had a very ambitious schedule, and Ventiv met it. iVOS went live in six months for Rite Aid. Notably, Rite Aid uses iVOS through the Ventiv-hosted RIScloud technology infrastruc-ture, which helped with speed of implementation.

Solution Profile

We are dropping a very large amount of data into RiskConsole in order to generate our consolidated reporting.

JASON HEFFLEGER, BUSINESS ANALYTICS MANAGER, RITE AID

UNTIL 2012, DRUGSTORE CHAIN RITE AID’S SPENDING ON FEES to third-party administrators ran well into seven figures. With 89,000 associates and 4,500 stores nationwide, it’s easy to see how claims handling fees could rack up.

GENERATINGTCORAt the 2014 Client Experience Conference, RiskConsole client Cummins showcased its use of risk management technology in determining reporting and analyzing total cost of risk.


IT’S WELL KNOWN IN THE RISK AND INSURANCE WORLD that total cost of risk (TCOR) is an important way to help businesses allocate capital, protect assets and reduce volatility. Although TCOR is perhaps most often defined as the sum of risk management costs, risk retention costs, and risk transfer costs, every business measures it a little differently.

For Ventiv RiskConsole client Cummins, Inc., TCOR comprises premiums, losses and all risk and insurance expenses. Cummins uses TCOR as a tool to capture, measure and analyze data, which is then used to design a strategy that supports the company’s risk appetite. According to Samantha Jones, risk insurance analyst, Cummins risk management uses TCOR to show how it’s performing and adding value to the company.

Clearly, TCOR is very important to Cummins, which designs, manufactures, distributes and services diesel and natural-gas engines and engine-related components. Cummins generated $17.3 billion in sales in 2013, employs some 48,000 people and services customers in 190 countries.

In 2009, Cummins began a two-stage process of configur-ing RiskConsole to support the annual process of ascertaining TCOR, which focused primarily on preparing the data already held in RiskConsole’s policy and claims modules for analysis and reporting.

According to Jones, Cummins had three major challenges it wanted to address around measur-ing and reporting on TCOR:

// An overwhelming amount of data to collect and organize from many international locations;

// A strenuous, largely manual front-end data collection process; and

// A manual process of integrating all data into a single spread-sheet, which was not only time-consuming, but also prone to error.

Working with Ventiv account manager Tracy Harding, Cummins risk management set out to configure RiskConsole as a tool that would collect and measure consistent TCOR data year over year in a repeatable, sustainable way. Harding and the Ventiv team built two custom modules for the Cummins TCOR project: an expense module and a corporate profile module used by Cummins during renewals. Two standard modules already in use—claims and policy—rounded out the modules used.

Ventiv and Cummins took a deliberate approach to developing the RiskConsole TCOR tool. First, they focused on a single category, like premiums, losses and so on. Next, they identified the data elements needed for each category. Then, they developed consistent calculations for all data elements.

The second phase of the project focused on building automated reporting processes, eliminating multiple queries and manual spreadsheet consolidations. Ventiv

and Cummins continued their deliberate approach here, too. The first priority was developing effective charts and graphs to show measurements. Then came careful evaluation of the outputs. And finally, Cummins and Ventiv worked together to identify the next steps to improve the efficiency of the process.

The Risk-Console TCOR project has delivered on the goals originally set out for it. RiskConsole now supports Jones and her colleagues in their essential TCOR calculations and reporting. According to Jones, “TCOR is essential for representing the benefits of risk and insur-ance. So we present to our senior management and board once a year to show what value we add.” In terms of efficiency, Cummins has realized strong results, as well, eliminating the five- to six-week process of collecting data and manually consolidating it in a spreadsheet.

Solution Profile

TCOR is essential for representing the benefits of risk and insurance. So we present to our senior management and board once a year to show what value we add.

SAMANTHA JONES, RISK INSURANCE ANALYST, CUMMINS

AON ESOLUTIONS IS NOW VENTIV TECHNOLOGY: OUR NAME HAS CHANGED, BUT OUR MISSION

REMAINS THE SAMEBY KATHY BURNS, CEO, VENTIV TECHNOLOGY

Start Spreading the News

Start Spreading the News


However, as Ventiv CEO Kathy Burns, writes, this was

a process that she and eSolutions management advocated and led. Burns

tells how and why it all happened, and what it means for customers. The short story: it’s a very positive development

for Ventiv and its customers.

On September 4, the creation of Ventiv Technology

was announced. formerly known as Aon eSolutions, Ventiv

Technology has a new owner/investor: the private-equity firm

Symphony Technology Group.

?HOW DID AON eSOLUTIONS BECOME VENTIV TECHNOLOGY ...

We considered a wide range of ways to get

eSolutions to the place it needed to be in terms of our

investment and management model, including remaining within Aon but with a different approach to fostering the growth of our business. In the end, eSolutions and Aon leadership came to the decision that both companies—Aon and eSolutions—could better serve our customers’ current and future needs with the backing of a new investor—an investor with experience in and an understanding of the technology market.

So Aon put eSolutions up for sale early this year. There was tremendous interest in eSolutions from the market. I was really gratified by the high number of serious bidders who took part in the process. For one thing, the bidders validated our current five-year

strategic growth plan (initiated in 2011); we were happy that independent sources agreed that we are on the right track. Second, we heard from numerous bidders that the kind of spinoff Aon wanted to make with eSolutions happens all the time. In other words, it’s common for the technology units of large companies in a wide range of industries to “outgrow” their parent companies. And what’s more, once technology units like us are spun off, they really soar.

Throughout the process of finding a new investor/owner for eSolutions, our primary goal was to find an investor who understood us and our business and wanted to invest in us for accelerated growth. We performed exhaustive due diligence with a number of potential buyers and, in the end, eSolutions senior management and I selected Symphony Technology Group as our new owner/investor.

Beginning in 1972, eSolutions was Aon’s risk, insurance and safety technology business. eSolutions was the last of several names for Aon’s technology business, but Aon ownership and the focus on technology were constants.

It’s quite an under-statement to observe that the technology industry has changed profoundly between 1972 and today, but it’s an important point to keep in mind when explaining why eSolutions set out to find a new owner.

A particularly relevant change for eSolutions is that in recent years it’s become increasingly challenging for large companies—companies for which technology is not a core business— to own and manage a technology unit.

For most of eSolutions’ existence as an Aon business, our being a unit of Aon was a very good business model. Aon recognized the need to provide its cus-tomers—as well as organizations that are not Aon customers — with technology solu-tions to help them manage their risk and insurance functions. Today, however, the market for risk and insurance technology is more competitive than ever. Moreover, there’s more potential than ever before for technology firms to deliver value to risk and insurance managers.

So, about two years ago, the eSolutions senior management team and I initiated discussions with Aon’s leadership team about the future of eSolutions. Together, we determined that eSolutions needed to operate within a dif-ferent investment and management model.

?HOW DID WE FIND OUR NEW INVESTOR ...


Symphony Technology Group (STG), our new owner/investor, is a strategic private- equity firm with the mission of investing in and being a partner to build great software and services companies. STG is focused exclu-sively on middle-market software, data services and analytics compa-nies. STG understands the need to invest to grow, as well as the unique ROI models and timeframes associ-ated with technology companies.

STG also understands that the technology market is fast-paced, so STG empowers its companies to make decisions quickly and move

fast. All of STG’s portfolio companies have access to investors who have been operators and CEOs them-selves and understand the intense challenges that leadership teams face every day.

In short, STG brings tremendous depth of experience and capabilities that we will leverage to the benefit of our customers. As CEO of Ventiv Technology, I will report to a board of technology-industry executives who will help us think strategically about managing and growing the business in a way that maximizes the value clients gain from our products and services.

?WHAT DOES OUR NEW OWNER/

INVESTOR BRING TO THE TABLE ...

?THE TRANSITION AND BEYOND—

A CONTINUING AON PARTNERSHIP ...

I hope I’ve been successful in making the point that eSolutions becoming the independ-ent, private company now known as Ventiv Technology is the logical next step in our evolution as a partner to our customers. As Ventiv, we are still following the same five-year plan we unveiled in 2011, but with an investor committed to Ventiv moving to the next level. In fact, our becoming an independent company only strengthens that strategy. As Ventiv, our team will continue to move forward with our current plans: RIScloud, RISone and Project Reveal.

STG made the decision to support us in large part because, after rigor-ous examination, it validated the strategic growth plan we put into place several years ago. At the same time, as a growth-oriented investor who understands the technology industry, STG is open to proposals for additional investments; STG understands the timeframes and ROI considerations that factor into investment decisions.

The good news for clients is that as Ventiv, we are now in a position to have productive conversations with Symphony about how we can grow faster and better, with the goal of delivering continuously improving products and services to our clients.

WHAT DOES THIS MEAN FOR RISone

AND PROJECT REVEAL ...

?

IT’S A NEW, EXCITING DAY FOR VENTIV AND OUR CUSTOMERS

I hope it comes across clearly in this piece that all of us at Ventiv are very excited about our becoming a

newly independent company. Our new owner/investor, Symphony Technology Group, is committed to our

success in serving our customers. Likewise, Aon is committed to Ventiv and its customers by means of a strong partnership. And we at Ventiv are focused on advancing clarity and efficiency in our customers’

risk, insurance and safety operations.

Although our name and

owner/investor have changed, the entire Ventiv team’s commitment to our customers’ success is as strong as ever. At the transition level, we’re working against a com-prehensive transition plan that covers every facet of our operations and is designed to minimize any impact to our customers’ businesses. We are com-mitted to doing everything possible to make this transition as seamless as possible for our customers.

In terms of our relation-ship with Aon, I’m delighted that Ventiv will maintain close relations with Aon.

We have entered into a multi-year agreement under which Aon will resell exclusively Ventiv’s RMIS and claims administration solutions. A significant number of Aon clients use what are now Ventiv prod-ucts and services.

Aon understands that as an independent company, Ventiv will be best positioned to thrive and provide the best value for both Ventiv’s and Aon’s clients. What’s more, Aon recognizes that it has a compelling interest in seeing Ventiv grow and thrive: namely, maintaining and improving its relation-ship with current and future Aon clients. The bottom line is, we will continue to work closely with Aon with the goal of helping our customers be successful.

TRANSPORTING EFFICIENCY

– MALCOLM MARWICK, HEAD OF CLAIMS AT STAGECOACH GROUP

“RiskConsole makes it easier to keep track of the financials and manage claims within the provisions we’ve set for the year.”

VENTIV TECHNOLOGY PROVIDES STAGECOACH WITH A STREAMLINED PATH TO INCREASE EFFICIENCY AND ACCURACY FOR ITS CLAIMS MANAGEMENT NEEDS.

01client foc us

STAGECOACH GROUP PLC, A LEADING INTERNATIONAL BUS, COACH AND RAIL OPERATOR, WANTED AN EASIER AND MORE STRAIGHTFORWARD WAY TO ASSESS MOTOR INCIDENTS FOR IT’S EXTENSIVE NETWORK OF TRANSPORTATION VEHICLES.

UK-based company, Stagecoach Group, wanted to implement a single data- collection process that would deliver efficiencies, allow for easier mainte-nance of claims against provisions, and facilitate the development of accident-reduction strategies.

SPECIFICALLY, STAGECOACH NEEDED A SYSTEM THAT COULD:

//// Produce and distribute reports at the click of a button

//// Automatically match claims with the correct vehicles and depots

//// Provide access to all motor claims and financials from one source

THE MOTOR CLAIMS CHALLENGE

Stagecoach uses an in-house team, PSV Claims Bureau, to manage claims. The key goals of this in-house team are to accurately report on claims, deal with those claims within projected costs, and assist in reducing blameworthy incidents.

Although PSV Claims also manages casualty and property claims, Stagecoach’s main risk area is motor claims.

For these claims, Stagecoach’s ideal process is to record their motor claims, below the deductible, as well as initiate payments and estimates in one system. Then this claims information needs to be efficiently reported to different stakeholders.

SWITCHING TO RISKCONSOLE

Stagecoach was using an existing RMIS, but it wasn’t providing them with the flex-ibility and unity of data they needed.

“While the previous system was fine, we knew that we’d have to change it sig-nificantly to match our updated incident reporting processes and be easy for everyone to use,” says Malcolm Marwick, Head of Claims at Stagecoach.

Marwick and his team also wanted a more modern-looking system with a flexible and user-friendly reporting tool that could deliver time savings when running reports.

WORD-OF-MOUTH RECOMMENDATION

Stagecoach’s search for a new RMIS started with a list of potential systems. A peer recommendation set RiskConsole firmly on that list.

“Associates within the transport industry spoke very highly of RiskConsole,” says Marwick. “We then saw some demon-strations of the system, which showed that it would fit the bill and help us achieve our objectives.”

Having connected with internal stake-holders to gather requirements, Stagecoach selected RiskConsole and the implementa-tion began. Marwick and his team worked directly with the RiskConsole team to set up the system, which involved migrating 20 years of claims records.

ACCESS TO CLAIMS DETAILS IN ONE SYSTEM

With RiskConsole, all of the PSV Claims staff can simultaneously gain a full under-standing of the status for each claim.

“We all have access to the details of an incident as soon as they’ve been entered, and can immediately see what we expect to pay out as an estimate, and payments that have been made,” says Marwick. “This makes it easier to keep track of the financials and manage claims within the provisions we’ve set for the year.”

REPORTING EFFICIENCIES

Another immediate benefit of using RiskConsole has been the reduction in the time it takes to produce reports.

“We produce a lot of reports – financial, actuarial, claims bandings and bus oper-ator reports,“ says Marwick. “This used to be a manual job that I can now do with one click of a button.”

The time savings also enables the PSV Claims team to spend more time with, or provide more data to, the bus operators and operational teams helping to spot trends and put safeguards in place. These tactics are helping Stagecoach to prevent potential accidents from occurring.

CONFIDENCE IN REPORTS

Employee and fleet information is now automatically pulled into RiskConsole, which helps improve data accuracy. Marwick

explains, “We used to manually type in the employee’s details. We now avoid this issue by taking a direct feed from our payroll database and vehicle database, so there’s far less potential for typos and errors.”

Within Stagecoach, the PSV Claims team is responsible for allocating indi-vidual bus operators’ costs and charges related to their claims. The new reporting tool helps facilitate this task as well.

“The updated database also helps ensure the bus operators are receiving the correct costs and yearly charges for their claims,” says Marwick.

FUTURE EFFICIENCIES

RiskConsole has now been live for a little more than six months. “We’re still bedding in,” adds Marwick, “but, we’re already starting to see benefits and they’ll be more to come.”

Marwick and his team are now looking to build in additional efficiencies by auto-mating processes and setting up the letter template tool. They also want to use the reporting tools to spot ‘claim repeaters’ and identify indicators that usually lead to future claims.

“We have RiskConsole set up in a way that will enable us to analyse the whole claims lifecycle. This will help us to improve the way we deal with claims in the future,” says Marwick.

WORKING WITH THE RISKCONSOLE TEAM

Implementing a new RMIS for a global enterprise is not without its challenges, yet the right team and system are key elements in bringing forth a strategy that provides real results for the company.

“We’ve had excellent guidance and support, as well as on-site visits from the RiskConsole team,” says Marwick. “They have an understanding of our business, what we’re trying to achieve and what we’re using the system for, which I think helps both ways.”

For those thinking about implementing a new RMIS, Marwick offers a few pieces of advice. “Plan what you want to achieve and know in advance what it is that you’re wanting out of the system so you can achieve this goal,” says Marwick.


8,300VEHICLES OPERATED 100

TOWNS AND CITIES ACROSS THE UK AND MAINLAND EUROPE ARE LINKED BY BUSES OPERATED BY MEGABUS.COM

MAJOR BUS DEPOTS ACROSS

THE UK

PEOPLE EMPLOYED BY THE UK BUS DIVISION ALONE

24,000

3 MILLIONPASSENGERS CARRIED DAILY

With a vast network of transportation vehicles and extensive operations area, Stagecoach needed a system that could manage large amounts of data across different geographic areas. RiskConsole helps Stagecoach stay current with all claims information and plan accident-reduction strategies across its fleet.

EXTENSIVE EXPOSURE NEEDS COMPREHENSIVE COVERAGE

100

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Q&A WITH MARK LEVEQUE OF VENTIV TECHNOLOGY

Mark LeVeque, a manager in the Global Product Management and Engineering Group at Ventiv Technology, shares the important considerations his team took into account

when building the new universal intake tool.

ONE OF THE IMPORTANT NEW FEATURES OF THE JUST-RELEASED UPDATE

TO RISKCONSOLE, THE BIGGEST EVER TO THE VENTIV TECHNOLOGY RISK

MANAGEMENT INFORMATION SYSTEM, IS A BRAND-NEW UNIVERSAL INTAKE TOOL.

We spoke with Mark LeVeque, a manager in the Ventiv Global Product Management and Engineering group, about how the Product team built the new intake tool and why effective data intake is important for risk, safety and claims managers.

An intake tool is, basically, an electronic, online entry form that’s built specifically for data entry—in the case of our tool, data entry by end users in the field. We use the term “universal” because we’ve designed this intake tool to enable organizations to record virtually anything that needs to be collected from the field, including incidents and claims, renewal information, safety audits and surveys, environmental incidents, and regulatory violations or visits by regulators.

WHAT EXACTLY IS A “UNIVERSAL INTAKE TOOL”?

A good intake tool will make it as easy as possible for the end user to enter data into the online form. At the same time, a good intake tool will ensure that all the necessary data is collected and is accurate.

When it comes to ease of use, it’s important to remember that end users don’t complete these online forms very often. You want them to be able to report the information quickly and easily so they can get right back to their daily routine. If it’s a claim or incident, you hope that a field user goes months or even years without needing to report something. If it’s renewal-data gathering, that’s often an annual process.

A good intake tool will present the end user with forms that are easy to read and navigate. It will also provide instructions and relevant inform-ation wherever is necessary.

When it comes to collecting all necessary data and ensuring accuracy, a good intake tool needs to be dynamic. By dynamic, I mean that the form changes based on the answers provided by end users. For example, if a sequence of answers indicates that an incident may be OSHA recordable, then the logic built into the intake tool should dynamically ask the end user to provide all information required by OSHA regulations.

WHAT ARE THE MAJOR PRIORITIES IN DESIGNING A NEW INTAKE TOOL?

Above all, we relied on more than ten years of experience in working with clients on their risk, safety and claims needs. We tried to apply everything we’ve learned from our clients about their needs and what would work best for them.

WHAT WAS YOUR TEAM’S INSPIRATION OR SOURCE OF DIRECTION WHEN BUILDING THE NEW VENTIV UNIVERSAL INTAKE TOOL?


WHAT KINDS OF RESULTS SHOULD AN INTAKE TOOL DELIVER?

A well-designed intake tool will deliver a vast improvement in the quality of data that’s captured and recorded. A phone-based, call-in reporting system relies on a person or system receiving spoken, verbal information that’s then transcribed and entered into a data repository. The opportunities for errors are obvious.

With a good online intake tool, you can gently, almost invisibly “drive” the end user down certain paths determined by the logic built into the tool. The end users are compelled to answer all relevant questions and provide all the necessary information.

A good intake tool will also improve the timeliness of the end users’ responses, because field users are more likely to respond to a well-designed form that presents all the necessary instructions up front.

We’re incorporating third-party form-building software into our RiskConsole application. It will be seamless and invisible to users, and we’ve made sure it’s a secure interaction that requires robust user authentication into RiskConsole. When we first began to look into rebuilding our intake tool, we researched extensively the third-party tools out there. We found a very strong tool that provided all the capabilities we needed.

In recent years, we’ve incorporated third-party software to meet user needs that are important but outside our core competency of risk, claims

and safety. Some examples are business intelligence with IBM’s Cognos, the risk mapping tool with Esri geographical information systems, and now with the new form-building tool.

When we first launched RiskConsole, we built a lot of our tools in house. The problem with that is that it’s difficult to maintain all of those capabilities; even more challenging is keeping up to date with the market. We found that we could do a good job initially of building non-core tools, but it’s almost impossible to keep up with specialized providers who are constantly changing and improving their offerings.

DID YOUR TEAM BUILD THE UNIVERSAL INTAKE TOOL FROM SCRATCH, OR IS IT BASED ON A THIRD-PARTY TOOL?

Our value lies in taking a robust, flexible tool like the third-party intake tool and adapting it for the needs of risk, claims and safety professionals. We have the intellectual property and experience to know not only how to securely and seamlessly integrate the intake tool with our RMIS, but also to adapt that intake tool and apply it to situations that our customers actually face. So I think there’s definitely more going on than simply bolting on the tool or plugging and playing.

IF VENTIV AND OTHER PROVIDERS OF SPECIALIZED APPLICATIONS ARE UTILIZING THIRD-PARTY SOFTWARE, WHAT’S TO KEEP USERS FROM SIMPLY ACQUIRING INTAKE, BUSINESS INTELLIGENCE AND MAPPING TOOLS THEMSELVES AND “BOLTING THEM ON” TO THEIR RISK MANAGEMENT INFORMATION SYSTEMS?

WHERE TO START?WHERE TO START?Cyber risk moves inexorably into the risk manager’s realmBY DAVID BLACK

The cover story in Risk & Insurance’s April issue put it bluntly: “In every industry and at every company size, cyber risk is a foundation-level exposure that every business must confront—one that must be viewed with the same gravity as a company’s property, liability or workers’ comp risks.” That’s because in today’s world, technology systems are core to companies of all kinds.

More and more companies seek to differentiate themselves from their competitors by emphasizing to investors their use of technology and information

assets. However, this emphasis on technology is a double-edged sword. For a long time, the primary targets of cyber criminals were technology, financial and healthcare firms. Today, reliance on technology across industries has made cyber risk an equal-opportunity threat.

The question for risk managers often comes down to, What’s the best way to approach the task of understanding and then ensuring proper mitigation of cyber risks? The answer lies in applying the same risk management principles to cyber risk that hold for any risk. It’s also essential to adopt the mindset of viewing cyber risk as an enterprise-wide exposure and not just an IT issue.

Complicating matters, however, is the fact that companies of all sizes and varieties today are dependent on third-party, cloud-based business solutions. That means that a great portion of a typical company’s cyber exposure lies outside its own systems, with third-party providers.

The problem is, in the vast majority of cases, it’s simply impossible to know what a third party’s policies, procedures and controls are with regard to data access and security. That’s why we advise risk managers to begin their immersion in cyber risk with an in-depth analysis of the critical busi-ness systems that have been outsourced to third parties—and prioritize the solutions that host or process sensitive and/or regulated data first.

At many companies, employees across the organization are using cloud solutions that require only an end-user license agreement and not a traditional business contract. IT, IS and risk manage-ment teams may have no knowledge of the range of third-party, cloud-based solutions in use across the organization. By extension, there’s no knowledge of where the data is located and who has access to it (meaning not only what individuals but what and how many companies have access to it).

The Ventiv Technology information security team recommends that organizations conduct a thorough evaluation of their dependence on third-party cloud partners. It’s the first step in understanding and identifying the risks associated with using outside software.

DAVID BLACK IS VENTIV TECHNOLOGY’S CHIEF INFORMATION SECURITY OFFICER. CONTACT DAVID AT [email protected] OR +1-770-308-5423.

senior leadership is asking risk managers to take greater ownership of cyber risk. There’s a growing consensus that managing cyber risk should no longer be the responsibility only of information security and information technology teams.

IT’S AN ACCELERATING TREND:


AN ENJOYABLE LEARNING EXPERIENCE

BY JIM DICKINSON

The annual Ventiv Experience Conferences bring 400 people together in New Orleans and Amsterdam


SOME 400 CLIENTS, PROSPECTS AND Ventiv colleagues gathered in New Orleans in September and in Amsterdam in November for the annual Ventiv Expe-rience Conferences. The Asia-Pacific Experience Conference will be held in Sydney, Australia, from May 13-14, 2015 (visit ventivtech.com/exp for information and to register).

The annual Ventiv client conference is truly something you have to experience for yourself. This year’s events featured, as usual, dozens of educational, informa-tive sessions, more than half of which were led by Ventiv clients. There were also numerous sessions with Ventiv executives and management, where clients learned in detail about Ventiv’s product roadmap while sharing their input in an engaging, interactive setting.

As the photos on these pages show, the Ventiv Experience Conference is also a very enjoyable, once-a-year opportunity for Ventiv clients to network with their peers in the risk, insurance and safety community.


2014 VENTIVEXPERIENCECONFERENCES


If you’ve never had the Experience, all of us at Ventiv hope to see you at our 2015 Americas and EMEA events in the fall of 2015.

JIM DICKINSON IS DIRECTOR OF GLOBAL MARKETING WITH VENTIV TECHNOLOGY AND A PRIME MOVER BEHIND THE EXPERIENCE.


go with the workflow

We spoke with Gaurav Tandon of the Ventiv Technology Product Engineering team about how he and his colleagues went about rethinking the brand-new user interface in the recently released RiskConsole UX (the biggest-ever update to the Ventiv risk management information system). We learned that a good user interface goes much more than skin deep: In addition to being a beautiful, appealing place to work, a good user interface (whatever the application) helps users do things better and faster.

A GREAT USER INTERFACE IS MORE THAN JUST A BEAUTIFUL LOOK AND FEEL

////////////////////////////////////////////////


a: RiskConsole UX is the biggest-ever update to our RMIS,

and updating the user interface (UI) was a huge part of the project. In fact, I think UI considerations are integral to almost every aspect of a major software update like what we’ve done with RiskConsole UX. All along, we worked hard to adapt good UI principles to what our users want and need.

At the highest level, good UI improves workflow by making it easier and faster for users to complete the tasks they perform in the system. Throughout the new UI, we’ve dramatically reduced the number of clicks users need to make to get routine tasks done. For greater access, we’ve designed the new UI to be compatible with a wide range of browsers: Internet Explorer 10 and 11; Google Chrome (for Mac and PC); and Safari for Mac.

We also added many smaller improvements that will make life easier for our users, like the new, easy to navigate multi-column menus. And within those menus, users can hover over a record and see the details of that record without changing tabs. Or, when entering their password, users can see what they’ve typed in by clicking on an eye icon.

a: It really hit home for me that what really matters in a good user interface is workflow and how easily and quickly users can get things done. The best user interfaces help you do things better and faster. Now, we wanted to create a beautiful, appeal-ing interface with colors, fonts and page layouts that make it a pleasure to work in RiskConsole; however, I firmly believe (and I think RiskConsole UX reflects this belief) that beauty has to be combined with utility.

Sometimes it’s hard to separate beauty from utility—they just come together for a really great effect. For example, we wanted to make it easy for users to quickly see more or less of a page, which speaks to workflow. Therefore, the way users can now maximize or minimize a list within a tile on a page is quite streamlined and elegant. That speaks to beauty.

a: Yes. In UI of any kind, you have to be cognizant of how your architecture and design choices impact user behavior. For us working on the new RiskConsole, that meant reducing the number of clicks users need to make and in general making the system easier and faster to use. There are two examples of how we’ve done this that share a lot in common with just about any good UI. First, virtually everything that users need to access is accessible from the front page and can be completed in one, two or three clicks. Second, we’ve made it easier to modify the tab views users see; specifically, they can add or remove tiles very quickly.

a: At the core, an application like RiskConsole is a database, a repository of great volumes of information. However, the information a database stores is only useful when it can be presented in a way that consumers of that information can understand and use to make better business decisions.

The latest thinking in UI holds that you have to put infor-mation into visual outputs like maps, line graphs, pie charts, and bar graphs—and you have to make it easy for users to see those visuals alongside more traditional lists and tables. We’ve done that by thoroughly integrating our business intel-ligence tool into RiskConsole UX. Users can quickly bring up all of their visual reports on the front page.

a: Yes, we did. We worked with a user-interface

consultant, and we evaluated and incorporated a huge volume of input from our clients—things they like about RiskConsole and things they don’t. Basically, we carefully reviewed all the feedback we’ve gotten about RiskConsole over the last few years and figured out how to incorporate it into the new UI.

Here’s an example of how that worked. We wanted to improve the process for creating or modifying tabs. Our team decided to add a button to the front page that would do that. Adding a button was a pretty easy decision, but our consultant took it a step further by suggesting that users get a preview of the screen as it will look before the change is made. So we added that. And we learned from risk man-agers that they often want to focus on a single record without leaving the list, so we made it easy to do that. Risk managers also told us they wanted to be able to maximize and minimize the tiles within a tab, so we did that, too.

a: Yes, it does. RiskConsole UX is compatible with mobile devices like the iPad. There is a mobile switch on the front page for when users want to use a tablet device. Being fully mobile capable is an extension of the work we did to expand the range of browsers in which RiskConsole UX can work; Google Chrome, Safari, and the later versions of Internet Explorer are what are called standards-based browsers. RiskConsole UX is designed to take advantage of these new standards, and that makes mobile deployment a good option.

riskconsoleGO WITH THE WORKFLOW

THE TERM USER INTERFACE CAN BE HARD TO DEFINE. WHAT DID USER INTERFACE MEAN FOR YOU AND YOUR TEAM WHEN YOU WERE WORKING ON RISKCONSOLE UX?

?

WHAT’S THE BIGGEST LESSON YOU’VE LEARNED FROM WORKING ON THE NEW RISKCONSOLE USER INTERFACE?

?

IS THERE AN OVERLAP BETWEEN GOOD UI IN THE APPLICATIONS WE USE IN OUR PERSONAL LIVES AND ENTERPRISE-LEVEL SOFTWARE LIKE RISKCONSOLE UX??

DID YOU GO OUTSIDE YOUR OWN TEAM WHEN DESIGNING THE NEW UI??

DATA VISUALIZATION IS A BIG FOCUS THESE DAYS. HOW DOES GOOD UI HELP RISKCONSOLE USERS PRESENT THE INFORMATION THEY HAVE IN MORE USEFUL WAYS??

WHAT ABOUT MOBILE CAPABILITIES? DOES UI FIGURE INTO THAT QUESTION AT ALL?

?



11%


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Information Survey)

RISKY DIGITS

Risk. Reinsurance. Human Resources.

Aon Risk Solutions

Data is Global. Your Business is Local. Aon is both.Our approach is united: global capabilities, delivered locally.

Working together with our clients, colleagues and communities, Aon strives every day as a united team to Empower Results.

Let Aon empower results for your organization. Learn more at aon.com

Q4 | 2014

3SI≤

STAGECOACHINCREASED SPEED AND CERTAINTY WITH STREAMLINED PROCESSES

USER INTERFACE WORKFLOW CREATED WITH CLIENTS IN MIND

DATA INTAKEUNIVERSAL TOOL PRODUCES EFFICIENCIES

≤ ≤

POWERING A BRIGHT FUTURE

check out more... NEWS & INSIGHTS ON THE VENTIV BLOG blog.ventivtech.com/blog

EXPLORE

Take a moment to read Ventiv CISO David Black’s article on page 20, which focuses on the trend of senior leadership asking risk managers to take greater ownership of cyber risk. To read more of David’s insights into data security and privacy, visit the 3SIXTY blog and click on the box at the top to see all of David’s posts.

VISIT BLOG.VENTIVTECH.COM/BLOG

READThinking about investing in a RMIS for your next insurance renewal? Read Managing Director of EMEA for Ventiv Steve Cloutman’s blog post, 10 Ways to Find Out if You Need a RMIS for Your Next Insurance Renewal, for tips and insights into making your decision.

REVIEWEASIER NEGOTIATION WITH INSURERS IS JUST ONE OF THE REASONS THAT ACCURATE, COMPREHENSIVE RISK DATA IS VALUABLE TO YOUR BUSINESS. FOR MORE ON THE VALUE OF RISK DATA, REVIEW VENTIV VICE PRESIDENT KEN ANCONA’S BLOG, 5 REASONS RISK DATA IS VALUABLE FOR BUSINESSES OF ANY SIZE.

3SI BLOGWHERE VENTIV SUBJECT MATTER EXPERTS SHARE THEIR EXPERIENCE

3sixty_client_and_prospect_publication

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