Riskonnect acquires Ventiv Technology to enhance IRM and global reach

Riskonnect, a leader in IRM solutions, and Ventiv Technology, renowned for risk, insurance, and underwriting technology, are now one entity.

The acquisition’s primary objective is to enhance customer value through the merger of Riskonnect’s comprehensive IRM platform with Ventiv’s innovative RMIS Analytics, claims administration, and policy solutions. The deal is seen as a strategic step to consolidate the strengths of both companies, serving over 2,500 customers globally.

Riskonnect is known for its broad and deep integrated risk management platform, offering a diverse range of tools and insights tailored to specific business needs. Ventiv Technology stands out for its advancements in RMIS Analytics, using AI and ML for benchmarks and geospatial analysis, in addition to their claims and policy solutions. The collaboration of these entities promises to create an all-encompassing suite of risk management tools.

This acquisition isn’t just about combining product offerings; it’s a strategic alignment of visions. “We’re thrilled to welcome the entire Ventiv team to Riskonnect,” expressed Jim Wetekamp, CEO of Riskonnect. He emphasized the substantial value addition for customers, combining product ranges and meeting modern risk management needs. Salil Donde, CEO of Ventiv, echoed this sentiment, highlighting the shared mission to transform risk management.

Significant in this venture is the support of TA Associates (TA), Riskonnect’s current majority investor. TA has facilitated this acquisition with additional investment capital, maintaining its majority ownership. The legal and financial aspects were managed by Union Square Advisors LLC, Davis Polk & Wardwell, and Kirkland & Ellis LLP.

Patrick O’Neill, president and founder of Redhand Advisors, noted the strategic importance of this merger. He recognized both companies as industry leaders, as reported in the Redhand RMIS Report, and praised their consolidated technological expertise and commitment to RMIS solutions.

“Riskonnect’s acquisition of Ventiv will enhance value for our 2,500+ combined customers globally,” said Jim Wetekamp, Riskonnect’s CEO. “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,” he added.

Salil Donde, Ventiv’s CEO, shared, “We share Riskonnect’s mission to transform the way companies manage risk. 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.”