Business Wire | January 12, 2024
Riskonnect, the leader in integrated risk management (IRM) solutions, today announces its acquisition of Ventiv Technology, a market-leading provider of risk, insurance, and underwriting technology solutions. The acquisition fuels growth and innovation for Riskonnect and drives value for customers by enabling the organizations to bring all aspects of risk under one roof.
Riskonnect’s acquisition of Ventiv will enhance value for the 2,500+ combined customers globally. Ventiv is known for its innovation in RMIS Analytics (Artificial Intelligence/Machine Learning, Benchmarks, Geospatial), claims administration, billing, and policy solutions. Customers rely on Riskonnect for the breadth and depth of its integrated risk management platform. The combined offerings will create a comprehensive suite of risk management tools that streamlines data management, provides actionable insights tailored to specific business sectors, and turns risk into a strategic advantage.
“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,” said Jim Wetekamp, Riskonnect’s CEO. “We’re bringing a value enhancing suite of tools to market that equips organizations to confidently answer the increasingly imperative question – ‘how at risk are we?’. Our complementary technologies and shared commitment to helping customers stay ahead of the rapidly evolving risk landscape positions all our key stakeholders for success.”
The companies’ combined expertise and technology across incident tracking, claims administration, claims management, governance, risk, and compliance (GRC), business continuity and resilience, and predictive analytics creates a one-stop-shop for organizations seeking end-to-end risk solutions.
“We share Riskonnect’s mission to transform the way companies manage risk,” said Salil Donde, Ventiv’s CEO. “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 (TA), a leading global private equity firm, supported the acquisition of Ventiv with additional investment capital. TA will continue as the majority owner. Union Square Advisors LLC served as the exclusive financial advisor to Ventiv and Davis Polk & Wardwell served as legal advisor. Kirkland & Ellis LLP served as legal advisor to Riskonnect.
“By joining forces, Riskonnect and Ventiv Technology, both recognized as industry leaders in the Redhand RMIS Report, 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,” said Patrick O’Neill, president and founder of Redhand Advisors.
Riskonnect is the leading integrated risk management software solution provider. Our technology empowers organizations with the ability to anticipate, manage, and respond in real-time to strategic and operational risks across the extended enterprise. More than 2,500 customers across six continents use our unique risk-correlation technology to gain previously unattainable insights that deliver better business outcomes. Riskonnect has more than 1,100 risk management experts in the Americas, Europe, and Asia.
About Ventiv Technology
Ventiv Technology is a leading global provider of risk management information systems (RMIS), enterprise risk management (ERM), insurance claims, billing, and policy administration technology integrated with its market-leading analytics and predictive models. Ventiv Technology’s SaaS and on-premise solutions are deployed by insurers, brokers, insured corporate entities, federal and regional governments, public entities, third-party claims administrators (TPAs), and risk pools across a variety of industries, including transportation and logistics, retail, financial services, leisure and hospitality, energy, aviation, and manufacturing among several others.
Roadzen Inc | December 01, 2023
HCLTech, a global technology company, and Roadzen, a leading AI-driven auto insurance technology company, announced a collaboration to harness the power of AI and data engineering to deliver benefits to both auto insurance carriers as well as their customers.
This partnership will help auto owners preserve the value of their assets, improve safety and reduce insurance premiums. At the same time, it will help carriers with better insights into driver behaviors and improve loss ratios.
said Srinivasan Seshadri, Chief Growth Officer and Global Head, Financial Services, HCLTech.
Partnering with Roadzen aligns with our commitment to constantly evolve and offer unparalleled services to our insurance customers. We see AI as a transformative power in the insurance sector and believe the combination of HCLTech’s trusted delivery capabilities with Roadzen’s AI leadership creates a solution that all our clients will be excited to engage with, to redefine insurance experiences.
The HCLTech-Roadzen partnership underscores the significance of telematics, computer vision and AI in the auto insurance industry. The collaboration draws on and significantly enhances HCLTech’s domain expertise in auto insurance and related service offerings, positioning HCLTech as a forward-looking provider of next-gen insurance technology to clients.
"We are thrilled to collaborate with an industry leader like HCLTech. This synergy perfectly embodies Roadzen's mission to revolutionize insurance through AI and tech-forward solutions," said Rohan Malhotra, Chief Executive Officer and Founder of Roadzen.
HCLTech was positioned as Leader in the Everest’s Insurance Business Model Innovation Enablement Services – PEAK Matrix Assessment 2021. It was also recently named a Leader and Star Performer in Everest Group’s Application and Digital Services (ADS) in Property & Casualty (P&C) Insurance PEAK Matrix® Assessment 2023.
HCLTech is a global technology company, home to more than 221,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending September 2023 totaled $12.9 billion.
Roadzen is a leading insurance technology company on a mission to transform global auto insurance powered by AI. Thousands of clients - from some of the world’s leading insurers, fleets and carmakers to small fleets, brokers and insurance agents - use Roadzen’s technology to build new products, sell insurance, process claims and improve road safety. Roadzen’s pioneering work in telematics and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune and Financial Express.
PR Newswire | January 10, 2024
Keeper Security, the leading provider of zero-trust and zero-knowledge cybersecurity software protecting passwords, passkeys, privileged access, secrets and remote connections, announces Granular Sharing Enforcements will soon be available for all products in the Keeper® platform. Granular Sharing enables administrators to enforce detailed creating and sharing permissions at the user level. By implementing these permissions, organizations can ensure employees only have access to the resources necessary for their roles, minimizing the risk of unauthorized access, data breaches and lateral movement within a network.
"It's critical for organizations to have security solutions that help them adhere to increasing regulations and compliance requirements," said Craig Lurey, CTO and Co-founder of Keeper Security. "Granular permission control helps organizations enhance their security posture by restricting access to sensitive information and systems. With Granular Sharing Enforcements, it's easier than ever for IT administrators to better control the principle of least privilege and streamline operations within their organizations."
Keeper's added Granular Sharing Enforcement policies provide more detailed restrictions that administrators can apply to users for both creating and sharing records. Most employees do not need access to all of the data or functionalities within an organization, and many industries and geographical regions have specific regulations and compliance requirements regarding data protection and privacy, including HIPAA, GDPR, PCI DSS and SOX. Granular permission controls enable organizations to align with local and industry regulations by allowing them to define and enforce access policies. This helps in ensuring the organization is compliant with industry standards and legal requirements.
Key features of Keeper's Granular Sharing Enforcements include:
Auditing: Keeper provides clear alerting and reporting on over 100 different event types.
Version control: Only a small subset of users have permissions to update or share records, helping teams ensure information is consistent and accurate.
Seamless access on any device: Keeper provides the same user experience across platforms, ensuring cross functionality and ease of use, whether on web, desktop or mobile.
Encryption: Keeper provides secure sharing with elliptic curve encryption, ensuring cybercriminals cannot intercept passwords or other shared records in transit.
Keeper Administrators can easily customize permissions to best suit the compliance needs of their organization. Administrators modify permissions in the Enforcement Policies section of the Admin Console for the chosen role by selecting Creating and Sharing. Most permissions are activated by default for maximum security. Enforcements have been designed to be simple and powerful, allowing admins to choose the appropriate settings for their unique needs.
Granular Sharing Enforcements will be available for all sharing needs within Keeper's Enterprise Password Manager, Keeper Secrets Manager and KeeperPAM. With Keeper's zero-knowledge password management and security platform, IT administrators have complete visibility into employee password practices, enabling them to monitor password use and enforce password security policies, including strong, unique passwords, Multi-Factor Authentication (MFA), Role-Based Access Control (RBAC), and other security policies. Keeper Secrets Manager is a fully managed cloud-based, zero-knowledge platform for securing infrastructure secrets such as API keys, database passwords, access keys, certificates and any type of confidential data.
Its latest offering, KeeperPAM, provides next-generation Privileged Access Management (PAM) that is disrupting the traditional PAM market. KeeperPAM delivers enterprise-grade password, secrets and privileged connection management within a unified SaaS platform that is cost-effective, easy to use and simple to deploy. KeeperPAM enables least-privilege access with zero-trust and zero-knowledge security. Enterprises select Keeper because of its strong security architecture, ability to support federated and passwordless authentication with any identity provider, seamless integration into on-premises, cloud or hybrid environments and ease of use across desktop and mobile devices.
About Keeper Security
Keeper Security is transforming cybersecurity for people and organizations around the world. Keeper's affordable and easy-to-use solutions are built on a foundation of zero-trust and zero-knowledge security to protect every user on every device. Our next-generation privileged access management solution deploys in minutes and seamlessly integrates with any tech stack to prevent breaches, reduce help desk costs and ensure compliance. Trusted by millions of individuals and thousands of organizations, Keeper is the leader for best-in-class password and passkey management, secrets management, privileged access, secure remote access and encrypted messaging.