Ventiv Technology, Inc., a leading provider of technology business solutions to the risk, insurance and safety management community, today introduced its proprietary Risk Technology Evolution Model, an online diagnostic tool designed to help risk managers optimize their use of technology.
The model, unique to Ventiv, was developed based on the company’s more than 40 years of experience serving risk managers. It provides organizations with a practical understanding of their risk technology maturity through an assessment of their current management and technology practices, business priorities and future objectives. Importantly, the model generates an index called the R-IQ (Risk Information Quotient) and an analysis of an organization’s risk technology evolution level.
The R-IQ is presented as a score from 1 to 5 (full index at right). According to Angus Rhodes, one of the model’s developers, “the R-IQ can only be determined by assessing an organization’s full risk management position, including people and processes as well as systems and analytics.”
The term R-IQ is meant to emphasize the importance to risk managers of applying management and technology best practices to make more intelligent risk and insurance decisions, using technology to transform data into insights.
Working with Ventiv’s team of experts, the Risk Technology Evolution Model will help risk managers understand their current technology position and serve as the basis for a long-term strategic technology improvement plan. Kathy Burns, CEO of Ventiv Technology, said: “The Risk Technology Evolution Model exemplifies Ventiv Technology’s approach of putting our clients first. We are committed to helping our clients understand how they can best put technology to work for their organization, recognizing that every situation is unique.”
Ventiv invites attendees at the RIMS 2015 Annual Conference & Exhibition in New Orleans (April 26–29) to visit Ventiv Technology’s booth (#701) and complete the survey portion of the Model. Risk managers can register to take the Model at http://www.ventivtech.com/RIMS2015.