Mid-market private equity firm Tailwind Capital has acquired Ventiv Technology, a global software provider of integrated risk management solutions.
Tailwind will support the growth of Ventiv through the acceleration of its sales and marketing efforts, boosting development of new product capabilities, and expanding into new geographies. It will also aid with mergers and acquisitions.
US-headquartered Ventiv offers software to help enterprises manage incidents and claims, and evaluate, mitigate, and monitor risks with analytics, data-discovery, and reporting capabilities. Other solutions allow clients to administer claims and insurance policies.
Its technology can automate manual processes, enhance analytics, reduce claim costs, streamline end-to-end underwriting, and boost data discovery.
Tailwind partner Jim Hoch said, “We are impressed by Ventiv’s strong management team and robust product suite, which positions the Company favourably in the attractive IRM market.
“Ventiv has differentiated itself through its innovative software and a collaborative customer approach, resulting in an industry reputation for excellence and high client satisfaction. We are very excited to support Ventiv in its continued growth.”
Earlier in the year, the company released a new legal management solution which gives legal departments total visibility into legal matters, while claims administrators can leverage the solution to link all legal matters to corresponding claims.
Additionally, to ensure data privacy compliance is maintained, the platform works on access-level permissions which the customer establishes.
Copyright © 2019 FinTech Global
