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Insurance · head to head

ClaimVantage vs Riskonnect

ClaimVantage logo

ClaimVantage

Insurance

Claims management and processing platform

From
On request
Rated
-
Full reviewWebsite
Riskonnect logo

Riskonnect

Insurance

Integrated risk management and claims administration for corporate risk teams

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: ClaimVantage requires Salesforce platform knowledge and integration expertise, adding implementation complexity for non-Salesforce organizations; Riskonnect total first year cost is dominated by implementation rather than licence; vendor professional services frequently approach the annual licence figure and the internal staff time to define data structures and migrate historic claims is a comparable third cost that never appears in the quote.
  • They diverge on capability: ClaimVantage covers Claim intake and registration, Riskonnect covers Claims administration.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which ClaimVantage and Riskonnect actually diverge.

Attributes where ClaimVantage and Riskonnect differ
AttributeClaimVantageRiskonnect
Pricing modelsubscriptionquote
PlatformsWeb, CloudWeb, iOS, Android
Founded2012Unknown

Identical on both: starting price (On request), free tier (No), user rating (Not yet rated), category (Insurance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in ClaimVantage

  • Claim intake and registration
  • Workflow automation
  • Document management
  • Task management
  • Real-time tracking
  • Reporting and analytics
  • Adjuster tools
  • Claimant portal

Only in Riskonnect

  • Claims administration
  • Total cost of risk reporting
  • Policy and exposure management
  • Enterprise risk management
  • Health and safety
  • Business continuity
  • Third party risk
  • Data integration

What people use each for

The jobs each tool is most often brought in to do.

ClaimVantage

  • Claims processingnot Riskonnect
  • Workflow automationnot Riskonnect
  • Adjuster managementnot Riskonnect
  • Claims analyticsnot Riskonnect

Riskonnect

  • A self insured employer that wants to own its workers compensation loss data rather than depend on the broker or TPA system it will lose at renewalnot ClaimVantage
  • A risk manager building a defensible total cost of risk figure for the CFO across claims, premium, retained losses and collateralnot ClaimVantage
  • A third party administrator running claims for multiple clients that needs separate entity structures on one platformnot ClaimVantage
  • A multinational consolidating claims, safety incidents and enterprise risk registers onto one entity hierarchy for board reportingnot ClaimVantage

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

ClaimVantage

  • Requires Salesforce platform knowledge and integration expertise, adding implementation complexity for non-Salesforce organizations
  • Primarily designed for life, health, and absence claims; may lack industry-specific features for other insurance types

Riskonnect

  • Total first year cost is dominated by implementation rather than licence; vendor professional services frequently approach the annual licence figure and the internal staff time to define data structures and migrate historic claims is a comparable third cost that never appears in the quote.
  • The platform grew through acquisitions including Ventiv and Sword GRC, so module interfaces and administration models are not uniform and staff trained on one module do not transfer cleanly to another.
  • Licensing is modular, so the price quoted for a claims deployment rises materially the first time the risk team wants ERM or business continuity, and there is little negotiating leverage once the claims data is migrated.
  • Configuration depth means most changes go through an administrator or the vendor rather than an end user, and risk teams without a dedicated system administrator find that change requests queue for weeks.
  • Historic claims data migration quality depends entirely on what the outgoing broker or TPA will export, and incomplete legacy data undermines the multi year trend reporting that was the reason for buying.

Pricing, plan by plan

ClaimVantage

On request
  • Standard$undefined/month
    • Claim intake
    • Workflow management
    • Document management
  • Enterprise$undefined/month
    • All Standard features
    • Advanced analytics
    • Custom workflows

Riskonnect

On request
  • Riskonnect Platform$undefined/year
    • Licensed by module, named user count and entity structure
    • Claims administration and RMIS core
    • Optional ERM, safety, continuity and third party risk modules

Which should you pick?

Choose ClaimVantage if

  • You need claim intake and registration.
  • You work on Web, Cloud.
  • You also want workflow automation.
ClaimVantage review

Choose Riskonnect if

  • You need claims administration.
  • You work on Web, iOS, Android.
  • You also want total cost of risk reporting.
Riskonnect review

Questions people ask

Is ClaimVantage or Riskonnect better?
Neither clearly leads. ClaimVantage starts at On request and Riskonnect at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, ClaimVantage or Riskonnect?
ClaimVantage starts at On request and Riskonnect at On request.
Does ClaimVantage or Riskonnect run on more platforms?
ClaimVantage runs on Web, Cloud. Riskonnect runs on Web, iOS, Android.
What is ClaimVantage best used for?
ClaimVantage is most often used for claims processing, workflow automation, adjuster management, claims analytics. Of those, claims processing and workflow automation are not what Riskonnect is typically brought in for.
What can ClaimVantage do that Riskonnect cannot?
ClaimVantage covers Claim intake and registration, Workflow automation, Document management, Task management. Riskonnect covers Claims administration, Total cost of risk reporting, Policy and exposure management, Enterprise risk management.

Answered from the vendors’ own pages

ClaimVantage: What is ClaimVantage and who owns it?

ClaimVantage is an insurance claims management software built on Salesforce Lightning. It was acquired by Majesco, a cloud insurance platform provider, to strengthen their claims processing capabilities.

Source
Riskonnect: What does Riskonnect actually cost?

Nothing is published. Reported deals range from roughly 35,000 US dollars a year for a narrow deployment to well over 250,000 for a multi module enterprise programme, with implementation services quoted separately and often of similar magnitude in year one.

ClaimVantage: What is the core function of ClaimVantage?

ClaimVantage automates the entire claims lifecycle including intake, eligibility verification, adjudication, payment processing, and customer communications using cloud-based workflows and AI-generated decision summaries.

Source
Riskonnect: How long does implementation take?

Three to six months is typical for a claims and RMIS deployment, longer where historic loss data from several brokers or TPAs has to be normalised.

ClaimVantage: Does ClaimVantage use AI for claims decisions?

Yes, ClaimVantage uses Salesforce Agentforce and AI-powered summaries to accelerate claim decisions, analyze claims data trends, and provide actionable insights for better processing.

Source
Riskonnect: Why not just use the broker supplied RMIS?

Because you lose it when you change broker, and the data model serves the broker reporting rather than yours. Owning the system is the main reason companies pay for one.

Riskonnect: Is it a GRC platform or a claims system?

Both, but the claims and insurable risk core is the mature part. If you want pure GRC without claims, you are buying more platform than you need.

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