Softwr

Insurance · head to head

Openly vs Riskonnect

Openly logo

Openly

Insurance

Customizable homeowners insurance sold only through independent agents

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: Openly available in only 24 states as of August 2026, with Nevada still listed as coming soon; 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.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Openly and Riskonnect actually diverge.

Attributes where Openly and Riskonnect differ
AttributeOpenlyRiskonnect
PlatformsWebWeb, iOS, Android

Identical on both: starting price (On request), pricing model (quote), 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 Openly

Nothing recorded that Riskonnect does not also cover.

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.

Openly

  • Getting home insurance quotes with guaranteed replacement cost coveragenot Riskonnect
  • Customizing homeowners insurance policies with specific coverage limitsnot Riskonnect
  • Filing and managing property damage claims through digital workflowsnot Riskonnect
  • Accessing insurance coverage across multiple US states through independent agentsnot 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 Openly
  • A risk manager building a defensible total cost of risk figure for the CFO across claims, premium, retained losses and collateralnot Openly
  • A third party administrator running claims for multiple clients that needs separate entity structures on one platformnot Openly
  • A multinational consolidating claims, safety incidents and enterprise risk registers onto one entity hierarchy for board reportingnot Openly

Where each one falls short

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

Openly

  • Available in only 24 states as of August 2026, with Nevada still listed as coming soon
  • Policies are not sold directly to consumers; coverage must be obtained through an independent agent, as of August 2026

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

Openly

On request

No published plan breakdown. See the Openly review.

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 Openly if

Nothing in the data separates Openly from Riskonnect on the points above - pick on price and on how each one feels to use.

Openly 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 Openly or Riskonnect better?
Neither clearly leads. Openly 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, Openly or Riskonnect?
Openly starts at On request and Riskonnect at On request.
Does Openly or Riskonnect run on more platforms?
Openly runs on Web. Riskonnect runs on Web, iOS, Android.
What is Openly best used for?
Openly is most often used for getting home insurance quotes with guaranteed replacement cost coverage, customizing homeowners insurance policies with specific coverage limits, filing and managing property damage claims through digital workflows, accessing insurance coverage across multiple us states through independent agents. Of those, getting home insurance quotes with guaranteed replacement cost coverage and customizing homeowners insurance policies with specific coverage limits are not what Riskonnect is typically brought in for.
What can Openly do that Riskonnect cannot?
Riskonnect covers Claims administration, Total cost of risk reporting, Policy and exposure management, Enterprise risk management.

Answered from the vendors’ own pages

Openly: How much does Openly cost?

Openly does not publish pricing on its website. The company operates through independent agency partners who provide customized quotes. To obtain coverage pricing, customers must contact a local independent agent or request a quote through mylifeprotected.com/openly.

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.

Openly: What is Openly's pricing model?

Openly uses a partnership model rather than direct sales. Insurance policies are sold through independent agency partners, with pricing determined on a case-by-case basis through customized quotes.

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.

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.

Share

Related pages

More on Openly

More on Riskonnect

Keep looking

Other head to heads