Riskonnectvs
ServiceNow
ServiceNow: If the organisation already runs ServiceNow and wants risk and audit workflow on that platform rather than a claims led one
Riskonnect
Integrated risk management and claims administration for corporate risk teams
As of 31 August 2026, Riskonnect's pricing is not published; the vendor quotes on request. An RMIS used by corporate risk managers and third party administrators to run claims, insurable risk, safety and business continuity on one data model. Softwr lists it under Insurance. Riskonnect is made by Riskonnect, Inc., available on Web, iOS, Android.
Overview
What Riskonnect does
Riskonnect is a risk management information system. Its core is claims and insurable risk: recording incidents, administering workers compensation, general liability, auto and property claims, tracking reserves and payments, holding policy and exposure data, and producing total cost of risk reporting for the finance and risk functions. Around that core it sells modules for enterprise risk management, health and safety, business continuity, internal audit, third party risk and ESG, which the vendor positions as one integrated platform rather than a set of tools. What distinguishes it commercially is the claims administration depth combined with the module breadth. Most risk teams buy an RMIS because their broker will no longer give them their own loss data in a usable form, and Riskonnect is built to be the system of record for that data independent of the broker. That independence is the real purchase. The consequence is cost and complexity: this is licensed by module, by named user and by entity structure, and the platform was assembled partly by acquisition, including Ventiv and Sword GRC, so module lineage and interface consistency vary more than a single stack would. The buyer is a corporate risk manager at a company large enough to have retained risk, or a third party administrator running claims for others. Deployments typically take three to six months and require the vendor or a partner to configure, and the internal cost of that configuration is frequently as large as the vendor services invoice. Small risk functions rarely justify it. The trade off against a broker supplied RMIS is that you pay for something the broker gave you free, in exchange for owning the data when you change broker.
What people use it for
- 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 renewal
- A risk manager building a defensible total cost of risk figure for the CFO across claims, premium, retained losses and collateral
- A third party administrator running claims for multiple clients that needs separate entity structures on one platform
- A multinational consolidating claims, safety incidents and enterprise risk registers onto one entity hierarchy for board reporting
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The honest half
Where it falls short
Concrete and checkable, so you can decide whether any of them matter to you. This is the half of a review a vendor will not write about 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.
Cross-shopped
What people choose instead of Riskonnect
Each pairing was judged by two reviewers asking whether a buyer would genuinely weigh the two against each other. The ones that failed were deleted rather than published.
- RiskonnectvsOneTrust
OneTrust: If the requirement is privacy and regulatory compliance rather than insurable risk and claims
- RiskonnectvsVanta
Vanta: If the requirement is security compliance evidence rather than claims and insurable risk
Pricing
What Riskonnect costs
Taken from the vendor's own pricing page. Prices move, so check before you buy.
Riskonnect Platform
On request
- Licensed by module, named user count and entity structure
- Claims administration and RMIS core
- Optional ERM, safety, continuity and third party risk modules
- Implementation professional services quoted separately
- Typical deployment three to six months
Capabilities
Features
Claims administration
Full claim lifecycle for workers compensation, liability, auto and property, with reserves, payments and diaries
Total cost of risk reporting
Aggregates claims, premium and retained loss into finance ready cost of risk analysis
Policy and exposure management
Holds programme structure, layers, values and schedules of insured locations
Enterprise risk management
Risk registers, assessments and heat maps linked to the same entity hierarchy as claims
Health and safety
Incident capture, investigation and regulatory reporting for workplace injuries
Business continuity
Business impact analysis, plans and exercise tracking
Third party risk
Vendor assessment and monitoring against the corporate risk register
Data integration
Ingests broker, carrier and TPA loss files on a scheduled feed
Answered, with sources
Questions people ask
Each answer names the page it came from, so you can check it rather than take our word for it.
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.
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.
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.
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.
Keep looking
Where to go from Riskonnect
- Riskonnect alternativesEvery product people weigh against it
- Riskonnect pricingPlans, floors and what the tiers exclude
- Riskonnect badgesWhich rules it meets, and the figure behind each
- All Insurance softwareThe full category
- Best Insurance softwareThe shortlist, and how it was cut
Best Insurance software for
Compare Riskonnect with
- Origami Risk
- Duck Creek
- EZLynx
- SailPoint
- Embroker
- FINEOS
- FRISS
- InsuredMine
- Guidewire ClaimCenter
- Duck Creek Policy
- Applied Epic
- Five Sigma
- Haven Life
- Hippo
- INSTANDA
- FRISS
- Guidewire InsuranceNow
- Indio
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Softwr does not host reviews and shows no star rating for Riskonnect, because a rating we did not collect is not ours to publish. What is here is the pricing and platform detail from the vendor’s own pages, limitations we could state concretely, and alternatives a reviewer confirmed people weigh against it. Tell us if any of it is wrong.
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