Identifying $300,000 of Leakage within a Year: Streamlining Reinsurance Operations at New Mexico Mutual

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The Challenges

• Reliance on Manual Contracts
  With over 20 years of manual contracts and dozens of spreadsheets, there was significant opportunity for human error.
• Increasing Complexity
  Reinsurance contracts were becoming more complex, making it more difficult to identify claims eligible for reinsurance recoveries.
• Limited Staff
  The staff capacity was insufficient to monitor multiple writing companies, transactions, and claims while also creating bills and regulatory reports.

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The Solutions

• Implemented Duck Creek Reinsurance Management to streamline operations. 
• Automated calculation and reporting processes to ensure reliability and promptness. 
• Ensured process standardization for better transparency and auditing.  

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The Impacts

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News And Press Releases

• New Mexico Mutual Selects Agencyport Software®  

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About The Customer

New Mexico Mutual, a non-profit created for New Mexico employers, serves businesses of all types and sizes throughout the state. As the largest provider of workers’ compensation insurance in New Mexico, they hold over 33% of the market share. Their commitment to superior claims management and risk and safety management services benefits both injured workers and policyholders. The company boasts a workforce of more than 100, all based in New Mexico. Explore More.