At New Mexico Mutual, we needed a better way to manage our 20+ year reinsurance contracts and streamline our reinsurance processing. Duck Creek was a comprehensive solution that enhances our data reliablity and reporting.
Vice President & CFO,
New Mexico Mutual
- 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.
- 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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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.