Society Insurance Implements Duck Creek Loss Control for an Evolving Industry

CASE STUDY

Society Insurance Implements Duck Creek Loss Control for an Evolving Industry

Objectives

Streamline and automate Loss Control processes, improving workflow efficiency.

Centralize risk data to better collaborate with Underwriting and Actuarial departments.

Improve service levels and reduce the likelihood of loss.

Results

230% ROI on platform investment in the form of improved efficiency and productivity.

Loss Control Consultants saved an average of 45 minutes per service request, equating to 2,250 hours per year for the team.

Management eliminated approximately 280 hours of administrative time spent on reviewing and compiling performance metrics.

Improved collaboration with, and management of third-party vendors.

When we first looked at RCT, the field productivity benefits were only the tip of the iceber

Michael Rosenau

Director of Risk Control, Society Insurance

The Challenges

Manual Processes and Workflows
The manual process of account selection and documentation resulted in duplicate records across Loss Control, Underwriting and Actuarial departments, impacting data integrity. Handwritten field notes, inspection images, and files would require digital re-entry. Increased admin burden due to cumbersome process of issuing recommendation letter creation, and risk improvement follow-ups.
Lower Service Levels
Lack of access to risk data on policyholders resulted in inefficient account selection for servicing. Loss Control teams were spending more time on good risks instead of servicing high-risk accounts, impacting service levels.
Limited Reporting Capabilities
Decentralized data on policyholders made it difficult for management and stakeholders to analyze risk data, identify trends and implement loss control measures.

The Solutions

Re-engineering and automating loss control process through rule-based workflow automations.
Providing loss control task assignment, management, and reporting tools within the platform for underwriters.
Integrating Duck Creek Loss Control with core systems to elevate cross-departmental collaboration and automation.

The Impacts

Better Reporting

Duck Creek Loss Control provided full visibility on policyholder risks, status of loss control tasks assigned, and recommendation issued to better report and demonstrate the value of Loss Control.

Better Customer Insights and Improved Service Levels

Implementing loss control surveys to gauge insured’s satisfaction helped improve customer response rates from 10% to 33%, and overall service levels.

Improved Customer Experience

Implementing customized service plans for policyholders based on their level of risk improved customer satisfaction.

About the Customer

Headquartered in Fond du Lac, Wis., Society Insurance has been a leading niche insurance carrier since 1915. Society specializes in business insurance for small-to-midsize niche businesses, including restaurants, bars, grocery stores, medical clinics, auto shops, food manufacturers, artisan contractors and more. Society focuses on the small details that make a big difference to its policyholders while offering top-notch insurance coverage, service and competitive pricing to businesses in Wisconsin, Illinois, Indiana, Iowa, Minnesota, Tennessee, Colorado, Georgia, and Texas.

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