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39 Insurers Recognized as "Model Carriers": Congratulations to Unitrin Kemper Auto & Home

(Posted by Model Blogger, Ian Turvill.)

39 insurance companies were recently recognized by Boston-based analyst firm Celent LLC as "Model Carriers” for “doing everything right” in terms of their technology initiatives.  Among them was Unitrin Kemper Auto & Home, a long time user of the Enterprise Decision Management approach, which has been mentioned previously in this blog. Congratulations to Unitrin Kemper and to the other 38 companies mentioned in this report!

When Unitrin Kemper planned a new automated underwriting system it had a long wish list of desired results. “Efficiency was high on the list,” says Patrick Madigan, Assistant Vice President in charge of Unitrin Kemper’s national underwriting. “We also wanted to remove paper, update processes and apply underwriting guidelines consistently in real-time.”

Unitrin Kemper combined decision automation technology with analytic models for its new auto and home insurance business.  During the first year in use, Unitrin Kemper was able to lower its combined ratio by eight points. Along with other technological improvement initiatives, the Blaze Advisor system is credited with helping Unitrin Kemper become a more efficient underwriting organization, as the unit also met its goals for reducing underwriting losses.

If you're interested in the full-blown description of the Unitrin Kemper case study, you'll find it attached here.  (Shameless commerce caveat: This is a Fair Isaac case study.)

As I reviewed the list of "model carriers", I noted that a fair proportion of them were recognized for technology initiatives that appear to have a substantial EDM flavor to them, that is, they include some reliance on rules, predictive analytics, and/or decision automation.  I've highlighted those that fit that description in the complete listing recreated below in bold and red.

I must admit that I don't know this for sure, but if anyone from any of these companies (and/or their supporting vendors) would like to comment, we'd be glad to hear from them.

"EDM-oriented Model Carriers" Highlighted in Bold and Red:
(My conjectured element of EDM in parenthesis.)

  • AAA Missouri: E-Apps and STP (Decision Automation)
  • AIG VALIC: Closed Loop Lead Management
  • Allstate Financial: Grid Computing for Annuity Valuation
  • Allstate Financial: Rules-Based Automated Underwriting (Rules)
  • American Safety: Comprehensive Reinsurance Management
  • Arbella Insurance Group: Common Interface Layer for Agent Portal and Agency Management System Support
  • Aviva Canada: Electronic FNOL
  • Baltimore Life: Teleunderwriting  (Rules and/or Predictive Analytics)
  • Chubb: Data Mastery for Underwriter-Assisted Sales
  • Chubb: Underwriting Process Transparency via BPM
  • Columbia Insurance Group: Externalized Underwriting Rules to Power E-Apps (Rules)
  • Connecticut Healthcare Workers Compensation Trust: Automated Medical Bill Review (Rules and/or Predictive Analytics)
  • FCCI Insurance Group: Digital Claims Files
  • Genworth: Document Management Center of Excellence
  • Great American Financial Resources Inc. (GAFRI): Data Model and Repeatable Integration Methodology
  • GUARD Insurance: Agent Portal with Electronic Applications
  • Harvard Pilgrim Health Care: Group E-Billing
  • Hastings Mutual: Comprehensive Claims Environment
  • Helvetia Insurance Group (Switzerland): Services-Oriented Architecture To Enable E-Business and Reduce Development Expenses
  • Indiana Farm Bureau: Wireless Claims Adjusters
  • Mutual Benefit Group: Online Quoting and Applications Based on Web Services Architecture (Decision Automation)
  • Mutual of Omaha: Remote Printing of Proposal Documents
  • Mutual of Omaha: Rules-Based Underwriting Workflow (Rules)
  • Ohio Casualty: Ultra-Configurable Core Policy System
  • Ohio National. e-Apps
  • Ohio National: Electronic Workflow with Familiar Interface
  • Pekin Insurance: Common Calculation Engine (Decision Services)
  • Penn National: Mobile Loss Control Inspectors Reliance
  • Standard Life: Policy Administration Replacement and Process Improvement
  • Selective: Professionalized Project Management
  • The Hartford: Data Mastery for Distribution Management
  • The Hartford: Rigorous IT Governance with Senior Business Executive Oversight
  • The Principal Financial Group: Print-on-Demand Proposals
  • Tokio Marine & Nichido (Japan): Comprehensive Agent Portal
  • Unitrin Kemper Auto and Home: Controlling First Notice of Loss
  • Unitrin Kemper Auto and Home: Rules-Based Underwriting (Full Blown Enterprise Decision Management: Rules, Predictive Analytics, and Decision Automation)
  • West Bend Mutual: Geo-Coding for Reserve Management
  • West Bend Mutual: Point-of-Sale Automated Underwriting with Agent Feedback  (Decision Automation)
  • Top 10 Life Insurer: Common Calculation Engine (Decision Services)
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