|
Compliance With Regulatory Insurance Risk Analysis
"I really enjoy using Tactician and I am continually learning new ways it can be
used to help my company!"
-- Wright Express Financial Services Company
Challenge / Goal
Legislation was recently passed requiring a major property and
casualty insurer to identify all of its existing homeowner policies, as well as future
homeowner policy applications, where the insured property was within a series of
predetermined distances from the coastline. Insured properties located within the
legislated distances were subject to a range of mandatory coverage extensions.
Tactician In Action
A simple, easy-to-use, Tactician Online-based custom
application was created and deployed which lets administrative personnel in the field
enter an address and instantly calculate an accurate distance to the closest coastline.
The online system offers users the option to display a map and visually validate the
distance calculation.
Results
- Premium revenue increased dramatically as a result of conforming to the new
homeowner coastline distance rules.
- Compliance with the new insurance regulations was achieved well ahead of schedule.
- The burden / effort required to ensure and validate compliance was minimized.
- Ongoing compliance has been automated at the local level at the time of new
homeowner policy assessment.
I Want To Learn More...
Call us on 1-800-927-7666 x115 or enter in your contact details below and a
Tactician expert will be in touch with you shortly.
|