Aligning Claims and Underwriting

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Key discussion points: How do Claims and Underwriting typically relate? Why align Underwriting and Claim departments at Society? What changes did Society make and how? What impact did the change have on results?

Business

ALIGNING CLAIMS AND
UNDERWRITING – A CASE STUDY
FEBRUARY 27, 2014

SOCIETY INSURANCE
A regional commercial P&C carrier specializing in
restaurants, bars, supermarkets, convenience stores,
medical clinics and artisan contractors.
Located in Fond du Lac, WI and writing in the states of
Wisconsin, Indiana, Illinois and Iowa.
Founded in 1915 to meet the Workers Comp needs of
threshermen Society has since grown to $150 million in
written premiums and $116 million in surplus.

2

|

SOCIETY…A CASE STUDY
Key discussion points:
How do Claims and Underwriting typically relate?
Why align Underwriting and Claim departments at Society?
What changes did Society make and how?
Impact on results
Next steps

3

|

SOCIETY…A CASE STUDY
A brief history of claims and underwriting relationships at
Society.
“Underwriting writes it and claims is the mop up service.”

4

|

SOCIETY…A CASE STUDY
Why align?
Much to learn from each other that can improve organizational results.

What changes were implemented? How?
Four key elements to creating the shift.

5

|

SOCIETY…A CASE STUDY
Four Key Factors to Creating Alignment between Claims
and Underwriting
Relationships
Communication
Ownership
Persistence

6

|

SOCIETY…A CASE STUDY
Relationships
Has to be a priority to department heads.
• Set the example and reinforce the expectations

Top/down and bottom/up

Communication
Formal
Informal

7

|

SOCIETY…A CASE STUDY
Ownership
Structure

Strategies
Accountability

Persistence
Changing habits built up over a career

And the results?...

8

|

PAL Fires and Weather
Fires
Incurred

# fires

Avg fire
loss

Weather
Incurred

# weather

Avg weather

2011

$16,770,097

143

$117,273

$8,109,949

1207

$6,719

2012

$17,082,108

153

$111,648

$3,797,008

729

$5,209

2013

$10,312,082

117

$88,137

$4,303,400

608

$7,078

Fire Numbers Improved-2013
$16,770,097

$17,082,108

Weather leveling off?
$8,109,949

$10,312,082
$3,797,008

2011 Fires 143

2012 Fires 153

2013 Fires 117

2011 Weather 1207

2012 Weather 729

$4,303,400

2013 Weather 608

PAL Slip and Falls
WI 2011
IL 2011
IN 2011
IA 2011
All States 2011

Slip and Falls
$1,316,170
$1,343,413
$428,873
$266,855
$3,355,311

# of Falls
451
363
105
67
986

Avg Fall
$2,918
$3,701
$4,085
$3,983
$3,403

WI 2012
IL 2012
IN 2012
IA 2012
All States 2012

$1,512,601
$2,133,068
$273,798
$148,035
$4,067,502

454
397
105
61
1017

$3,332
$5,373
$2,608
$2,427
$4,000

WI 2013
IL 2013
IN 2013
IA 2013
All States 2013

$1,905,480
$1,864,500
$345,562
$260,134
$4,375,676

456
284
110
46
896

$4,179
$6,565
$3,141
$5,655
$4,884

PAL Liquor Claims
2012 Liquor Claims
# of Claims
Illinois

54

Indiana
Iowa

8
14

TOTAL

76

Note the drop in the number of Liquor
Liability claims, 76 claims in 2012 to
40 claims in 2013. Also, improvement
in all 3 states.
Liquor Claims 2012 and 2013
54

2013 Liquor Claims
# of Claims
Illinois

28

Indiana
Iowa

6
6

TOTAL

2
0
1
2

28

40

2
0
1
3
IL

14
8

6

IN

6

IA

QUESTIONS?
Thank you!

William Bunzel, CPCU
VP – Property Auto Liability Claims

12

|

D. Holly Lifke, CPCU, MBA, AIC, CIC
VP – Commercial Underwriting

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Aligning Claims and Underwriting

1. ALIGNING CLAIMS AND UNDERWRITING – A CASE STUDY FEBRUARY 27, 2014

2. SOCIETY INSURANCE A regional commercial P&C carrier specializing in restaurants, bars, supermarkets, convenience stores, medical clinics and artisan contractors. Located in Fond du Lac, WI and writing in the states of Wisconsin, Indiana, Illinois and Iowa. Founded in 1915 to meet the Workers Comp needs of threshermen Society has since grown to $150 million in written premiums and $116 million in surplus. 2 |

3. SOCIETY…A CASE STUDY Key discussion points: How do Claims and Underwriting typically relate? Why align Underwriting and Claim departments at Society? What changes did Society make and how? Impact on results Next steps 3 |

4. SOCIETY…A CASE STUDY A brief history of claims and underwriting relationships at Society. “Underwriting writes it and claims is the mop up service.” 4 |

5. SOCIETY…A CASE STUDY Why align? Much to learn from each other that can improve organizational results. What changes were implemented? How? Four key elements to creating the shift. 5 |

6. SOCIETY…A CASE STUDY Four Key Factors to Creating Alignment between Claims and Underwriting Relationships Communication Ownership Persistence 6 |

7. SOCIETY…A CASE STUDY Relationships Has to be a priority to department heads. • Set the example and reinforce the expectations Top/down and bottom/up Communication Formal Informal 7 |

8. SOCIETY…A CASE STUDY Ownership Structure Strategies Accountability Persistence Changing habits built up over a career And the results?... 8 |

9. PAL Fires and Weather Fires Incurred # fires Avg fire loss Weather Incurred # weather Avg weather 2011 $16,770,097 143 $117,273 $8,109,949 1207 $6,719 2012 $17,082,108 153 $111,648 $3,797,008 729 $5,209 2013 $10,312,082 117 $88,137 $4,303,400 608 $7,078 Fire Numbers Improved-2013 $16,770,097 $17,082,108 Weather leveling off? $8,109,949 $10,312,082 $3,797,008 2011 Fires 143 2012 Fires 153 2013 Fires 117 2011 Weather 1207 2012 Weather 729 $4,303,400 2013 Weather 608

10. PAL Slip and Falls WI 2011 IL 2011 IN 2011 IA 2011 All States 2011 Slip and Falls $1,316,170 $1,343,413 $428,873 $266,855 $3,355,311 # of Falls 451 363 105 67 986 Avg Fall $2,918 $3,701 $4,085 $3,983 $3,403 WI 2012 IL 2012 IN 2012 IA 2012 All States 2012 $1,512,601 $2,133,068 $273,798 $148,035 $4,067,502 454 397 105 61 1017 $3,332 $5,373 $2,608 $2,427 $4,000 WI 2013 IL 2013 IN 2013 IA 2013 All States 2013 $1,905,480 $1,864,500 $345,562 $260,134 $4,375,676 456 284 110 46 896 $4,179 $6,565 $3,141 $5,655 $4,884

11. PAL Liquor Claims 2012 Liquor Claims # of Claims Illinois 54 Indiana Iowa 8 14 TOTAL 76 Note the drop in the number of Liquor Liability claims, 76 claims in 2012 to 40 claims in 2013. Also, improvement in all 3 states. Liquor Claims 2012 and 2013 54 2013 Liquor Claims # of Claims Illinois 28 Indiana Iowa 6 6 TOTAL 2 0 1 2 28 40 2 0 1 3 IL 14 8 6 IN 6 IA

12. QUESTIONS? Thank you! William Bunzel, CPCU VP – Property Auto Liability Claims 12 | D. Holly Lifke, CPCU, MBA, AIC, CIC VP – Commercial Underwriting

13. 13 | CO VERAG E DIFFERENCE 2014

Aligning Claims and Underwriting

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