Domo Case Studies NLC Mutual Delivers Insurance Powered by Insight Thanks to Domo

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	NLC Mutual Delivers Insurance Powered by Insight Thanks to Domo Domo

NLC Mutual Delivers Insurance Powered by Insight Thanks to Domo

Domo

Technology Category	Analytics & Modeling - Real Time Analytics Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Fraud Detection Predictive Maintenance Supply Chain Visibility
Services	Data Science Services System Integration
Challenge	NLC Mutual, a member-owned insurance provider serving the reinsurance needs of 28 states, was facing challenges due to the lack of a central business intelligence system. This hindered its ability to leverage data when processing claims and underwriting coverage. Each state has its own systems for claims and underwriting management, making it difficult to collect data in a timely manner. The company was also struggling with collaboration issues with its members due to the lack of a unified data platform. The municipal reinsurance industry is highly competitive, with larger cities often looking for private options to see if they can find better rates compared to the coverage provided by their state. NLC Mutual needed a solution that could help them prove their value to customers and engage in proactive conversations. Read More
About Customer	NLC Mutual is a member-owned insurance provider that serves the reinsurance needs of 28 states. The company helps each state provide their respective cities with the insurance they require to protect employees, the citizens, and local infrastructure. NLC Mutual is responsible for a wide range of scenarios, such as when a city employee gets hurt on the job, a municipal garbage truck gets in a fender bender, or a wildfire destroys public property. The company's role is to give each state and their municipalities the data they need to identify trends and manage risk so that they can reduce their premiums and provide citizens with better service. The company has 17 employees and generates a revenue of $62M. Read More
Solution	NLC Mutual implemented Domo, a business intelligence tool, to automatically gather and process data so it can take action faster. Domo helped NLC Mutual extract data and run reports, improving the efficiency of their operations. NLC Mutual also purchased Domo for each state it works with so that their counterparts within each state government can gain visibility into coverage and claims, enabling effective collaboration. Using Domo Everywhere, NLC Mutual can easily access and share data with states without having to deal with emailing spreadsheets back and forth. To help each member make the most out of Domo, NLC Mutual used Domo’s Form Builder to help each state’s loss control staff improve their understanding of which claims each municipality files the most so that they can explore strategies for limiting their risk. NLC Mutual also created a member dashboard in Domo that allows states to filter claims and premiums for specific cities, helping them engage in proactive conversations with their customers. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Application Infrastructure & Middleware - Data Exchange & Integration

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Fraud Detection

Predictive Maintenance

Supply Chain Visibility

Services

Data Science Services

System Integration

Challenge

NLC Mutual, a member-owned insurance provider serving the reinsurance needs of 28 states, was facing challenges due to the lack of a central business intelligence system. This hindered its ability to leverage data when processing claims and underwriting coverage. Each state has its own systems for claims and underwriting management, making it difficult to collect data in a timely manner. The company was also struggling with collaboration issues with its members due to the lack of a unified data platform. The municipal reinsurance industry is highly competitive, with larger cities often looking for private options to see if they can find better rates compared to the coverage provided by their state. NLC Mutual needed a solution that could help them prove their value to customers and engage in proactive conversations.

About Customer

NLC Mutual is a member-owned insurance provider that serves the reinsurance needs of 28 states. The company helps each state provide their respective cities with the insurance they require to protect employees, the citizens, and local infrastructure. NLC Mutual is responsible for a wide range of scenarios, such as when a city employee gets hurt on the job, a municipal garbage truck gets in a fender bender, or a wildfire destroys public property. The company's role is to give each state and their municipalities the data they need to identify trends and manage risk so that they can reduce their premiums and provide citizens with better service. The company has 17 employees and generates a revenue of $62M.

Solution

NLC Mutual implemented Domo, a business intelligence tool, to automatically gather and process data so it can take action faster. Domo helped NLC Mutual extract data and run reports, improving the efficiency of their operations. NLC Mutual also purchased Domo for each state it works with so that their counterparts within each state government can gain visibility into coverage and claims, enabling effective collaboration. Using Domo Everywhere, NLC Mutual can easily access and share data with states without having to deal with emailing spreadsheets back and forth. To help each member make the most out of Domo, NLC Mutual used Domo’s Form Builder to help each state’s loss control staff improve their understanding of which claims each municipality files the most so that they can explore strategies for limiting their risk. NLC Mutual also created a member dashboard in Domo that allows states to filter claims and premiums for specific cities, helping them engage in proactive conversations with their customers.

Impact #1	NLC Mutual was able to automate many of the spreadsheet-driven processes, reducing the workload of their accounting department.
Impact #2	The company was able to maintain the same workload without having to find a replacement for a retired accountant.
Impact #3	NLC Mutual can now easily conduct analysis that incorporates property exposure data that indicates wildfire and weather risk, which is invaluable when states face catastrophic events like the annual hurricane season or wildfires.

Impact #1

NLC Mutual was able to automate many of the spreadsheet-driven processes, reducing the workload of their accounting department.

Impact #2

The company was able to maintain the same workload without having to find a replacement for a retired accountant.

Impact #3

NLC Mutual can now easily conduct analysis that incorporates property exposure data that indicates wildfire and weather risk, which is invaluable when states face catastrophic events like the annual hurricane season or wildfires.

Benefit #1	Reduced the time required for certain processes from 20 hours or more a month down to zero.

Benefit #1

Reduced the time required for certain processes from 20 hours or more a month down to zero.

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Overview

NLC Mutual Delivers Insurance Powered by Insight Thanks to Domo

Operational Impact

Quantitative Benefit