NLC Mutual Delivers Insurance Powered by Insight Thanks to Domo
Company Size
11-200
Region
- America
Country
- United States
Product
- Domo
- Domo Everywhere
- Domo’s Form Builder
- Domo Workbench
- Magic ETL
Tech Stack
- Business Intelligence
- Data Extraction
- Data Reporting
- Data Visualization
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
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
About The 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.
The 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.
The 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.
Operational Impact
Quantitative Benefit
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