Managing 1,300 different insurance policies with companies around the world primarily through spreadsheets and documents was untenable. This company wanted a way to access key information in real time and drive savings through identifying coverage overlaps and accelerating the claims process.
This telecommunications company relied on a veteran risk management team to determine coverage and policy decisions. However, with incomplete or inaccurate information taking days or even week to pull together, the company worried they might not always find the most optimal answer. They turned to Origami Risk to help them get a better handle on their policy data.
Origami Risk consolidated 1,300 records with 36,000 unique data points into a searchable format. Next they traced hundreds of insurers back to 78 parent companies. This not only provided the risk management team with single click access to accurate coverage and loss data, but also aggregated the risk held by parent carriers. Using these tools, the team now drives down costs through spotting inefficient coverage and ensures risk is spread appropriately across all carriers.
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