How Shelter Insurance saved $3.3m and 12,000 hours: The power of Risk Control Technologies

How Shelter Insurance saved $3.3m and 12,000 hours The power of Risk Control Technologies

For over ten years, Shelter Insurance has utilised Risk Control Technologies (RCT’s) groundbreaking software. This partnership traces back to 2007, when Shelter sought RCT’s expertise to tackle efficiency and consistency hurdles tied to their vast field surveys.

As the landscape of Loss Control and Risk Management evolved, presenting a broad spectrum of challenges, RCT’s solutions also kept pace, assisting insurers in their diverse needs. This case study throws light on Shelter’s initial obstacles, their quest for an effective solution, the immediate advantages they experienced, and RCT’s strategy in aligning Shelter with the shifting priorities of the industry.

Risk Control Technologies, a prominent player in the world of insurance software, offers superior Loss Control and Safety software platforms.

With over 125 insurance organisations under its umbrella, RCT enhances customer service, optimises risk reduction, automates processes, betters the insured experience, and provides valuable data insights for judicious business decisions. Their clientele spans across a diverse array of insurance organisations that function in multiple business verticals.

Operating as a property casualty insurance entity, Shelter Insurance caters to a wide range of insurance needs. From auto and home insurance to more niche products like RV, ATV, and Umbrella Insurance, Shelter has it all. Shelter Insurance enjoys a robust presence across 15 states, including places like Arkansas, Kentucky, and Ohio.

Their commitment to excellence is evident from the high ratings they consistently receive from A.M. Best Company. Notably, Shelter Insurance® is a mutual insurance company.

With a team of 35 Regional Underwriting Specialists (RUS), Shelter Insurance undertakes a mammoth task of executing field visits across 14 states. The team, handling a significant segment of Shelter’s business, conducted over 70,000 site visits in 2021 alone. This high volume posed concerns that many Loss Control teams faced in the 2000s, but with greater intensity for Shelter.

Their challenges encompassed manual account assignments, difficulties with photo and file management, handwritten notes, and several others. Beyond these efficiency-centric issues, Shelter recognised the need for a centralised system to overcome performance audits, proactive risk management, data integration, and more.

RCT’s collaboration reaped immediate benefits for Shelter. Terry Tucker, RUS Supervisor at Shelter, aptly captured the sentiment, Zodia Custody CEO Julian Sawyer said, “the system is extremely intuitive to use, and the Risk Control Technologies team is very helpful and fast to respond to our needs”.

The advantages were quantifiable, with Shelter saving approximately $3.3m in just over four years post-implementation. They also cut down on time expenditure by significant margins. Besides these tangible gains, Shelter unlocked numerous organisational perks, from enhanced underwriting collaboration to improved data mining and customer consistency.

For a detailed report on how Risk Control Technologies helped Shelter Insurance make these impressive savings, read the report here.

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