Alamance Farmer's Mutual: Risk Assessment Solution
Alamance Farmer’s Mutual Insurance Company partnered with HazardHub to develop and implement a risk assessment solution in 60 days. The solution automated risk assessment processes and reporting, minimized duplicate risk data entry, and lowered risk report costs. The company saw a large gain in efficiency, with their new risk assessment process completing 7.5 times faster.
AFMIC’s previous risk assessment was a multi-step, error-prone process. Staff manually input risk information into a non-integrated, third-party site; downloaded risk data from the site; and manually copied risk data into BriteCore––the company’s cloud-based core, data, and digital solutions provider.
This process was time-consuming, required duplicate entry, and contained a large margin for error. Alamance needed to find a risk data provider who could capture more data quickly using automated procedures and improved reporting capabilities.
The selected third party risk data provider––HazardHub––completed the majority of the implementation project with minimal work required from AFMIC staff. Specifically, the vendor’s team assessed the Alamance’s business needs, built a risk assessment solution from their API framework, and conducted vigorous quality control testing on the new system. Before going live with the final integration, Alamance staff were required to validate implementation code and test results.
Phases and timeline
Alamance developed and implemented the new solution within eight weeks. The vendor’s technology team spent two weeks learning BriteCore's code to configure the risk assessment solution for Alamance. Once configured, the vendor utilized BriteCore’s open-source framework to connect the two software platforms. HazardHub and BriteCore engineers both conducted quality control and user testing, ensuring the two platforms worked together seamlessly. Alamance’s staff finished the project by validating HazardHub’s code and carrying out usability tests.
Technology and Tools
Alamance partnered with HazardHub, a geospatial risk data provider, to implement a user-friendly risk assessment process. HazardHub uses API delivery to provide customers with information from its property-level hazard risks database. By accessing BriteCore’s open source tools, HazardHub built API calls connecting BriteCore’s data entry and reporting sections with HazardHub’s database for smooth automation of risk data lookup.
The biggest challenge Alamance faced was linking their policy administration and risk assessment systems. To overcome this challenge, they utilized BriteCore’s API to bridge the systems, eliminating duplicate entry. Through BriteCore’s Community Source Development Program, HazardHub engineers added integrations directly into BriteCore’s source code repository. HazardHub was the first BriteCore vendor to write 100% of the code required to integrate their solution with the carrier’s core, data, and digital solutions software.
Success Factors & Metrics
The project was successful due to the speed and accuracy of the implementation. HazardHub built Alamance’s customized risk data platform and integrated it with the company’s PAS system to capture and report data more quickly.
As a result, Alamance’s risk assessment and reporting processes are 100% automated––employees compile risk data in their policy administration system, the data automatically uploads to HazardHub through API calls, HazardHub compiles a risk report, and the adds the report to BriteCore’s policy system. The process is 7.5 times faster than their previous process, it eliminates duplicate entry, and markedly reduces errors.