Municipal Mutual

Going Digital Drives New Business Growth

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Objectives

MMIC needed to modernize.

MMIC has a long history as a regional property and casualty insurance company. They have been in business for over 110 years and write $18M in premium with only 13 full-time employees. They knew the future of MMIC depended on their ability to thrive in the digital world. Recognizing the need to modernize in order to remain competitive, MMIC sought a new system to streamline operations, provide a stable platform for growth, and efficiently offer new products.

Challenges

Old methods were costly.

Outdated processes, manual workarounds, paper records, and legacy technology were holding MMIC back.

  • Agents complained about MMIC’s inefficient, primarily paper-based processes. Some independent agency offices stopped writing business with MMIC for this reason.
  • MMIC struggled with limited visibility into their business. The limitations of their legacy core systems prevented MMIC from tracking any data beyond basic financial indicators.
  • The large volume of documents generated by MMIC’s operations required massive storage space and dedicated employees to manage their complicated paper-based system.
PRocess

A cloud platform provided continuous improvement.

MMIC wanted to make processes so easy and efficient that, as CEO and President Brian Taylor put it, “People had to do business with us.” The MMIC strategy focused on strengthening IT and system familiarity, as well as developing a cross-training program for all in-house staff.

They selected the cloud-native BriteCore platform to achieve these goals. Hosted through Amazon Web Services, BriteCore offers core, data, and digital components to improve efficiencies, disaster recovery capabilities, and agency relationships. The Policies and Claims modules provide simple, paperless management of the entire policy and claim lifecycle. Agents quote and submit new applications through BriteQuote, BriteCore’s integrated, web-based quoting service. Administrators can configure and update their product rates and rules from the Lines module, automatically updating products across the administrative and agency portals.

MMIC went live on BriteCore in April 2012 with their smallest line of business. They finished conversion from their legacy system in August 2014. BriteCore allowed MMIC to capitalize on ease of doing business and increase internal efficiencies.

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Since Municipal Mutual purchased the BriteCore product, we have gained the ability to customize our workflow and increase efficiency by eliminating manual processes. The “ease of business” concept really came to life and has let our company with limited IT staff prepare for future success!
Brian Taylor President & CEO
Municipal Mutual Insurance Company

Measuring Success

Since their project launch in 2012, MMIC’s direct written premium and policy count have increased each year.

They have experienced 3 specific benefits:

Agency Expansion and Feedback

MMIC’s user experience and digital capabilities improved to such an extent all agencies that had stopped working with MMIC returned. In addition, the number of agencies that write over $100K a year with them grew from 34 to 62.

Document Processing and Storage

MMIC has eliminated their document storage warehouse and become a paperless company. Elimination of printing and postage costs alone allowed MMIC to recover their BriteCore investment costs within nine months of project launch.

Data-Driven Insights and Transparency

MMIC is now able to run reports, merge reports and data, and evaluate their business’s metrics in real-time. Instant data access also shortened audits, financial reporting, and market conduct examinations, further reducing costs.