More than 80% of personal lines and individual life insurers are currently using straight-through processing (STP) to automate their underwriting processes according a recent Novarica article. Due to the complexity of commercial insurance, implementing STP has been a challenging journey for carriers that serve these lines. However, the accelerating force that digital platforms such as Convr's provide is making it easier for commercial insurers to make the leap to STP. In this case study, Columbia Insurance Group shares their story of enabling STP while attaining underwriting excellence through the use of Convr's d3 Risk 360™ and d3 Intake™ solutions.
Introduction: Started in 1874 in Columbia, Missouri, Columbia Insurance Group operates in 14 states and its independent agency channel runs through four branch offices. It has seen times of tremendous change, both prosperous and disruptive, and through it all has built enduring customer relationships by focusing on service and value. With a rich history spanning over 140 years, Columbia recognized it needed to invest in digital capabilities to continue to thrive...
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