Case Studies

NYCIRB

Business Challenges

  • Compile data from all insurance carriers that write workers' compensation policies in New York State
  • Provide rating data and other statistical reports to the entire insurance community

In accordance with New York State Insurance Law, an independent agency must collect and summarize the loss, premium, and payroll data from each workers' compensation carrier to develop adequate rate structures. The New York Compensation Insurance Rating Board (NYCIRB), a not-for-profit insurance association, performs these ratings. Traditionally, NYCIRB used legacy mainframe applications to compile the data. Paper archives were also stored which incurred significant costs to the organization. As a non-profit agency with a strict budget, these unnecessary expenses were inefficient. The Board required a solution that could improve the consistency of the data and streamline the workflow of the organization.

Axispoint Solution

  • Complete technology refresh including infrastructure, systems, and custom software applications to improve efficiencies
  • Integrate legacy systems with new technologies
  • Web-based client portals

Axispoint lead a multi-year technology refresh initiative that included network infrastructure, system integration, and custom software to improve efficiencies throughout the agency. An upfront consulting engagement provided for the documentation of workflow processes related to the management of incoming paper policies. Based on this analysis, a solution was designed to scan the documents into an enterprise document management and process the policies electronically. In the latest phase of the project, the system has been upgraded to include barcode technology and optical character recognition to further streamline workflow of document indexing and scanning.

In addition, client portal applications were built to deliver information to the carriers. The web-based ratings system allows the Board to distribute data to the entire insurance community more quickly and accurately. Secure portals display results independently for each carrier, and allow users to view, download, and print information. Data delivery and constituents have been added over the years to improve the level of service that the Board provides.

Business Value

  • Up-to-date technology and interoperability with modern systems
  • Storage space, time, and labor costs are significantly decreased
  • Workforce is reduced by 8%

Each of the initiatives implemented at NYCIRB has delivered substantial value because they have streamlined the company's workflow. The technology refresh has created a more effective work environment for employees, reducing the workforce by 8% and greatly reducing the costs associated with processing data by hand. Since the function of the Board is to provide accurate, easily accessible information to the insurance marketplace, a technology-enabled platform has reinforced their role in the industry.

Axispoint offered a solution with one point of contact for planning, implementation, development, and support. This was a critical differentiating factor for the Board and for other small businesses like it. As their previous experiences left them with different contact people each time there was a problem, they appreciate the unique customer focus that Axispoint provides.

"We went from being considered 'a dinosaur' to 'leading edge' in our industry," says Lucy DeCaro, NYCIRB's Executive Vice President of Data Processing. Axispoint has completed dozens of projects for NYCIRB throughout their ten year partnership, and continues to work closely with the Board.

"Axispoint approaches each project with a strong customer focus. They go above and beyond the call of duty, and are truly 'in the trenches' with us. They have built a system that has added tremendous value to our company, and we are proud to call Axispoint our technology partner".

- Lucy DeCaro, Executive Vice President, NYCIRB