Two of the largest West Coast insurance providers, California's State Compensation Insurance Fund (State Fund) and CopperPoint Insurance Companies, signed on with AuSuM Systems during the first quarter of 2021 in continuing efforts to improve the efficiency and accuracy of their operations. Both are among the top 25 largest Workers Compensation insurers in the United States.
California's State Fund, based in Pleasanton, chose PAM™, AuSuM’s Premium Audit Manager™, to help automate their processes and implement a web-based system that integrates with auditors, agents, and customers.
State Fund is a not-for-profit organization, and is funded solely by premiums and investment income. According to Monty Roach, President and CEO of AuSuM, “This makes it critical for data to be accurate and timely. Everything about PAM is designed to minimize human errors that can occur and automate manual processes during the audit.”
With PAM, companies are able to define clear and consistent rules and workflows across their enterprises, and have access to the audit data in real time, including all supporting documentation. "This helps make the entire process quicker," Roach explained, "and ultimately much more accurate."
For State Fund, which manages around 110,000 policyholders and close to $1 billion in premiums, the impact is expected to be significant.
“PAM will help State Fund improve every step of their premium audit operations from assigning and tracking audits to submitting final reports,” Roach noted.
Audit & Survey Management solutions from AuSuM help drive better decision-making and provide users with the most streamlined workflow experience possible.
CopperPoint Insurance Companies, a regional commercial insurance company based in Phoenix, AZ, has implemented SaRA™, AuSuM's Survey and Risk Assessment™ platform, at an enterprise level across three carriers: CopperPoint Insurance Company, Alaska National Insurance Company, and Pacific Compensation Insurance Company.
SaRA™, a sister product to PAM,offers end-to-end web-based support to automate any survey operation from risk management analysis and safety inspections to underwriting evaluations and claims verifications.
Like PAM, Roach explained, SaRA “allows companies to move their entire survey process online and get 24/7 access to its information.”
For CopperPoint Insurance Companies, SaRA provides a new level of flexibility and a more robust solution for both executing surveys and analyzing their results. The platform’s easy-to-use drag-and-drop form building capabilities lead the industry, and allow insurers to customize surveys based on the type of building they are assessing.
Roach also pointed out that “the whole team has access to better tools, including a range of modules that reduces administrative workload while improving the quality of their reporting.”
For a company like CopperPoint, who has coverage in 10 states, including Alaska, SaRA is helping bring consistent processes and tools across its teams and regions. In addition, he noted, with both PAM and SaRA, customers immediately see reduced administrative cost,decreased turnaround times, overall higher productivity, and greater probability of policyholder compliance.