Openly Insurance: Transforming catastrophe response
This case study explores how Openly partnered with Cotality to replace guesswork with Weather Insight™. By visualizing storm impacts against their book of business in real-time, Openly has transformed its operations—providing immediate transparency to reinsurers and delivering a proactive claims experience that leaves policyholders "blown away."
Transforming from reactive to proactive with Cotality™ Weather Insight™
When severe weather strikes, the clock starts ticking for property insurers. Not only do policyholders need immediate support, but financial stakeholders also require rapid, accurate assessments of the business impact.
For Openly, a premium insurance provider, relying on a traditional system of waiting for claims was not an option.
Openly sought a way to replace guesswork with real-time intelligence by partnering with Cotality and leveraging the Weather Insight™ platform, completely transforming how they manage storm operations.
The challenge: Communicating impact in a "wait and see" world
When massive weather events occur, insurance companies face immense pressure from multiple angles. For Openly, one of the primary hurdles was keeping their financial backers fully informed during the chaos of a storm's aftermath.
"When these CAT events occur, reinsurers and investors are interested in the impacts of the event on our business," Dean Auble, Director of Claims, explains.
Before utilizing modern technology, navigating the days following a catastrophe often meant operating in the dark. Openly needed a way to acquire immediate, real-time data to improve proactive operations and communication.
The solution: Real-time intelligence and proactive planning
To eliminate the traditional "wait and see" approach, Openly turned to Cotality's Weather Insight to visualize storm impacts against its book of business, gaining visibility into which policyholders were in a storm's projected path.
The results: An exceptional, proactive customer experience
While Weather Insight successfully solved the company's stakeholder communication challenges, the most transformative benefit was felt by Openly's policyholders.
Instead of waiting for policyholders to report damage, Openly leveraged Weather Insight to identify policyholders potentially impacted and proactively began the recovery process.
By acting quickly, Openly has successfully shortened cycle times and driven policyholder satisfaction.
A partner in progress
A key component of Openly's success with Weather Insight has been the dedicated human support from the Cotality team. From day one, Cotality representatives took the time to truly understand Openly's unique business model.
The bottom line
For insurance companies considering how to better handle catastrophe response, Openly's journey offers a clear blueprint. By replacing reactive, manual processes with real-time data, they achieved stakeholder transparency, optimized vendor planning, and delivered an unmatched customer experience.
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