Camico Mutual Insurance Company, the largest certified public accountant (CPA)-owned mutual insurance company in the United States, is using Oracle Fusion Middleware Solutions for Insurance, including Oracle WebCenter Suite and Oracle Business Process Management, to help increase the volume and depth of information available to its customers and improve underwriting efficiency.
The company selected Oracle solutions to expand the capabilities of CAMICO's custom-built extranet application - improving the cost efficiency of delivering content to its customers and facilitating continued business growth in the competitive insurance industry.
With Oracle WebCenter Suite, CAMICO provided access to multiple channels for conducting business and locating information, improving the customer experience.
Within six months of deploying the Oracle-based solution, CAMICO received half of its direct application and renewal submissions via its online channel and increased the total number of submissions received across all channels of communication.
Using Oracle Business Process Management, CAMICO has automated transaction processing, enabling the company to fine tune underwriting logic and increase the number of users who can complete transactions online. As a result, CAMICO has improved underwriting efficiency and decreased the amount of manual work associated with the insurer's application process.
CAMICO also automated renewals of its employment practice's liability policies and plans to expand its use of Oracle Business Process Management to offer online renewals for professional liability.
CAMICO improved decision-making capabilities for its management team by enabling rapid online access to enterprise data, including previously disparate sales data. Improved data access and business intelligence enable CAMICO to identify areas for improvement and define strategies to promote business growth across the enterprise and all channels of business.
"As the largest CPA-owned mutual insurance company in the United States, our customers rely on our services and information to help them mitigate their inherent business risks. With Oracle WebCenter Suite and Oracle Business Process Management, we opened up a new channel to provide service to our customers and improved our ability to promote growth through a new channel of customer interaction," said Scott Webber, vice president of eBusiness, CAMICO Mutual Insurance Company.