(February 6, 2017 – Toronto, ON) Grinnell Mutual Reinsurance Company, a provider of property and casualty insurance and reinsurance to customers in 15 states, and Risk Control Technologies Inc., the leading provider of loss control solutions for the insurance industry, today announced that Grinnell Mutual has selected Risk Control Technologies’ loss control software as the product that will be used by all Grinnell Mutual loss control specialists.
Implementation of Grinnell Mutual’s improved loss control reporting system will involve the deployment of tablets loaded with Risk Control Technologies’ software to allow field data collection by loss control specialists. This field data capture on a tablet device will reduce the redundancy of taking notes on paper in the field and developing an electronic report from those notes when loss control specialists return to their offices.
“We have been searching for quite some time for a vendor that can provide us with a high-quality loss control reporting software,” said Larry Gallagher, Grinnell Mutual’s loss control director. “After a thorough evaluation of the software available we selected Risk Control Technologies’ product primarily due to the ease of use, data mining capabilities, and the product’s ability to assist us with improving staff efficiency.”
“This software will also allow us to consistently provide high-quality reports to our stakeholders in a timely manner,” Gallagher continued. “Providing crucial information related to the risks that exist and the controls that are present or should be implemented allows internal and external customers to make decisions which can have a dramatic impact on financial results.”
The transition to this loss control reporting technology will enable Grinnell Mutual to:
- Perform data mining from loss control reports. Current narrative loss control reports, which don’t lend themselves to data mining, will be replaced with electronic forms designed to allow loss control staff to answer questions on the forms using drop downs, radio buttons, checkboxes, and short answers.
- Improve efficiency of loss control specialists through the elimination of redundancies in developing loss control reports.
- Improve the efficiency of loss control support staff by allowing loss control specialists to develop loss control recommendation reports, as opposed to support staff creating these reports.
- Provide improved service time on loss control reports by allowing loss control specialists to create the majority of their report as they interview policyholders in the field.
- Develop metrics for loss control field staff performance using management reporting tools provided by Risk Control Technologies’ software.
- Decrease hours spent per year by Grinnell Mutual IT staff developing and maintaining Grinnell Mutual software designed to provide metrics on loss control field staff performance.
- Decrease hours spent by loss control support staff creating monthly management reports that complement those created by Grinnell Mutual IT staff.
- Improve the consistency and quality of reports delivered to key stakeholders through the use of electronic forms designed to evaluate a variety of exposures during loss control surveys.
- Enable more effective loss control recommendation management to drive risk improvement.
About Grinnell Mutual Reinsurance Company
Located in Grinnell, Iowa, Grinnell Mutual operates in Illinois, Indiana, Iowa, Minnesota, Missouri, Montana, Nebraska, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Wisconsin, and Virginia, partnering with and reinsuring 250 mutual members and offering direct lines of insurance through a network of more than 1,600 independent agencies. We are the largest primary reinsurer of farm mutual companies in North America and continue to receive an A rating from A.M. Best, a leading industry rating service, as we have for more than 20 years. For more information, please visit http://www.grinnellmutual.com/
About Risk Control Technologies Inc.
Risk Control Technologies Inc. provides insurance carriers a unique combination of high tech loss control software and industry expertise. This powerful combination allows teams to achieve their overall risk management objectives through the use of both technology and industry best practices. Today, Risk Control Technologies’ community of loss control leaders includes some of the most progressive loss control focused carriers in the world. For more information, visit www.riskcontroltech.com.