Louisiana Citizens is the residual market
insurer for property in the state of Louisiana. We provide full property insurance policies
for individuals who aren’t able to get that insurance in the private market. So a lot
of our policies are concentrated in the New Orleans area and right along the Gulf Coast
in areas that are highly exposed to catastrophic events. We’re considered a small company. We currently
have about 105,000 policies and $200 million in written premium. On an average year, we have about 6,000 what
we call daily claims. However, in the event of a major catastrophic event, we can have
50,000 claims, which requires a big-company response. Everybody remembers Hurricane Katrina and
all the issues associated with that. Conditions following Katrina were very devastating.
Many business and personal properties and commercial properties were destroyed. There
were also people that lost their lives, because they chose to stay and underestimated the
magnitude of the storm. Overall, Katrina was a nightmare. During the time of Hurricane Katrina we didn’t
have a common estimating platform. All of our adjusters were using different estimating
systems. We would send an email or a fax to the independent
adjusting company to get the assignment out, but we had to literally, manually track the
assignments on a spreadsheet. So it was a very difficult to provide any level of customer
service to our policyholders when they called about the status of their claim. One of the advantages of working with Xactware
has been we’ve been able to acquire multiple plug-and-play solutions to significant problems
that we’ve had with our claims process. They’re all on a common platform. They all work together. The one thing that I love about XactAnalysis
is that it’s a management tool. Prior to using XactAnalysis, we didn’t know
the dates that the claims were inspected. We didn’t know the dates that the estimates
were written, or the dates that the estimates were being by our independent adjusting firms.
Now by having all that information contained in XactAnalysis, it’s right there at our fingertips,
easy for us to see. Utilizing Xactware products have enabled us
to transform our claims organization. We’re able to get our customers back on their feet
as quickly as possible, and we now a way to quantifiably measure the impact of our adjusting
on the company.