Workers Compensation Insurance
Two years after the founding of the Louisiana Construction & Industry Compensation Fund (LC&I), the staff was using a commercial-off-the-shelf piece of software to manage their fund. The software was non-intuitive, and LC&I staff had developed hundreds of tiny “work arounds” to match the workflows to their business needs. What’s more, as LC&I grew, the software was struggling to meet their growing needs. As they added new policyholders the system became slow and bug-ridden. Operations staff lobbied for a new system that would streamline their business.
The most critical portion of LC&I’s operations is the management of their policies. They needed a robust, stable database that would automate policy underwriting. Over a year-long period, Carrollton worked with LC&I staff and an embedded Business Analyst to create a proprietary system that would manage policies efficiently. The code was written specific to Louisiana law, and tailored to LC&I’s existing workflows. The software also needed to ability to export so that compliance records could be sent to the National Council on Compensation Insurance. This piece of software is known internally as FundOps.
After launch of FundOps, LC&I was so pleased that they ordered additional software. As FundOps had been initiated as a stand-alone project, the team was faced with the challenge of integrating the new desired features with the existing system.
LC&I desired a database that would manage claims on their policies. This allows fund managers to oversee cash flow, and make top-level changes to rates and policy renewals. Carrollton also created fraud detection algorithms that flagged aberrant claims for personalized review. The Claims system greatly decreased LC&I’s man hours spent during customer service calls. Instead of digging through paper files, staff were able to pull claim statuses and payment records directly from the cloud-based database.
As consumer mobile-usage increased, LC&I wanted to build external-facing portals to better serve their agents and members. Carrollton designed two websites to meet this need. The agent portal is accessed by LC&I’s more than 1,500 agents, and allows them to submit policy quote requests digitally. The member portal allows members to pay their bills and review policy updates and changes online. To be in compliance with state law, LC&I must offer safety training and job support services. These are done on the member portal as well.
Since the implementation of FundOps, LC&I has grown more exponentially. The system has streamlined their operations and allowed them to focus on expanding their customer base rather than internal processes.