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Empowering a Small Team with a Robust Property Risk Management Solution
技术
- 应用基础设施与中间件 - 数据交换与集成
- 平台即服务 (PaaS) - 数据管理平台
服务
- 数据科学服务
挑战
Prior to implementing AMP, the North Dakota Insurance Department (NDID) was experiencing rapid growth in Total Insurable Value (TIV), operating with a small team, using a valuation tool with limitations, and aware of inaccuracies in insurable values. The development of the Oil & Gas industry in North Dakota had a big impact on the State Fire and Tornado Fund, leading to the expansion of courthouses and the construction of new schools. This growth was a key driver in the build out of a lot of new infrastructure.
关于客户
The North Dakota Insurance Department (NDID) is part of the State Fire and Tornado fund that provides affordable property insurance coverage for the State and its political subdivisions since 1919. The fund covers properties ranging from the State Capitol and State Fair to the many K12 school districts and Institutions of Higher Learning across North Dakota. Located in Bismarck, ND, the population of North Dakota is more than 750,000. In 1999, the total insurable value of NDID assets was approximately $3.5 billion. Today, that number has climbed to over $14 billion. The NDID manages approximately 10,000 buildings with a total insurable value over $14 billion.
解决方案
By implementing AMP, NDID was able to keep up with a growing property portfolio, leverage the power of a true partnership, experience added value through robust functionality, and improve valuation data for its insured properties. With valuation models built, and continually refined, exclusively for the State of North Dakota, the AMP Valuation Estimator gives the State Fire and Tornado Fund a simple but more precise way to value the buildings on their property schedule. Beyond providing NDID with more accurate insurable values, AMP has been able to help streamline additional State Fire and Tornado fund processes around data and claims management.
运营影响
数量效益
