Surpassing Spreadsheets:

NIP Group Excels in Insurance Solutions with Claims Management Technology

NIP Group has dramatically enhanced their customer service and satisfaction, by eliminating data silos and improving operational efficiency with Ventiv.

NIP Group logo

NIP Group is a market-leading specialty insurance program manager that designs unique commercial insurance solutions and risk services for more than 25 niche industries, including grading and excavation, landscaping, tree care, greenhouse operations, and more. Working with more than 5,500 broker partners, they help clients gain control over their costs, secure customized coverage and create safer work environments.

data from disparate sources - data silos

The Challenge

With so many complex industries to serve, NIP Group needed a sophisticated claims software solution to streamline claim management and reporting. In one of NIP Group’s business units, they serve as the attorney-in-fact administrator for two public entity risk pools. Oftentimes, municipalities will pool together to purchase insurance to leverage economies of scale and disperse the risk across the group. In many cases, this can result in many separate TPAs, each with their own standards, level of data quality, and naming conventions. These TPAs include national, regional, and independently owned levels. NIP Group was looking for a system that would set the unifying standard and run advanced reports with comprehensive data from disparate sources.

Beyond aggregating and standardizing data from various TPAs in pooled insurance solutions, NIP Group needed a solution for their MGA/MGU business unit which, in addition to aggregating claims information, added nuanced policy and exposure requirements. They sought to create an environment that would compile claims, policy, and exposure data from three specific carriers and run reports across multiple objects. NIP Group also had to provide regulated reporting to external entities as well, adding another element of complexity to their reporting needs.

The existing processes were tedious and labor intensive, and analysis within data silos was insufficient to reach strategic business decisions. NIP Group needed to eliminate these silos and perform much more robust reporting without creating administrative burden for their agents.

“You need more than a database. You need a partner that understands the insurance industry and the technology required to accomplish these goals. You need people who understand not just data but insurance data."

Steven Strauss
SVP Finance, NIP Group

For example, exposure data with tangible assets like cars and mobile equipment can result in millions of data points. A database could potentially house this data but would have major limitations. Insurance agents need to be able to look at this data from a multidimensional perspective.

“Without the right technology, you’re essentially driving blindfolded,” said Strauss. “Claims management software can provide a holistic view of risk and give strategic leaders the focus to outperform others in the industry.”


The Opportunity

In order to identify the right technology partner, NIP Group established the criteria of their ideal solution and provider. Partnering with a well-known vendor was important, as their complex claims requirements demanded a thorough understanding of the industry. They also wanted a customizable solution that could be tailored to address their unique needs.

From a technical perspective, NIP Group sought a logical database schema that would be easy to maintain, along with enterprise business intelligence tool integrations. Database security and audit compliance were also top priorities, in addition to advanced reporting requirements.

NIP Group also desired a streamlined implementation process with secure data loading. Beyond creating a standardized data dictionary, NIP Group wanted a clean data load process with a secure ETL tool for automation. Given the extensive volume of their data, NIP Group also looked for a vendor that could customize the data hierarchy according to their business needs, and not necessarily in a linear fashion.

From a user experience standpoint, NIP Group needed a solution that would enable them to manage different lines of coverage for various industries. They wanted the ability to track and maintain data from all the different entities within a single system. Email and communication workflows were also particularly important, specifically for technology updates and issue management. The desired claims management solution would also ideally connect seamlessly to their risk management information system (RMIS).

Beyond the technical factors, NIP Group was looking for a tiered licensing structure and an implementation cost within their budget. They also wanted to set parameters for escalations and evolving priorities.


The Solution

After meeting with the Ventiv team and learning more about their insurance technology and industry expertise, NIP Group decided that Ventiv was the most qualified vendor to address their complex requirements.

With new claims management software in place, NIP Group is better equipped to perform qualitative analysis and meet the voracious reporting demands of consumers throughout the organization. With volumes exceeding 75 daily reports, NIP Group is much better positioned to run comprehensive reports and easily distribute them to authorized users. The advanced reporting capabilities allow the team to think deeper, ask more follow-up questions, and make data-driven decisions that benefit the business overall.

In addition to streamlining their internal reporting, NIP Group has more capacity to manage reporting for carriers and tower insurance company groups. They also can easily maintain compliance with state division banking and insurance annual reports. The ability to use a single system to manage both internal and external reporting requirements has dramatically improved efficiency and outcomes for NIP Group.


The Results

By eliminating data silos and improving operational efficiency, NIP Group can quickly identify and act on data trends. To serve their clients effectively, they need to be able to look at rates and view how they change over time for benchmarking. With the new claims management solution, they can benchmark on eight dimensions at a segment-specific level to provide the best underwriting strategy. This visibility enables the underwriters to adapt much faster to industry changes, and they can now leverage their expertise in ways they couldn’t before.

Prior to implementing the new claims management solution, NIP Group was only able to develop a fraction of the information they needed using spreadsheets. They can now see the big picture in a unified way that simply wasn’t possible before, and they are saving significant amounts of time in the process.

“In weeks, we would only produce a fraction of what we can now do in a matter of days,” said Strauss.

With this improved accessibility and visibility, NIP Group can better serve their clients in the public sector in particular. When working with municipalities, it’s important to ensure that work is accurate, transparent, and available for public review. NIP Group can easily provide access to comprehensive data, which strengthens relationships with clients while improving claim outcomes.

NIP Group has dramatically enhanced their customer service and satisfaction, as they can now ask the questions and manage the book in a way that allows them to focus on what is working well and eliminate the activities that aren’t as successful. They can now accomplish tasks that they previously couldn’t, and they have more time to devote to serving their customers. Not only that, but the information they can produce is impactful to their leadership team and across the entire organization.


Looking Forward

Much like Ventiv, NIP Group is always looking forward to what’s next. They have been impressed by the advanced reporting capabilities of the solution and are eager to see the new visual dashboarding capabilities and additional functionality in development. Their overall portfolio performance has markedly improved, and they are already considering expansion into more towns. In partnership with Ventiv, NIP Group has transformed the way they manage their claims information to eliminate data silos, better serve their clients, and drive optimal outcomes.