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Comprehensive Cat Planning Enables Policyholder Satisfaction and Retention

Xceedance helped a homeowners insurer with comprehensive catastrophe response planning and management.

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A homeowners insurer was experiencing significant challenges in terms of catastrophe planning and management after witnessing two consecutive active hurricane seasons. The insurer required an experienced partner to help them plan for the next season and provide support during other extreme weather events. They capitalized on the Xceedance Catastrophe Response Planning and Management services to navigate these issues. Xceedance worked with the insurer to develop a cat response plan, including workflow documentation, call scripts, and training manuals. 

When the insurer’s markets were ravaged by the next season’s hurricane activity, it wanted to optimize its response to policyholders during the period of increased natural catastrophes. Xceedance facilitated extensive training, which was especially helpful during one particular cat event, enabling a team of 20 personnel to assemble immediately, alter their work schedule and double their capacity to accommodate the increased call volume. A senior adjuster was present on-site to provide support and assistance. Additionally, during the initial days of the cat event, the insurer lost power, and Xceedance took charge of calls, acting as the primary service connection to policyholders until the insurer was back online. To provide adequate support to the insurer, Xceedance monitored the storm and related events in real-time to facilitate necessary adjustments. 

For this single cat event, Xceedance interventions resulted in notable improvements in customer satisfaction and retention, a positive orientation towards the insurer’s brand, and cost savings of more than USD 500,000.

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