Haley Property & Casualty

When Actuaries can understand the terms that their organizations use to conduct business and understand how those terms impact their businesses, then they see clearly how to support and maintain the processes that use those terms with minimal effort. However to achieve this, a very knowledgeable person or group of people would have to establish the vocabulary and the meanings required to support the Property and Casualty (P&C) process.

Instead of having every Insurance carrier create their own P&C knowledge structure Haley created the P&C Insurance Knowledge-Pack derived from the ACORD standard. In this Knowledge-Pack, the ACORD vocabulary is mapped into an ACORD knowledge base with the appropriate relationships added. With this rich foundation, an Actuary or Business Analyst will be able to quickly create rules and identify dependencies between them, which will decrease time spent redeveloping the P&C processes and rules downstream. The rules and policies that govern a P&C practice can be developed more quickly and by non-technical staff with the language of P&C vocabulary to work with, rather than a set of software functions. Check the P&C ACORD phrasing or see our other Insurance Applications.

Agility equals increased ROI

With Haley's P&C Insurance Knowledge-Pack we provide insurance carriers with a foundation for achieving agility in Straight Through Processing (STP) of claims and leakage reduction. Some P&C insurance carriers achieved 60% automation in less than 2 years using the Haley Business Rule products and their goal is to achieve 75% in the future.