The Equine Specialist
Executive Summary
A specialty equine insurer was struggling with manual processes and outdated systems that hindered their ability to grow. They kept track of their quotes and policies using spreadsheets and shared file folders which they quickly realised that they were outgrowing. They needed to keep up with the demands of their growing business and provide a better customer experience. In addiiton, they needed the ability to rate up to 1000 horses at a time and each horse neded to be rated based on their age, breed, and value as well as a custom set of coverages by horse. Finanlly, they had a complex spreadsheet to keep track of deductibles and limits that needed to be automated and enforce complex rules like an expert underwriter.
Company Profile:
Industry: Equine Insurance
Size: Mid-sized carrier
Market Presence: Regional/National
Written Premium: $80 million annually
States Served: 50 states
Lines of Business / Coverages:
Equine Mortality
Major Medical & Surgical
Liability Coverage
Farm & Ranch Property
Horse Trailer/Transport
Show/Event Cancellation
Breeding/Infertility
The Challenge
Detailed exploration of the carrier's struggle with spreadsheet-based management, including:
- Managing coverage details for up to 1,000 horses in single quotes
- Day-long manual processing times for complex schedules
- Error-prone data entry across multiple worksheets
- Building a self-service customer portal with 24/7 accessibility
- Limited scalability for business growth
- Underwriter inefficiency and customer response delays
The Solution
Automated rating for up to 1,000 horses at a time that runs in less than 5 seconds
- Custom rating rules enforced for each horse
- Automated rating for complex schedules
- Automated rating for complex deductibles and limits
- Ability to IMPORT existing Excel spreadsheets and instantly rate as a new quote without data entry
- Ability to EXPORT data to Excel with a single button click
- A Deductible Worksheet that enforces all rules like an expert underwriter
- Custom letter and correspondance generation from the system
- Full document management system with folders built into the system
- Automated billing and payments
- Commission Calculations with statements and checks produced
- Automatic form selection on bind that adds the appropiate forms and endorsements to the policy based on states, coverages, and limits selected
- Automated renewals with the ability to change coverages and limits
Conclusion
The transformation journey of this equine insurance carrier illustrates the powerful impact of purpose-built technology on specialized insurance operations. By transitioning from cumbersome spreadsheet-based processes to the Mercury Platform's streamlined solution, the carrier achieved dramatic improvements in efficiency, accuracy, and customer service. This modernization effort has not only resolved immediate operational challenges but also positioned the company for sustainable growth in a competitive marketplace. The success of this implementation demonstrates that with the right technology partner, even highly specialized insurance operations can achieve digital transformation without compromising their unique business requirements.
About Mercury Platform
The Mercury Policy and Claims Platform provides a comprehensive, end-to-end solution designed specifically for the insurance industry. With flexible architecture and modular design, Mercury adapts seamlessly to the unique requirements of specialized markets like equine insurance. The platform offers a zero-cost SaaS license with unlimited users, states, and premium volumes, making enterprise-level technology accessible to insurers of all sizes. Mercury's intuitive interface combines powerful automation, real-time data processing, and customizable workflows to streamline every aspect of insurance operations from quoting to claims processing. Built by a team with deep insurance industry expertise, Mercury understands the nuances of specialized P&C lines and delivers solutions that address real-world challenges while enabling insurance carriers to remain nimble and competitive in a rapidly evolving marketplace.
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