Meet Innovated Holdings

Business Benefits

• 75% growth in year one, 50% in year two
• 70% faster quoting: Agents can quote policies in minutes, enabling faster service and improved customer satisfaction
• 85% improvement in STP
• Claims cycle times dropped significantly, with auto and casualty claims reducing from 14–15 days to 9–10 days
• 88% to 93% jump in customer satisfaction

The Story

Innovated Holdings empowers small mutual insurers with technology and services that help them compete and grow. "Our goal is to help small mutual insurers achieve what they couldn’t on their own," said Matt Osterthun, Assistant Vice President of Sales and Marketing.

Before adopting Guidewire, Innovated Holdings struggled with outdated, manual processes that caused inefficiencies across quoting, underwriting, and claims. "We were running three or four disconnected systems," said Kent Peterson, Assistant Vice President of Claims. "The manual processes caused delays and errors, and we lacked the visibility and automation needed to operate efficiently."

To address these challenges, Innovated Holdings implemented InsuranceNow for its scalability and all-in-one capabilities, later integrating HazardHub for automated risk assessment.

The results were immediate and impactful. "Implementing three carriers, six states, and 22 products on time and on budget with a team of four was a major achievement," said Bill Corwin, Assistant Vice President of IT.

The company also embraced Guidewire’s partner ecosystem, integrating Hi Marley for real-time customer communication. "Texting is how people communicate today," explained Peterson. "Hi Marley enables us to interact with customers in real time, and everything is logged directly into the system."

Key results include 75% growth in the first year and 50% in the second: "Once we had the agents identified and onboarded, we saw 75% growth within the first year, followed by another 50% the second year," said Osterthun.

Quoting became 70% faster, and Innovated Holdings achieved an 85% improvement in straight-through processing. Claims cycle times dropped significantly, with auto and casualty claims reducing from 14–15 days to 9–10 days.

Customer satisfaction also saw a 5-point NPS increase. "We’ve seen a jump from 88% to 93% in customer satisfaction," noted Peterson.

HazardHub’s API integration streamlined risk assessments, reducing agent workload. "The automation has been a game changer," said Joey Kenney, Vice President of Underwriting and Product Development.

On the claims side, the Guidewire platform enabled same-day ACH claim payments. "For example, we could ACH a customer’s claim payment the same day their tornado-damaged home was assessed. That level of service wasn’t possible before," offered Peterson.

By modernizing operations with Guidewire InsuranceNow and HazardHub, the company has enhanced automation, efficiency, and customer experience. "What Guidewire has done with InsuranceNow is provide a forward-thinking integration, making it an easily deliverable tool that enables us and our customers to communicate easily and efficiently," shared Peterson.

Looking ahead, Innovated Holdings is focused on AI and machine learning to drive further innovation. "With Guidewire’s tools and resources, we’re showing the industry what’s possible," said Kenney.