BrickStreet Insurance Saves over $3 Million with Effective Fraud Investigation Software

• Case Studies
• Snapshots

BrickStreet Mutual Insurance Co.

Challenge

• The newly formed company needed an investigation solution to track all the details of fraud cases, and report on cases to support administrative and internal information requirements.

Solution

• The Web-based solution allowed for quick implementation and supports remote use by investigators around the state.
• Investigators log case details in the field, then synch with the main system when back at their offices.
• The software automatically routes cases from stage to stage, notifying the relevant individuals.
• BrickStreet runs reports to assess its performance and savings, and meet regulatory information requirements.

Results

• Reduces the overall time to reach action on fraud cases.
• In the first 14 months, the SIU demonstrated, through i-Sight, that the team saved the company more than $3 million by stopping potentially fraudulent cases.
• Savings allow BrickStreet to keep premium costs down so it can more profitably and effectively compete in the market when it is fully privatized beginning in 2008.

“i-Sight is a great tool to track all activities and demonstrate estimated savings when we’re successful with an investigation. We can clearly show the kind of savings BrickStreet has seen as a result.”
— Lisa Prater, Manager, Special Investigation Unit, BrickStreet Insurance

Email this page Print this page

• Related Content