BATON ROUGE, La. (press release) – LWCC, a private, mutual workers’ compensation insurance company, is nationally recognized for achievements in technology innovation for its recent integration of advanced digital systems. Salesforce has named LWCC and PS Advisory as its 2024 Partner Innovation Award Financial Services Winner and Celent, a global research and advisory firm for the financial services industry, has named LWCC winner of its Model Insurer Award for Legacy and Ecosystem Transformation.
LWCC also earned a top 10 national ranking in a 2024 Catalyit survey of agents’ perception of how well carriers support them, including factors such as being easy to do business with, providing the tools needed to maximize efficiency, and being forward thinking.
“These innovations give our dedicated employees and agent partners more time to invest in the purpose-driven parts of their jobs – caring for injured workers, guiding employers in creating safer workplaces and, ultimately, helping Louisiana thrive,” said Kristin W. Wall, president and CEO of LWCC. “Receiving national attention from well-respected industry leaders also elevates Louisiana’s business reputation among innovators, which is a cornerstone of our vision.”
For its recent digital transformation projects, LWCC sought to merge legacy knowledge with advanced technical capabilities. To do this, the company brought former employees out of retirement to join analytics experts from PS Advisory, a core Salesforce implementation partner that is focused solely on the insurance industry.
With the digital system they created together, LWCC is able to achieve faster responses to agent partner inquiries and streamline workflow, while keeping staffing intact. In some cases, LWCC process responses have been reduced from weeks to minutes. Highlights include:
LWCC’s underwriting desktop, which manages new business processes and endorsements, uses optimal character recognition (OCR) to instantly update files and is increasing process automation from 40% to 70%.
CompZone+, a portal for quoting and servicing LWCC policies, is dropping the average application time from 12 minutes to 3 minutes.
Dashboards for LWCC field marketing teams and agent partners are reducing the time spent preparing for regular meetings from 2-3 hours to 15 minutes, improving insights and expanding the time available to focus on productive relationships.
As of September, 74.2% of LWCC agent partners said they were “satisfied” or “very satisfied” with the new systems.
LWCC’s digital transformation initiatives are achieved over a series of incremental integrations that blend legacy knowledge with advanced systems. The new systems are now addressing the needs of internal and external teams instantly, securely, and accurately.
