Improve customer experience. Decrease customer costs.

When Pinnacol measures its performance, these are our North Star. Over the past year, we have asked our employees to look at everything they do through these lenses. The strong financial results and impressive customer satisfaction numbers in this report – and our recent inclusion in the “Ward Top 50,” an analysis by Aon that singles out the best-performing 50 property and casualty insurers among 3,000 worldwide – are a testament to the impact this approach is having.

But the reason for this laser focus on customers is not us; it’s you. We recognize that customer expectations have changed. It’s not enough for us to simply be here when policyholders file a claim or when injured workers need help. We have to make the process of buying a policy, filing paperwork and answering questions as easy and seamless and intuitive as possible.

And frankly, when we interviewed our agents, policyholders and injured workers, we realized we had a long way to go to simplify these experiences and to minimize wasted effort that adds to frustration and costs.

We’ve taken those learnings to heart, deploying Toyota Lean approaches, advanced analytics and digital tools to improve the way we serve your needs. Here are a few examples:

  • We’ve changed the way we gather customer feedback to make it more meaningful. We began by mapping out all the ways businesses interact with us, from the moment they purchase a policy through the closure of a claim. Then we interview them at six different points along their journey – after a safety visit, after an audit, after a claim has closed, etc. – to hear how it went and learn from their responses.
  • After better tracking the reasons policyholders, medical providers and injured workers call us – and the times when they call – we’ve added new functionality to our online portals, so customers can get the info they need without having to call us.
  • We’ve implemented direct deposit for our injured workers. Now, rather than having to wait for a check, 72 percent of the injured workers we serve have the confidence of knowing it is going straight to their bank account.

And we’re very pleased that you’ve responded to these efforts. Our Net Promoter Score (a standard way of measuring satisfaction) among policyholders stood at 52 in June, higher than the industry benchmark of 33, and our satisfaction score among injured workers was 4.1 out of 5.

These aren’t the only ways we’re reinventing the way we do business. We’ve also created an exciting new way to simplify the purchasing process for our smallest policyholders – those with annual premiums of $10,000 and less – who buy from us directly, rather than through an agent. Last October, we launched Cake: a new online platform for those customers to get a quote, purchase and manage a policy.

With Cake, we looked at the way our smallest policyholders do business, and we asked them what they want. We saw that they expect simple, fast, online transactions and support. So we set out to give them just that. We reduced the time to get a quote and purchase a policy from 3-5 days to 3-5 minutes, set up live chat and text support, and started providing online certificates of insurance.

The response has been remarkable. Since Cake went live in October, more than 1,000 customers have used it to buy a policy, generating over $2 million in revenue. It’s been recognized nationally with awards like IDG’s “Digital Edge” and Celent’s “Model Insurer,” and was the subject of a recent case study by the international consulting firm Forrester Research.

Most importantly, policyholders love it. They’ve given us feedback like “Was so easy and slick. Insurance right away!” and “This was the easiest insurance I have ever obtained.” And Cake’s NPS score is even higher than Pinnacol’s: It’s consistently around 74. That shows how, when you listen to the voices of your customers before launching a new innovation, you’re going to provide them a product or service that delights them.

Transformative leaps in customer satisfaction, such as those we’ve seen with Cake, don’t just happen. They spring from a willingness to look simultaneously at the big picture – How is business changing? – and the small – How do you as an individual behave? – and synthesize that information into new ways of serving customers.

At Pinnacol, we enjoy sticking up our periscope to survey the far horizon just as much as we enjoy sitting down with our customers to understand the specifics of how they work and how they want to work with us. As long as we continue to do those things, I’m confident I’ll be sharing news about other successful innovations in the future.

Philip B Kalin Phil Kalin
President and CEO
In 2017...
We covered almost
1 million
Colorado workers.
We reduced rates by 3.2% on average and shared $50 million in dividends.
We covered almost 1,000,000 Colorado workers
Our policyholders' satisfaction levels were 8.5 on a 10-point scale, well above the industry norm.
Our safety consultants touched every corner of Colorado, making more than 2,500 policyholder visits.
We resolved claims 12% faster on average than our competitors.

Let's look at the numbers.

Combined Ratio Chart
Combined Ratio Chart
Combined Ratio Chart
Audited Financials




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