Case Study: US Large Property Casualty Insurance Company achieves automated Connecticut territorial-rating compliance and faster policy pricing with Precisely's Address Fabric

US Large Property Casualty Insurance Company - Customer Case Study - Customer Case Study

US Large Property Casualty Insurance Company, a major provider of property and casualty insurance, faced a regulatory and operational challenge in Connecticut where Insurance Department Regulation 38a‑686‑2 bans splitting towns into multiple rating territories and requires insurers to use the lower of two adjacent territory rates when a roadway divides them. To avoid extensive manual geospatial work and ensure defensible territory assignments, the insurer engaged Precisely, leveraging Spectrum Global Geocoding and the Address Fabric dataset to automate address-level territory determinations.

Precisely delivered quarterly Address Fabric feeds and geocoding that provide postal and non‑postal data for more than 1.8 million Connecticut locations, each assigned a persistent PreciselyID and mapped to the insurer’s “tax towns.” The insurer’s systems now match customer addresses to PreciselyIDs, calculate rates on both sides of dividing roads and assign the lower rate as required, and retain a historical audit trail. The Precisely solution sped up agent and broker pricing, reduced manual effort, and gave the company confidence and documentation to demonstrate compliance to the Connecticut Insurance Department.