The Donegal Insurance Group consists of Donegal Mutual Insurance Company, Atlantic States Insurance Company, Southern Insurance Company of Virginia, Le Mars Insurance Company, The Peninsula Insurance Company, Peninsula Indemnity Company, Sheboygan Falls Insurance Company, Southern Mutual Insurance Company and Michigan Insurance Company.
Impact of IDEA
I use IDEA every single day, I've been using every day for 3 years. It has changed my quality of work, as well as, how quick I can turn it around. IDEA has become extremely important in what I do, it's interchangeable with my position. IDEA impacts the executives in the C-Suite by the money savings, the time savings that we have on audits that we do. The way that the analysis comes through at the end. The effectiveness of the work we do, as well as, the efficiency in which we do it is extremely beneficial to the C-Suite.
15 years ago we had a project that just couldn't get off the ground. The Vice President of one of the departments wanted to analyze some of the information and he kind of gave up on it. At the time, I had only been with the company a year and a half, when he asked the question he seemed frustrated that he wasn't able to get the answers that he was looking for. I was able to dive in with IDEA and get them the answers that they wanted to questions they've been asking for 15 years. Secondly, they know they can ask anything related to their department, and we can pull together an analysis for them very quickly and effectively. Then we can take that analysis and put that into practice for reoccurring audits.
In one project, we made sure that our costs for third-party providers we're calculating properly with the parameters of the contracts, making sure that we were being billed properly. We've saved hundreds of thousands of dollars in how we use the product now - making sure these contracts were billing us properly.
Achieving Time Savings
Just a couple months ago, we had a project that took our accounting and internal audit team about 400 hours. I was able to automate the process and ended up saving 2 weeks on the project. It's now set up to be a reoccurring audit that will be done in a couple of days.
Professional Perks of Using IDEA
For me, IDEA has added value professionally in my career. It has taken me from an entry-level position at Donegal and within 3 years, I'm now in a management level position. IDEA has made that happen for me. Like I said, I use IDEA every day and will continue to use every day. Our executives find huge value in IDEA, it's able to uncover anomalies that have been in place for decades, has made my position invaluable.