19DECEMBER - JANUARYmanagement conversations with data scientists and underwriters to showcase every exposure and nuance found in the research. Ultimately, that data allows C3 to negotiate better for clients because the underwriters understand the risk better.C3 The Answer, on the other hand, is a dynamic database built to analyze exposures, show real-time loss measurements, and provide the holistic data necessary to help clients make better decisions. C3 The Answer compares over 36 data points for a company against actual litigation and eliminates the fundamental flaw in D&O insurance ­ hypothetical data ­ to predict what limit the client should purchase. "This is put into practice daily with the Life Science division and D&O Insurance where companies are spending more than ever on D&O premiums," explains Milligan. "C3 The Answer includes comprehensive, industry-specific information and tells us there are several other factors that impact the outcomes of litigation, many of which are unknown and unmeasured by hypothetical data." Using the technology, C3 can answer the complex and nuanced questions about a business and how much it should spend on D&O Insurance using dismissal and settlement rates and average and medium settlements by industry. One practical example is a national broker returned a 40 percent increase to a client, and C3 used data from C3 The Answer to renew at 15 percent, which saved the company hundreds of thousands of dollars. In total, C3's clients have saved millions of dollars making better D&O purchasing decisions. C3 is recognized as a 2021 Top 10 Insurtech Startup for its leadership in innovation and development of two groundbreaking technology solutions in C3 Profile and C3 The Answer.It All Starts with the "Discovery"...C3 steers ahead of other players in the market due to its extensive discovery phase, wherein the company invests significant time and resources to understand the clients' business operations and their coverage requirements. C3's typical client engagement process begins with meeting the client's team to dive deep into their work culture. The company leverages its out-of-the-box video production services to produce engaging insurance commercials, which are included with C3's pricing requests to underwriters. The process is kick-started with C3 interviewing the entire leadership team and other employees to gather their insights into the organization's work environment, its uniqueness, and learning everything they do. In this way, C3 breathes life into the special risk factors associated with the client organization and ensures that clients participate in writing the narrative impacting their insurance cost and coverage.The next step involves the forensic analysis of the current insurance/risk management programs of the client. C3's experts go through over 300 quality assurance marks to cross-reference how a client's insurance policies work and help them understand how their risk management program is structured. C3 then goes ahead to build a new program for the client. As part of its comprehensive service, C3 provides claims advocacy, nurse triage services, property risk management, safety & loss prevention programs, employee training videos, underwriting packages, and more. Moving ahead, the company envisions growing exponentially and enhancing its solutions continually. "We aspire to create a legacy for a lifetime in San Diego and Southern California so that when people think insurance, they think of us on the same level as they think of Qualcomm when it comes to technology," notes Reid. Mike MilliganC3 is a regional powerhouse, private and nimble enough to innovate and create proprietary technology that gives us an advantage with underwriters on behalf of our clients
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