DRC Explodes Large Risk Pricing Benchmarks
DRC's rating engine, RS X Rating, can now processes over 12,000 risk items on a single policy with multi-pass, multi-peril, and multi-layer calculations in 19 seconds.
PHILADELPHIA, Sept. 21, 2022 /PRNewswire/ -- Decision Research Corporation (DRC), the leading provider of cloud-provisioned enterprise solutions for the P&C and Specialty insurance industry, is proud to debut the latest upgrade to its RS X Rating engine this week at the InsureTech Connect Conference in Las Vegas. The upgrade provides an overwhelming increase in risk processing capacity, leading to faster quote response times and happier brokers and clients. The rating update is included in the DRC Insurance Platform's most recent release.
RS X Rating's increased capacity for risk processing was developed with the participation of Excess & Surplus (E&S) and Specialty carriers and has their unique processing needs in mind. A recent benchmark test on the upgraded rating engine processed over 12,000 property risks on a sigle policy in just 19 seconds. Large carriers can now take advantage of this new capability by rating thousands of risk items on a single policy with multi-pass, multi-peril, and multi-layer calculations.
Rob Whitton, DRC's VP of Business Development says, "Specialty carriers have often relied on manual processing for large risk schedules, greatly increasing the time from submission-to-quote. This upgrade allows skilled underwriters to focus their time on the complex risks that require expert human review. Pricing teams can price every item on large schedules, instead of averaging or making general assessments of large risks. Underwriting teams spend less team prepping large risks and begin their review more quickly. This results in a better broker experience and higher conversion rate."
To learn more about this RS X Rating upgrade, visit www.decisionresearch.com or visit DRC at ITC Vegas at Booth 2969 this week!
View original content to download multimedia:https://www.prnewswire.com/news-releases/drc-explodes-large-risk-pricing-benchmarks-301629857.html
SOURCE Decision Research Corporation
Special Panel Discussion and Reception: Single Pane of Glass - Managing the Evolution to E-SIM
Imagine A World Without Hold Times â€“ An AI Optimist Explains
Maximizing Revenue with White Label Programs