DRC Explodes Large Risk Pricing Benchmarks

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Sep 21, 2022, 11:00 ET

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 single 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!

About DRC
DRC provides innovative, cloud-based, enterprise solutions to P&C insurance companies looking to boost their business development efforts, reduce administrative overhead, and accelerate speed-to-market for their products through automation. RS X Rating, DRC's no-code rating engine, gives actuaries the ability to configure powerful automation functions without IT assistance, and to price risks and model products, no matter how complex, all through a familiar Microsoft Excel^® interface. DRC's flagship product is the DRC Insurance Platform, a full-service policy administration system, including portals, quoting, billing, claims, and advanced analytics, powered by RS X Rating, and engineered to streamline internal processes and empower business users within a secure and robust enterprise ecosystem. DRC has remained committed to total customer satisfaction throughout its 50-year history, and its clients, running the gamut of size and scope from large global carriers to regional start-ups, continue to rely on DRC's trusted solutions to manage over $7 billion in written premium. To learn more about DRC, visit www.decisionresearch.com.

SOURCE Decision Research Corporation