PHILADELPHIA, Aug. 16, 2011 /PRNewswire/ -- DRC, a rating and policy processing software provider to the property & casualty insurance industry, announced today that DecisionMaker™ Rating Enterprise was recently put into production by ICW Group Insurance Companies as part of their Rating Engine Replacement Project. DecisionMaker Rating Enterprise replaced a legacy rating engine which had become difficult to update. DecisionMaker Rating Enterprise makes it easy for users to maintain and bring up new lines of business. Generated services are then consumed by ICW Group's cloud architecture and its policy administration system.
DecisionMaker Rating Enterprise delivers a complete solution for automated rate program rollouts and in-depth analysis. DecisionMaker Rating Enterprise utilizes Microsoft Excel® for initial modeling of rate plans by the actuary or product manager. This allows them to do their work using tools they are already comfortable with so that they can immediately be productive using the new tools.
"DecisionMaker Rating Enterprise allows our Actuaries and Product Managers to convert rules and rating plans they build directly in Excel into web services. This reduces rollout time for new products and maintenance of existing products, and gives us the technology to scale where Excel does not." - Paul Zamora, senior vice president of Workers' Compensation Underwriting at ICW Group.
"DRC is very pleased that its advanced DecisionMaker Rating Enterprise solution is forming such an integral part in the re-engineering of ICW Group's Workers Compensation policy administration system. More than just a rating engine, DecisionMaker Rating Enterprise provides tools which allow companies like ICW to become more efficient and innovative in the creation and maintenance of their products." - Karen Yamamoto, President, DRC
About ICW Group
Privately held ICW Group Insurance Companies represents a group of multi-line property and casualty insurance carriers providing Workers' Compensation, Earthquake, and Personal Automobile insurance. Its member companies consist of Insurance Company of the West, Explorer Insurance Company and Independence Casualty and Surety. Based in San Diego, Calif., ICW Group continues to transform itself into an insurance industry leader dedicated to meeting the needs of its agents and the people and companies they insure. More information is available at www.icwgroup.com.
DRC is a highly experienced and trusted software development company that consistently delivers and successfully implements software solutions to support a wide range of P&C insurance industry lines of business. From small startup insurers and MGAs to insurers with written premium in excess of $2 Billion, clients choose DecisionMaker for their rating, quoting, policy administration, billing and claims system needs. For more information about DRC, call us or visit www.decisionresearch.com.