LAS VEGAS, Oct. 2, 2017 /PRNewswire/ -- Decision Research Corporation (DRC), the software solutions provider for the P&C insurance industry, today announced at InsureTech 2017 the immediate availability of its new Rating Engine and Analyzer solution RS X. The new platform derives its name from its role as the 10th generation of the industry-leading enterprise solution, now with entirely new code, advanced automation and functionality and unprecedented speed.
DRC RS X technology offers the fastest, most accurate and cost-effective path to transform insurance products from concept to production. Starting with Excel®, RS X allows analysts, actuaries and product managers to dramatically accelerate the rating development cycle, enabling users to rate, quote and bind faster than ever before.
"RS X is a next generation new product, with a much smaller and efficient technical footprint designed to give business users improved results," noted DRC President Karen Yamamoto. "Our customers told us they were looking for a fast, flexible and more secure way to automate and advance their rate calculation process. RS X Rating offers all this and more, bringing P&C personal, commercial and specialty lines unprecedented versatility in bringing new products to market with improved accuracy and dramatic cost savings over traditional 'load and code' processes."
The new rating engine represents the latest example of DRC developing breakthrough technologies. From the first release seventeen years ago, DRC's rating engine and its components have advanced the industry state of the art for insurance ratings. Today, customers using the RS X Platform enjoy a 90% savings in labor costs and time reduction when going to market.
Cloud-ready RS X runs natively on Windows and Linux to process new programs faster, and features enhanced testing capabilities and metrics for more precisely calibrated results. The new RS X Analyzer now offers a modern user interface, multiple configurable output options and the ability to compare and run multiple programs on one platform.
"The code is entirely new, harnessing the power and efficiency of Go, the programming language developed at Google, but that's simply a means to an end," added Les McElhaney, VP of Product and Technology at DRC. "The new system brings a logarithmic vs. incremental increase in speed and performance: it's a 100 times faster than before. This allows our customers to model, analyze and implement rating changes ahead of the market vs. reacting to it as they face even more rapidly changing and emerging market opportunities."
RS X enables DRC to dynamically configure software solutions across portal, rating, quoting, billing, policy administration and claims needs for P&C insurers of all sizes.
DRC specializes in providing technology solutions to the Property & Casualty (P&C) insurance industry. Customers rely on DRC technologies in thousands of programs across all 50 states as well as an expanding base of international customers. DRC's solutions work with equal efficacy in small specialty startups and large carriers alike with total written premium across clients in excess of $5 billion. All clients receive market leading solutions with unrivaled implementation expertise and our commitment to deliver to their complete satisfaction. For more information about DRC, visit www.decisionresearch.com. Connect with DRC on Twitter (@DRCNews) and Facebook (fb.com/DecisionResearch).
SOURCE Decision Research Corporation