Beazley Group, a London-based global, specialist insurance business, has selected the DecisionMaker Rating Enterprise from Honolulu-based Decision Research (DRC) to perform rating and analysis for Beazley’s U.S. specialty lines business. Beazley’s U.S. operation currently offers both admitted and non-admitted specialty lines insurance products across all 50 states.
DRC’s DecisionMaker Rating Enterprise is a powerful toolset that allows business users to model and manage rate plans. The suite integrates all the features of DecisionMaker Rating, Analyzer and Assistant products to deliver a comprehensive solution for management and roll out of rate programs as well as analysis of current books of business.
Richard Williams, Programme Manager for Beazley Group says, “We wanted a flexible SOA-based rating engine for our new U.S. Specialty Lines underwriting platform. DecisionMaker Rating gives us a callable engine in which we can model, build, deploy and manage the many rate plans we need for the U.S. market. It should help enable our actuaries and underwriting managers to react quickly to changes with minimal IT resources.”
Karen Yamamoto, DRC’s VP of product development, says: “The ease of configuring a new product with DecisionMaker Rating Enterprise makes it an ideal solution for companies like Beazley who market such unique insurance products. We enjoyed working with the Beazley staff to understand their needs, to work through a proof of concept and to help them better understand our products. We’ve enjoyed a good deal of success in the U.S. and it was gratifying to have our product and company further validated in the international insurance market.”
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