ICW Group Implements DRC Rating Engine

ICW Group Insurance is using DecisionMaker Rating Enterprise, a product of DRC, a rating and policy processing software provider to the P&C insurance industry. DRC says DecisionMaker will be used as part of ICW’s Rating Engine Replacement Project, and will enable users to maintain and bring up new lines of business. Generated services then will be consumed by ICW Group’s cloud architecture and its policy administration system.

DRC says DecisionMaker delivers a complete solution for automated rate program rollouts and in-depth analysis, using Microsoft Excel for initial modeling of rate plans by the actuary or product manager. This allows the work to be done using tools they are already comfortable with, so they can be productive immediately 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,” said Paul Zamora, senior VP of workers’ compensation underwriting at ICW Group. “This reduces rollout time for new products and maintenance of existing products, and gives us the technology to scale where Excel does not.”