The five key challenges facing Property and Casualty insurers today are:

  • Growing their business profitably and opening new revenue streams
  • Implementing business changes to their systems in an agile and timely manner
  • Improving operational efficiency
  • Reducing expenses
  • Keeping in regulatory compliance

There are many ways to address these challenges. One important way is to keep up-to-date with changes to ISO-based insurance programs. With about 4,000 ISO circulars published each year, this can be a challenge especially if your company is using a manual process which can be slow and expensive.

But technology is now available to transform this work.

Delphi Accelerator – Insurance Product Development Software by Delphi Technology to Complement ERCTM.

Delphi Accelerator is a new class of software that facilitates the process of handling ISO circulars using ERC, and which includes the functionality to support every step of the work from receipt of data to filing and application of changes to the Policy Administration software.

The design objectives of Delphi Accelerator were written to work with the strengths of ERC and provide a new and holistic approach to the maintenance of ISO and carrier proprietary products. The objectives came from an examination of what happens today in dealing with circulars and the idea that the whole process from end to end needed to be addressed.

  • The software had to provide a “sandbox” or business-friendly, workbench that allowed the insurer to review the new data and easily compare it against what was currently in use at the company, so that the changes introduced by the circular could be easily measured.
  • An insurer’s competitive advantage can depend on how it deviates from ISO. The software had to enable changes to the ERC data to allow for deviations that were required by the company. The deviations should be tracked for reference. And as updates are received, the deviations should be easy to inherit to the latest ISO circular for that line and state.
  • ISO ERC content should be presented as business-friendly coverages, forms, rates, rules, and domain tables, etc. The software would need to represent the carrier’s insurance products as they are structured and marketed.
  • An “Impact Analysis” feature should allow the product manager to run a new filing against the policies in force or a data warehouse so that the effect of the change could be understood. This allows the product manager to take action and seek internal approval from stakeholders before the filing is submitted for approval.
  • The software would have to define and control the workflow associated with the process from the receipt of ERC data through to applying changes to the PAS, and would include parties outside of the company as well as internal staff. Email alerts would be automated as a filing was to be moved from one party to another in the workflow. A calendar view would be available to allow and easy reference to the status of each in-process filing, benefiting product management staff and stakeholders alike.
  • The system should include all components of the filing – forms as well as rating elements and the circular document itself for ease of reference. And the system should support searches and filters to enable users to get at filings for any issue company, line of business, or state as efficiently as possible.
  • The system should allow the filing to be prepared, and for states that accept SERFF filings, the interface to that software should be available.
  • The system would be designed to work with any PAS or point-of sale software capable of consuming electronic data. The export of the filing to the PAS would need to be configurable and flexible to work with the electronic interface capabilities of any PAS. It would be comprised of two logical layers, (1) a “canonical” layer which is understood natively by the Delphi Velocity products (e.g., PAS, Rating Service, or Impact Analyzer) and (2) a “adaptive” layer which transforms the export filing data into the native formats understood by the respective 3rd party PAS.
  • The software should be able to support any number of policy issuing companies, states, lines of business, and insurance products.

Benefits of Delphi Accelerator

  • Comprehensive functionality. Easily the biggest benefit in using Delphi Accelerator is that it deals FULLY with what is involved in the real world in handling an ISO circular. It was built with an understanding of the need to control the workflow and to be able to analyze, change and model the data before it can be filed. The business of importing the data into a PAS is an important piece of the solution, but without the ability to manage what happens before that is possible, it is not anywhere as powerful a solution.
  • Accuracy and Quality. With the ability to directly import data from ISO ERC and pass it on electronically to a PAS without any re-entry, there is a saving in time and an improvement in accuracy. And the ability to see deviations, easily highlight them against base ISO rating content, the impact modelling available all add up to providing the user with the business-user friendly tools to do the best work possible. And having information on all circulars that are in process allows the user to more easily control the workload.
  • Faster and cheaper. The value added by electronic filing, support of analysis, impact measurement, workflow management, etc. should contribute to an even better savings experience.
  • Timing. This has two impacts – the ability to stay in compliance, and the ability to market products ahead of the competitors, or with the deviations that have been identified to give a competitive advantage. It is impossible to put a value on the opportunity cost of not being agile.
  • Flexibility. Delphi Accelerator allows the user to create filings that correspond to his insurance products through easy selection of coverages and attributes. And since the software was designed with the intention of being able to pass data to any Policy Administration System the mapping of data is configurable so that changes to the PAS – or installing a replacement – can be accommodated easily.

For more information on Delphi Accelerator, visit

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