Decision Research Corporation (DRC), announced the release of new tools in DecisionMaker Rating which enable carriers to more precisely set policy premiums. This toolset, DecisionMaker Rating Optimizer, allows carriers to arrive at an advantageous pricing through a user-maintainable set of rules.

DecisionMaker Rating Optimizer enables carriers to break down complex rating scenarios into granular, functional units in a secure environment. Optimizer will assist business users with test case validation, input and output mappings, as well as in managing and analyzing each step in a complex rating scenario. These enhancements make the solution a powerful tool for pricing and managing large volumes and types of insurance products.

DRC has developed the capability to arrive at a premium amount that finds the optimal price for each policy based on a combination of rules that automatically adjust the rate. Actuaries can now set criteria for determining an acceptable policy premium and have DecisionMaker Rating Optimizer find the best possible price.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.