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

DecisionMaker Rating Optimizer enables carriers to break downcomplex rating scenarios into granular, functional units in asecure environment. Optimizer will assist business users with test case validation, input and outputmappings, as well as in managing and analyzing each step in acomplex rating scenario. These enhancements make the solutiona powerful tool for pricing and managing large volumes and types ofinsurance products.

DRC has developed the capability to arrive at a premium amountthat finds the optimal price for each policy based on a combinationof rules that automatically adjust the rate. Actuaries cannow set criteria for determining an acceptable policy premium andhave DecisionMaker Rating Optimizer find the best possibleprice.

“DecisionMaker Rating Optimizer solves complex business problemsby leveraging existing company Excel expertise” says Stephen Korow,vice president of technology at DRC. “Actuarial and businessanalysts can assemble stacks of spreadsheets which model complexbusiness rules and rating calculations which are utilized as theblueprint for the generation of a complete rating service. DecisionMaker Rating Optimizer consumes the generated service andapplies a library of algorithms to iteratively analyze the ratingcalculation. A goal-seeking approach can be applied to theservice to arrive at the desired rate.”

“DecisionMaker Rating has historically always provided theability to empower business users to manage rate and rules changesacross multiple lines of business with minimal IT assistance,” saysKaren Yamamoto, president of DRC. “These additional toolsallow business units to support and test the most complexcalculations and speed the process of developing new rates and putthem into production for complex lines of business.”