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Arrowhead Selects DRC’s DecisionMaker™ Rating for Workers Compensation
DecisionMaker Rating was selected by Arrowhead because of it’s ease of use, flexibility and its speed to market capabilities.
HONOLULU, HI – October 17, 2007
Arrowhead General Insurance Agency extended its use of Decision Research’s (DRC) DecisionMaker™ Rating product which supports the processing of Arrowhead’s Workers Compensation programs. Arrowhead, located in San Diego, California provides Workers Compensation benefits through its Cypress Point – Arrowhead General Agency Inc. division. Currently Cypress Point is writing in over 30 states. DecisionMaker Rating was selected by Arrowhead because of its ease of use, flexibility, and speed to market capabilities. In addition to the 10 personal lines of business, Arrowhead has also completed the integration of DecisionMaker Rating to six commercial lines of business within their online portal and policy management systems.
DecisionMaker Rating is a platform independent rating engine that provides a framework and the tools to allow insurance companies to quickly model and publish rate premiums as a callable web service. “A big DecisionMaker Rating selling point for us was that the system uses Microsoft Excel™ to model the rates. With our users already proficient in the use of Excel, we recognized how easy DecisionMaker Rating would be to use, and how quickly we could replicate programs for different states and different tiers. With Excel as the modeling tool, our users are able to see all the rules for algorithms and underwriting --- a nice capability that we didn’t have in the past” said Stephen Boyd, Chief Information Officer at Arrowhead. “We evaluated ‘building versus buying’ and determined that DecisionMaker Rating’s robust feature set backed by the DRC product team was a compelling reason to buy” added Boyd.
DRC’s clients have consistently been able to bring up a new product in a matter of weeks by leveraging the DecisionMaker Rating engine and the fact that they can already model rates in Excel. “By leveraging our rating technology ease of use and rate publishing features, we are able to help our customers launch new lines of business quickly and affordably.” said Karen Yamamoto, DRC’s Vice President of Product Development. “Once we have the requisite data sets and rates, our clients’ products can be in production in less than a month even when the launch involves a new line of business” added Yamamoto.
“Arrowhead is now taking DecisionMaker Rating to another level.” Boyd said, “By leveraging this technology and SOA architecture we are able to make our programs available to other insurance partners without touching the source. Our products are being quoted as part of larger offerings by our partners and we don’t have to configure them differently for these programs unless we want to.”
Stephen Korow, DRC’s Vice President of Technology added “The utilization of DRC web services has eliminated the data mapping and configuration nightmare that Arrowhead would have previously encountered when they started to grow their partnering program. Having the capability to expose their rating services through the utilization of the DRC Rating Services framework enables our clients and their partners to make bundled offerings without a large upfront set up cost and build requirement.”
For more information about the Arrowhead integration the Arrowhead case study may be downloaded from the DRC website at http://www.decisionresearch.com/casestudies.
About Arrowhead General Insurance Agency
Arrowhead General Insurance Agency, Inc., headquartered in San Diego, is an independent national program manager for commercial, personal and specialty lines and is one of the largest privately held general agencies in the United States. Arrowhead’s partnerships with strong insurance carriers provide stability and capacity for its vast distribution network. The foundation for success at Arrowhead is entrepreneurial spirit, which encourages opportunity, innovation and growth. www.ArrowheadGrp.com .
About DRC
DRC is an experienced software development company that repeatedly delivers and successfully implements software solutions to most lines of businesses within the P&C insurance community. From startups to large clients in excess of $1Billion in written premium, clients have trusted DecisionMaker for rating, quoting, billing, policy administration and claims. Our solutions have repeatedly provided our customers with a substantial return on their investment. For more information about DRC, call us or visit www.decisionresearch.com.
For more information, contact:
DRC
Rick Young
(808) 949-8316 ext. 120
info@decisionresearch.com
Arrowhead General Insurance Agency, Inc.
Christina Eagle, Corporate Communications
Tel 619.881.8655
CEagle@ArrowheadGrp.com