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DecisionMaker™ Rating Enterprise solution to perform rating and analysis for Beazley’s US Specialty Lines business.
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HONOLULU, HI – January 7, 2009
Beazley Group, the London-based global, specialist insurance business, has selected Decision Research’s (DRC) DecisionMaker™ Rating Enterprise solution to perform rating and analysis for Beazley’s US Specialty Lines business. Beazley’s U.S. operation currently offers both admitted and non-admitted Specialty Lines insurance products across all 50 states.
DRC’s DecisionMaker Rating Enterprise is a powerful toolset that allows business users to model and manage rate plans. The suite integrates all the features of DecisionMaker Rating, Analyzer and Assistant products to deliver a comprehensive solution for management and roll out of rate programs as well as analysis of current books of business.
Richard Williams, Programme Manager for Beazley Group said, “We wanted a flexible SOA based rating engine for our new US Specialty Lines underwriting platform. DecisionMaker Rating gives us a callable engine in which we can model, build, deploy and manage the many rate plans we need for the US market. It should help enable our actuaries and underwriting managers to react quickly to changes with minimal IT resources.”
Karen Yamamoto, DRC’s Vice President of Product Development, said: “The ease of configuring a new product with DecisionMaker Rating Enterprise makes it an ideal solution for companies like Beazley who market such unique insurance products. We enjoyed working with the Beazley staff to understand their needs, to work through a proof of concept and to help them better understand our products. We’ve enjoyed a good deal of success in the U.S. and it was gratifying to have our product and company further validated in the international insurance market.”
About Beazley
Beazley Group plc (BEZ.L) is the London-based parent company of global, specialist insurance businesses with operations in the UK, US, France, Singapore and Hong Kong. Beazley manages two Lloyd's syndicates (Syndicate 2623 and Syndicate 623) with aggregate underwriting capacity in 2008 of £814m (US$1.6bn).
Both syndicates are rated A by A.M. Best. In the US, Beazley underwriters focus on writing specialist insurance products in the admitted market, backed by Beazley Insurance Company, Inc., an admitted carrier in all 50 states; and surplus lines risks, backed by the Beazley syndicates at Lloyd's. Beazley Insurance Company, Inc. is rated A by A.M. Best.
Beazley USA is the market leader in many of its chosen lines, which include specialty, commercial property, marine, and reinsurance.
About DRC
DRC is an experienced software development company that repeatedly delivers and successfully implements software solutions for the P&C insurance industry. 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.
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For more information, contact:
DRC
Rick Young
(808) 949-8316 ext. 120
info@decisionresearch.com
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