DTRIC Insurance Company, a Hawaii Property & Casualty Insurance Company has selected DRC’s DecisionMaker™ Extended Lines Policy Administration System to process its newly expanded commercial insurance lines of business. DTRIC currently offers personal auto and home insurance as well as workers compensation benefits and limited commercial lines in Hawaii.
DTRIC will broaden their commercial lines offerings throughout the state of Hawaii this year.“With our mid-term change in plans it is exciting that DRC’s Extended Lines product will allow us to place our new commercial lines business into production with significant efficiency gains, at about the same time as we write our first contract.” said Bill Marr, COO of DTRIC. “Speed to market is critical when new products are tested in this marketplace and DRC will deliver that speed. We are delighted to work with such an experienced local partner for these very important product offerings” added George Lucas, V.P. of Technology for DTRIC.
The functionality of DecisionMaker Extended Lines is so flexible that insurance companies can have a new system in production in just a few months. “By leveraging our rating technology and existing systems we are able to help our customers launch new lines of business quickly, affordably and with minimal risk” 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” added Yamamoto.
DRC’s DecisionMaker Extended Lines Policy Administration System extends DRC’s DecisionMaker Policy Administration System that already supports integrated and/or stand alone modules such as quoting, rating, complete policy issuance, claims, billing to Stat reporting. Because it is already integrated with DRC’s DecisionMaker Suite, companies can affordably launch a new business in weeks as opposed to months. “It doesn’t matter what channel DRC’s clients are servicing or what new line(s) of business they want to offer. Extended Lines will integrate with a mature, robust and scalable policy administration system while simultaneously allowing the client to face the realities of their business without worrying about expensive programming initiatives that will delay the speed to market. This will create competitive advantages for DRC’s Extended Lines customers ” said Stephen Korow, DRC’s Vice President of Technology.