Software facilitates CPP building.
Press Release Summary:
DecisionMaker(TM) Suite enables insurance carriers to package multiple coverage parts and apply customized package discount factors to their policies. Fully integrated support for Commercial Package Policies (CPPs) allows separate mono-line policies to be consolidated into one policy, without any no duplicate data, in minimal number of keystrokes. All standard policy administration functions available for mono-line policies can be applied for CPPs.
Original Press Release:
Build Commercial Package Policies (CPP) with DecisionMaker(TM) Suite
CPP added to the policy administration suite and in production at DTRIC Insurance
PHILADELPHIA -- Decision Research Corporation (DRC), a rating and policy processing software and services solution provider to the property & casualty insurance industry, announced today its DecisionMaker(TM) Suite now supports Commercial Package Policies. Insurance carriers using DecisionMaker Suite are able to package multiple coverage parts and apply customized package discount factors to their policies through the DecisionMaker system. Support for CPP is fully integrated into DecisionMaker Suite allowing separate mono-line policies to be consolidated into a single policy (with no duplicate data) in a few simple keystrokes. All standard DecisionMaker Suite policy administration functions currently available for mono-line policies can be applied for CPP policies.
"The launch of Commercial Package Policy further demonstrates our configuration instead of customization approach to insurance product management within DecisionMaker Policy Administration. When working with new or existing Packages, business units are able to select existing lines or add new lines as needed. This latest feature gives our customers a cost effective way to introduce new packages to the market using DecisionMaker Suite," noted Karen Yamamoto, President of DRC.
DTRIC Insurance has recently implemented DecisionMaker's Commercial Package Policy to supplement the commercial lines of business already in production at DTRIC which include Commercial Auto/Truckers, Workers Compensation, General Liability and Commercial Fire; all processing under a single DecisionMaker Suite application. DTRIC is also able to add coverages for lines still processed by their legacy systems to their CPP policies providing DTRIC with significant flexibility in pricing and servicing policies.
"The addition of CPP to our existing DecisionMaker Suite application went very smoothly and DRC was there all the way to ensure that our staff was properly trained and able to issue CPP polices immediately after training completed. The ability of DecisionMaker CPP to reconcile and eliminate occurrences of redundant data across the underlying lines of business coverage parts has greatly enhanced our processing efficiency," said DTRIC's Garret Yoshimi, VP and CIO.
About DTRIC
DTRIC Insurance Company, Limited (DTRIC) specializes in Commercial Property and Casualty including Workers Compensation insurance as well as Personal Automobile, Homeowners, Renters and Umbrella insurance. DTRIC is committed to providing innovative, value-added insurance products and services throughout Hawaii. For more information about DTRIC Insurance, visit www.dtric.com.
About DRC
DRC is a highly experienced and trusted software company that consistently delivers and successfully implements solutions to support Personal, Commercial, and Specialty lines of business in the property & casualty insurance industry. From the small startup insurers and MGAs to insurers with written premium in excess of $2 Billion, DRC clients have chosen DecisionMaker for their rating, quoting, billing, policy administration and claims needs and an impressive return on investment. For more information about DRC, call us or visit www.DecisionResearch.com.
