PHILADELPHIA, Jan. 14, 2021 /PRNewswire/ -- Decision Research Corporation (DRC), a leading provider of enterprise software solutions for the property and casualty (P&C) insurance industry, today announced that Tokio Marine HCC, a leading specialty insurance group, has successfully implemented RS X Rating and DRC Rater across a number of its domestic and international product lines. This implementation has already enabled Tokio Marine HCC to rapidly configure multiple new products, including global travel, event cancellation and short-term rental host coverages.
"As a company, we are continuously seeking out new and cutting-edge technologies to boost productivity, improve efficiency and provide quicker turnaround times that will ultimately benefit our insureds. With this software, we will be able to automate our legacy pricing tools, which will allow us to deliver on our best-in-class products faster than we have before," said Susan Rivera, Tokio Marine HCC's Chief Executive Officer.
Tokio Marine HCC leverages RS X Rating to transform existing Microsoft® Excel® workbooks into an automated and secure enterprise-rating solution. Since DRC's automation easily integrated with existing enterprise policy systems, Tokio Marine HCC's divisions gained increased speed and pricing flexibility to react to market conditions and new distribution channels. All DRC solutions are available with an intuitive front-end interface and can also be seamlessly accessed through customer application programming interfaces.
"We chose to work with DRC because of their best-in-breed rating technology and its ability to integrate into our strategic modularized platform," said Kent Black, CIO Enterprise Applications at Tokio Marine HCC. "Our business users, like our actuarial and underwriting teams, remain empowered to configure their own rating and rules as they always have, and the DRC solution provides them with the extra value of version control and microservices to the enterprise."
"We are delighted Tokio Marine HCC has integrated RS X Rating into their technology platform and look forward to continuing working with them to find even more ways to fuel their operational excellence and profitable growth through technology-enabled automation and efficiency," said Karen Yamamoto, DRC's President and Chief Executive Officer.
About Tokio Marine HCC
Tokio Marine HCC is a member of the Tokio Marine Group, a premier global company founded in 1879 with a market capitalization of $30 billion as of September 30, 2020. Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, Mexico, the United Kingdom and Continental Europe. Tokio Marine HCC's major domestic insurance companies have financial strength ratings of "A+ (Strong)" from S&P Global Ratings, "A++ (Superior)" from A.M. Best, and "AA- (Very Strong)" from Fitch Ratings; its major international insurance companies have financial strength ratings of "A+ (Strong)" from S&P Global Ratings. Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company. For more information about Tokio Marine HCC, please visit www.tokiomarinehcc.com.
About Decision Research Corporation
For nearly half a century, DRC has provided powerful and trusted software solutions to the Property & Casualty (P&C) insurance industry. Large carriers, small start-ups and managing general agents (MGAs) alike in the United States and globally deploy DRC's SaaS and onsite solutions to manage total written premium in excess of $7 billion. DRC's web-based administration system expedites implementation, lowers costs and simplifies maintenance across insurance products. DRC's industry leading RS X Rating allows business users who price risks and model products in Microsoft® Excel® workbooks to create a version-controlled, web service process throughout the entire insurance ecosystem with minimal need for any programming resource. All DRC clients receive market-leading solutions, expert implementation and its commitment to deliver to their complete satisfaction. For more information about DRC, please visit www.decisionresearch.com.