Core Software
P&C Enterprise Rating – P&C Insurance Rating Engine
Quote, Rate, and Renew Optimized and Simplified
Optimize pricing and rating process with a modern and robust insurance rating engine. P&C Enterprise Rating is the market-leading P&C insurance rating engine with model rating processes that operationalize Excel sheets and convert them into API-driven enterprise services.
Empower insurers to rapidly respond to changing market conditions with business-user-enabled self-service rate maintenance and full capabilities to support complex pricing options, including large schedules of risks exceeding 10,000 items.
P&C Enterprise Rating is specifically tailored for the property and casualty insurance industry. It enables speed-to-market and powers Majesco core solution offerings or is available as a stand-alone solution to build rating foundations to distribute to other applications and decouple ratings from legacy systems.
Cloud-Native
Utilize familiar Excel tools to construct and model rating calculations, specify underwriting rules, and define forms attachment logic, eliminating the need to learn a new platform or language.
Ultimate Control
Rest easy in knowing you have full control. Majesco P&C Enterprise Rating brings no-code tooling to business users to empower self-service for rate changes and maintenance. Eliminate the potential for user error inherent in traditional “code and load” or GUI-based rule builders.
Speed-to-Market and Optimization
Insurers of all sizes and MGAs and MGUs can respond with speed to an evolving market for pricing and rating. The result is operational optimization through automation, allowing you to allocate resources to other priorities. Majesco P&C Enterprise Rating brings speed and reliability to policy pricing and binding, with powerful predictive data analytics and implementation of statistical packages in real-time.
Powerful Bridge to Unleash Pricing and Rating
Decouple and modernize rating from your legacy systems with Majesco P&C Enterprise Rating. Connect seamlessly to your technology solutions (including policy administration, web quoting, comparative raters, front end applications, and more) while maintaining the speed and scale of any complex pricing requirements.
Reduce Risk, Increase Security
- Model rate plans utilizing Excel and automatically convert them to user interfaces and rating APIs, accessible to any calling application.
- Swift calculation speeds support concurrent processing of thousands of requests per second, ensuring accurate pricing and risk assessment.
- Microservices architecture scales horizontally to meet any demand.
Enable Collaboration and Customizable Rating Structures
- Manage version control across multiple distribution channels and policy administration platforms in one central repository.
- Configure and customize UI features including author formulas, drop-down menu options, and more with no-code tooling to maintain with minimal need for IT resources.
- Ensure compliance and track changes via our version-controlled, secure check-in/check-out process.
- Orchestration enables easy configuration of complex rating scenarios and interactions with external services, removing the need for custom code for common operations including aggregations, looping, and sequential rate calls.
Superior Technology
- Performance capabilities equipped to process complex rating scenarios and return calculations rapidly.
- Pricing impact tool feature performs “what-if” analysis of the current product as well as proposed product changes.
- Create sophisticated, multi-tiered, complex rating products, enable predictive data analytics, and implement statistical packages (e.g., statistical programming language)
- Deploy in your data center or in the cloud for complete flexibility.
- Self-validate and test different models to re-rate existing programs using built-in testing.
Featured Resources
Press
Beazley Selects Decision Research Corporation for Global Enterprise Rating
The London-based leading specialist insurer to use RS X Rating to help power its next generation of pricing tools. PHILADELPHIA, PA | November 28, 2023 Decision Research Corporation (DRC), a leading provider of enterprise software solutions for the Property and Casualty insurance industry today announced that Beazley, the leading specialist insurer headquartered in London, is working with RS…
Blog
The Need for Speed: Prompt, Accurate Rating Information is Vital to Compete
The concept of speed is increasingly becoming an important competitive factor when presenting rating information for specialty insurance risk coverage. Turnarounds of weeks or days to evaluate, quote, and bind policies are simply not acceptable in today’s hyper-competitive market. Insurance risks are diverse and ever-evolving, especially specialty insurance, which plays a crucial role in providing…
FAQ
All Majesco P&C CoreConnect portals such as shopper, insured, agent/broker, and underwriter include Majesco P&C Enterprise Rating. It can also be purchased as part of the entire Majesco P&C CoreConnect suite or as a standalone product.
Majesco P&C Enterprise Rating is Majesco’s latest P&C insurance rating engine. Born from the acquisition of Decision Research Corporation (DRC), now known as Majesco P&C Enterprise Rating, this powerful solution is designed to address complex rating and pricing requirements and provides out-of-the-box capabilities and integration for business placement into global markets that can be implemented quicker and cost-effectively to grow and scale business operations.
Majesco P&C Enterprise Rating ensures accurate pricing using predictive data analytics, statistical modeling, and automated risk assessment. By enabling insurers to configure rating rules and dynamically adjust pricing models, it helps optimize pricing strategies while maintaining compliance with industry regulations.
With built-in version control, secure check-in/check-out processes, and automated rate validation, Majesco P&C Enterprise Rating helps insurers meet regulatory requirements. Its flexible architecture ensures adherence to industry standards while allowing insurers to track and audit changes for complete transparency.
Majesco P&C Enterprise Rating seamlessly connects with policy administration platforms, underwriting systems, and web quoting tools. Its API-driven architecture enables insurers to decouple rating processes from legacy systems, improving operational efficiency and reducing reliance on outdated infrastructure.
