Decision Research Corporation (DRC)

DRC Solutions, provided by Decision Research Corporation (DRC), are technology solutions designed to assist insurance carriers, managing general agents (MGAs), and brokers in transforming insurance products from concept to production. These solutions encompass rating, quoting, policy administration, billing, and claims processing. DRC Solutions cater to companies of various sizes, from small enterprises to large corporations, and are utilized by professionals and industries in the insurance sector.

Key Features

Rating: According to the vendor, DRC offers the RS X Rating platform, a cloud-based rating engine that supports any line of business. It is claimed to deliver industry-leading performance, processing millions of rates per hour. The platform includes a web-based administration console, RS X Product Studio, for creating, maintaining, and promoting product services.

Quote: DRC's quote automation solution, DRC Quote, is said to enable full automation and unlimited flexibility in the quoting process. It streamlines and validates data to expedite workflows for specialty, personal, and commercial carriers. DRC Quote provides a comprehensive 360-degree view, enhancing accuracy and expediting cost-effective claim closure.

Policy: DRC Policy is a cloud-native platform with feature-rich processing capabilities designed for P&C insurers. According to the vendor, it allows for the modeling and maintenance of any insurance product without requiring users to learn a new user interface. The platform is built with a decentralized, modular architecture for scalability and ease of maintenance.

Billing: DRC's billing solution provides comprehensive functionality to meet complex billing requirements. It includes robust commissions and agency data storage, eliminating the need for separate agency tracking software. Business users have control over billing rules, such as payment plans, fees, taxes, commissions, and agency hierarchy, according to the vendor.

Claims: DRC's claims solution is designed to enhance efficiency and accuracy, facilitating faster claim resolution. It offers features such as multiple referrals and workflows, direct policy entry capability, and call center support. The solution provides extensive adjuster controls, exposure tracking, and comprehensive notes capabilities, according to the vendor.

Portals: DRC's platform includes user-friendly portals for shoppers, insureds, agents/brokers, and underwriters. These portals provide 24/7 access from any browser, enabling continuous administration to the entire user community. According to the vendor, the shopper portal offers anonymous customer quick quotes, straight-through processing, real-time document printing, and immediate payments.