Beazley USA Taps DRC’s RS X Rating to Migrate Their Systems to the Cloud
Press Release
Beazley selected DRC as their primary technology partner to further digital first goals and migrate their systems with the cloud-provisioned foundation of the DRC solutions hosted in Microsoft Azure.
February 20, 2023
Philadelphia, PA – February 22, 2023, Decision Research Corporation (DRC), the leading provider of cloud-provisioned enterprise solutions for the P&C and Specialty insurance industry, announced the roll out of RS X Rating to support Beazley’s digital advancement initiative to move their full enterprise rating to the cloud.
RS X Rating allowed Beazley to separate their rating processes from servicing. This enabled them to quickly react/adjust to market requirements by making rate changes and product adjustments that met broker expectations. The digital shift to a cloud environment also created a more seamless and frictionless implementation of partner integrations.
To enable growth and distribution of their business, Beazley realized their on-premises servers and software were holding back opportunities. To achieve their digital first goals, they identified those servers were a thing of the past and it was essential to move to the cloud. Beazley selected DRC as their primary technology partner to further this initiative with the cloud-provisioned foundation of the DRC solutions hosted in Microsoft Azure.
“Despite internal anxiety of moving a core component to the cloud, the actual deployment was basically a non-event. DRC was instrumental in helping Beazley modernize and simplify our digital processes. The RS X rating engine was an integral part of the toolkit that enabled zero touch broker interactions and submissions,” said Samata Tummala, Head of Technology (USA and Canada) at Beazley. “This seamless transition in the sales and business processing function positioned Beazley as a forward-thinking insurer and helped us earn the business of more brokers.”
“This milestone achievement helps advance Beazley’s Technology strategy of moving critical systems to cloud infrastructure,” said Libby Davey, Global Chief Information Officer at Beazley. “The integration flexibility and scalability help Beazley expand distribution networks and provision infrastructure more nimbly.”
“DRC is pleased to be able to once again partner with Beazley, helping them meet their growth initiatives to grow their business” said Karen Yamamoto, CEO and President at Decision Research Corporation. “We look forward to continuing to work with Sam and her team to further enable Beazley’s growth and business objectives,” continued Yamamoto.
About Majesco
Majesco is the partner P&C and L&A insurers choose to create and deliver outstanding experiences for customers. We combine our technology and insurance experience to anticipate what’s next, without losing sight of what’s important now. Over 350 insurers, from greenfields and startups to some of the world’s largest insurers, rely on Majesco’s SaaS platforms solutions of core, data, analytics, digital, and rich ecosystem of partners to create their next now.
As an industry leader, we don’t believe in managing risk by avoiding change. We embrace change, even cause it, to get and stay ahead of risk. With 900+ successful implementations we are uniquely qualified to bridge the gap between a traditional insurance industry approach and a pure digital mindset. We give customers the confidence to decide, the products to perform, and the follow-through to execute.
For more information, please visit www.majesco.com and follow us on LinkedIn.
About Beazley
Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, North America, Latin America and Asia. In 2021, Beazley underwrote gross premiums worldwide of $4,618.9 million.
Beazley manages seven Lloyd’s syndicates; all Lloyd’s syndicates are rated A by A.M. Best.
Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.
Beazley’s European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber liability, property, marine, reinsurance, accident and life, and political risks and contingency business.