Insurance technology. Thoughtfully engineered. Insurance Technology Solutions That Work As Hard As You Do

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1 Insurance technology. Thoughtfully engineered. Insurance Technology Solutions That Work As Hard As You Do

2 DRC Insurance Solutions End-to-end functionality to support any insurance product and scale with your success Proven performance across the complete policy lifecycle

3 Built on Decades of Insurance Experience The DRC digital risk center provides insurance entities of all sizes end-to-end functionality that s as versatile as it is powerful. Our integrated solution combines RS X Rating, our industry-leading core platform, with comprehensive policy administration functionality to provide Quote, Policy, Rating, Billing, Claims, Agency Administration, advanced analytics and pre-configured third-party integrations. With quote-to-claims throughout the entire insurance policy lifecycle, our policy suite increases staff productivity and expedites speed to market. We create our software solutions to serve the diverse needs of agents, shoppers, insureds and back office operations staff. That s why our software processes billions in written premium each year. With 24-hour accessible web-based quoting and a robust cloud-based policy administration system, we remain committed to stand at the forefront of traditional and emerging needs to advance the success of our customers. 3

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5 Flexible, Adaptive Policy Administration Across Quote, Policy, Rating, Billing, Claims and Agency Administration, the DRC platform furnishes Adaptive, scaleable technology that provides complete policy administration for personal, commercial and specialty insurance. With dynamic underwriting portals, insurers of all sizes enjoy easy access to powerful functionality tailored to service their customers unique needs. QUOTE You ve never quoted like this before. Full automation. Unlimited flexibility. POLICY No matter how complex or how many exceptions, our policy processing has you covered. RATING All-new RS X Rating Platform built for business strength, performance and reliability. BILLING Process one payment or one million with equal security, accuracy and efficiency. CLAIMS Expert workflows and extensive controls make your claims processing effortless. AGENCY ADMIN Producers come and go. Manage, document and verify eligibility for every single one. 5

6 MULTIPLE MODULES. ONE UNIFIED SYSTEM. Our digital risk center enables insurers to manage their policy base and provide quotes, policy servicing, rating, billing, claims and agency administration with 24/7 access through dedicated portals. Key capabilities of each module include: Quote Comprehensive Customer Index provides customer profile information, policies, records and notes Quick Quote and Full Quote with a save for later option Straight through processing for immediate purchase Obtain multiple quotes through copy quote functionality Moratorium support to prevent quoting based on catastrophe or other business reasons Data prefill options with a variety of data providers Risk location visualization Payment provider integration Shopper portal for direct business Renewal quote functionality Quote proposal package Allows for real-time policy issuance Policy Support for mid-term adjustments Implement policy renewals Flat and pro rata cancellations Automated renewal available Out-of-sequence endorsement processing Premium adjustment and transaction roll back Review full policy history of user activity Integrate mid-term adjustments/endorsements with rate calculations Update and prorate premiums automatically to conform with policy endorsements Provide full endorsement (MTA) functionality with backdating options Manage advanced policy servicing and out-ofsequence endorsements with rollback and roll forward features Submit renewals automatically with early renewal capabilities and Do Not Renew for all 50 states Renewal quote functionality Conversion renewal functionality Generate policy document package including declaration 6 Rating Use Excel workbooks to model rating calculations, specify underwriting rules and define form logic Convert workbooks automatically into web services Allow business users to configure, author formulas and edit drop down menu options independently Manage and maintain version control across distribution channels Enable predictive analytics and multi-tiered, complex rating products Protect proprietary underwriting rules, models and algorithms Deploy in your data center or in the cloud Run on any platform (Windows or Linux) and language environment at any scale Self-validate and test to re-rate existing programs Service multiple platforms with a single rating engine Create broad exposure to rating variables (e.g., loss history, experience data, catastrophe risk, etc.) Capture and integrate runtime metrics with Prometheus service monitoring Real-time and design time integration to R, a statistical programming language

7 Billing Enable credit card payments by insureds and agents Expand additional payment type alternatives beyond credit cards Process agency and customer payments accurately and automatically, including support for EFT and credit card Automate agency settlement including commission payments and claw-back Provide unlimited bill plan options with automated and/or scheduled bill plan changes Combine installment due date and equity based due date processing with 24/7 payment acceptance notice Claims Issue First Notice of Loss (FNOL) Integrate with policy systems for coverage verification Import and pre-fill policy information for claims automatically Manage claims payments with extensive controls and built-in workflow for reserve and payment transactions Agency Administration Add, modify or delete agent E & O policy and licensing information and update agencies/agents Structure flexible commission options Create and maintain appointment letters/contracts Verify and maintain producer eligibility Run factor and dollar-based commission schedules/ management with new business and renewal commission rates using more than 10 variables Detail fees and service charges featuring flexible fee creation Accommodate unlimited state fees, taxes and surcharges on a fully earned or pro rata basis Automate and manually process refunds Interface with major general ledger and checkwriting systems along with credit card and ACH processors Process adjustment and reversal Equalize installments Manage commissions, including refund and check management Set user authority limits by product line coverage, indemnity reserve amounts and expense payment Account for indemnity, expense, salvage and subrogation transactions Update claim status dynamically Conduct agency bank account sweep Store market notes and documents Establish and monitor agent to carrier appointment Define agency/agent hierarchy by parent organizations, siblings and manage subagency relationships The DRC digital risk center generates declaration pages, policies, invoices, quotes, endorsements, general notices, cancellations and other outputs. Deploy through printing and PDF generation that can be ed, stored or displayed on desktop and mobile devices. 7

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9 A Powerful Rating Platform at the Core to Accelerate Speed to Market HARNESSING THE POWER OF THE RS X RATING PLATFORM The RS X Rating Platform offers the most accurate, cost-effective and fastest path to transform insurance products from concept to production and bring them to market. In addition to generating rates, our RS X platform creates intuitive user interfaces and helps manage forms as business users work in Microsoft Excel to model, design and configure new products. MODEL IN EXCEL WORKBOOKS GENERATE RATES AND RULES CREATE USER INTERFACES Using Excel workbooks built by analysts, not programmers, our platform creates web services, incorporates automated underwriting features and eliminates unnecessary steps and potential errors inherent in traditional code and load development. Underwriters, insureds, agents and shopper customers can harness the power of RS X through convenient portals. DRC SUITE UNDERWRITING PORTAL INSURED PORTAL AGENT PORTAL SHOPPER PORTAL QUOTE POLICY RATING BILLING CLAIMS AGENCY ADMINISTRATION BUSINESS INTELLIGENCE RS X RATING PLATFORM COMPARATIVE RATER LEGACY SYSTEMS ANALYTICS PACKAGE 3RD PARTY PORTALS 9

10 Portals to Empower Underwriters, Insured, Agents and Shoppers UNDERWRITING, INSURED, AGENT AND SHOPPER PORTALS DRC solutions offer extensive, user-friendly portals that can be accessed 24/7 from a browser, enabling continuous administration to the entire user community. Key portal capabilities include: Underwriting Portal Multiple referrals Workflows Multiple task groups Direct policy entry capability Call center support Insured Portal Immediate 24/7 access from anywhere to a single, current source of information Sign up for automated bill pay Customer maintenance Account view Advanced search Document generation and management Easily configured dashboard providing real-time metrics Full self-service capabilities Retrieve policy documents on demand Check billing status Agent Portal Generate customer quick quotes Print declaration pages, proof-of-insurance cards and rate proposals in real time View all pending quotes that require intervention and additional review E-signature capabilities Receive company news and announcements View and approve renewal quotes Underwrite policies automatically according to guidelines and kick out exceptions to an underwriter Enable straight through processing Ability to co-brand user interface Easily configured dashboard providing real-time metrics Shopper Portal Anonymous customer quick quotes Straight through processing Real-time printing of declaration pages, proof-of-insurance cards and rate proposals Make immediate payments Sign up for automated bill pay 10

11 Advanced Systems Administration with Versatile Integration SYSTEM ADMINISTRATION All DRC customers enjoy advanced systems configuration capabilities. Key features include: Control security access by user and user groups Create customer defined task groups Configure and create role-based dynamic user interfaces (UIs) for all portals Establish and run parameter-driven process cycles Full control over state and product specific regulatory notification settings Role-based security management Process multi-currency and multi-language inputs Enable single sign-on (SSO) PARTNERS, ALLIANCES, THIRD PARTY INTEGRATIONS, AND EXTENDED FUNCTIONALITY The DRC platform works with many popular third-party integrations to enhance functionality and seamlessly integrates with business process workflows across software platforms and user groups. Some of the most frequent integrations include: Replacement cost calculators Property characteristics Document management systems Inspection companies Analytics packages Premium finance calculators Payment processors General ledger Single sign-on providers Biometric authentication Lloyd s Bordereau Agency management systems submissions Financial institutions (EFT/e-check lockbox) E-signature 11

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13 Analytics That Transform Insight Into Action ANALYTICS DRC offers access to valuable analytic tools to advance continual improvement to stay a step ahead of the competition. Key analytical capabilities include: Business Intelligence Visualize and oversee interactive dashboards Generate clear, effective data analytics reports Seamlessly embed reports and dashboards into portals White label reports and dashboards for external consumption Agency quoting production analysis Run policy analytics Run multi-dimensional analytics Allow ad hoc data discovery Enable self-service analytics and reporting Author reports and dashboards Schedule distribution of reports Update data with real-time write-back Administer access with user and group role security Run billing and claims analytics RS X Analyzer Model programs to analyze rate impact against in-force policy book Create customizable reports with 3D data models Compare rating models with competitive programs Model and run pricing impact analysis Compare two books by segment or in entirety Mitigate risk and increase profit by fine-tuning rates Enhance pricing confidence Real-time access to R statistical models MODEL IN EXCEL WORKBOOKS GENERATE RATE LIBRARY IN RS X CREATE USER INTERFACES SERVE REQUESTS ACTUARIES AND BUSINESS ANALYSTS COMPILES WORKBOOKS INTO WEB SERVICES RUN-TIME WEB SERVICES ANALYZE ALTERNATIVE RATE PROGRAMS REPORT/BI AND COMPARE 13

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15 Expert collaboration. Complete customer commitment. WORKING TOGETHER DRC offers cloud-hosting, on-premise or hybrid deployment of our software. We begin our customer partnerships with high-speed, low cost and a low risk 2 Week Challenge to determine pre-implementation requirements. We then proceed to full implementation, hosting and ongoing maintenance. Scale server architecture easily Integrate distribution Implement secure FTP folders Maintain 99.95% application availability uptime Plan for robust disaster recovery SUCCESSFULLY ACHIEVE GOALS THROUGH TESTED IMPLEMENTATION RECONCILING BUSINESS AND TECHNICAL REQUIREMENTS WITH USER NEEDS 1. DISCOVERY 2. TWO-WEEK RAPID PROTOTYPING 3. PILOT TESTING AND PLANNING TECHNICAL REQUIREMENTS BUSINESS REQUIREMENTS 4. IMPLEMENTATION 5. USER-ACCEPTANCE TESTING MULTIPLE USER NEEDS 6. FULL-SCALE PRODUCTION 15

16 ABOUT US 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 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 web-based administration system expedites implementation, lowers costs and simplifies maintenance across insurance products. Our leading RS X Rating Platform 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 our commitment to deliver to their complete satisfaction. Insurance technology. Thoughtfully engineered. HEADQUARTERS 1601 Kapiolani Blvd. Suite 1100 Honolulu, HI PH FX TOLL FREE (US) REGIONAL OFFICE 2 International Plaza Suite 345 Philadelphia, PA PH FX TOLL FREE (US) DECISIONRESEARCH.COM sales@decisionresearch.com 2018 Decision Research Corporation. All other trademarks, logos and copyrights are property of their respective owners.