Equator is RDT’s award-winning data orchestration solution designed in collaboration with insurers, and it’s changing the way insurance is sold.
Equator, an insurer hosted pricing platform, provides better and faster assessment of risks at the point of quote, drawing on data from third party information feeds to help calculate and price the risks. With Equator, insurers can manage their rates centrally and handle more than 20 million quotes a day.
The reliance on broker software houses to distribute rates, with a six-week turnaround time, isn’t just old thinking – it’s antiquated. Equator does away with the need to distribute rates altogether. Due to its lightning-fast capabilities, it allows insurers to update their rates in minutes, not weeks. The cloud version gives pay-as-you-use cost advantages and instant scalability for peaks in demand.
Insurers can be confident that they’re writing good quality business at the right price based on the best available information. Undesirable applicants can be identified at point of quote, cutting application fraud by up to 60 per cent.
Equator includes configurable mapping for integration and communication with other systems. It also takes records of transactions and calculates throughput metrics. These statistics, plus details about errors and warnings, are accessible from Equator’s user interface and can also be posted to the insurer’s own monitoring system.