RDT is delighted to announce that its long-term client Towergate has signed a multi-year contract to use our technology.
The agreement, signed on 1st December, gives Towergate access to the latest version of RDT’s best-selling general insurance administration platform Landscape.
This is a great opportunity for Towergate to see all the benefits that the latest RDT insurtech can bring. And, following the recent additional long-term commitment from our Australian client RAA, the new contract puts RDT in a very strong position.
Everyone here at RDT is very excited about entering this new phase in our long term partnership with Towergate and we look forward to forging a very productive future with them.
Insurance software specialist RDT is strengthening its relationship with its long-standing customer, the Royal Automobile Association of South Australia (RAA), by providing the insurer with a huge uplift in its technology.
RAA is undergoing a programme of improvements to its digital capability and the enhancements will include RDT’s new ecommerce API, a platform for insurers to create phone apps and websites for their customers.
The company will also be using RDT’s data enrichment and centralised rating platform, Equator, to make the best use of all the data it holds about its members. This will help RAA to deliver innovative products and services directly to them.
RAA’s partnership with RDT began in 2012, when it made the switchover to RDT’s general insurance platform Landscape. Two months after going live, RAA marked the biggest gross written premium month in its history. The implementation of Landscape was so successful for RAA that it won the 2014 Celent Model Insurer Asia Award for policy administration technology initiatives.
The new upgrades, which also include significant enhancements to Landscape, are being developed in RDT’s Kent headquarters using agile methodology, with the rollout beginning in early 2017.
RDT’s CEO Mark Bates comments “We are delighted that RAA has chosen us to further develop its business and enhance its IT capability. Using the enhancements, RAA will be able to move to the forefront of Insurtech innovation and offer their greatest asset, their members, enhanced digital products.
The inclusion of Equator ensures the robust, scalable, low latency movement of complex combinations of data in a sophisticated and secure manner. Moving forward, Equator will allow RAA to enrich their current data with external sources at point of quote, improving pricing granularity and reducing risk, while allowing more tailored and enhanced member experiences. This programme will make RAA one of the most technologically sophisticated insurance companies in Australia.”
Ian Stone, RAA group managing director, added “RAA is well known for providing exceptional service to our members from our shops or from call centres. Improving our digital capability will also allow us to provide best practice, customer-centric, personalised and seamless services in the digital environment”.
RAA is South Australia’s largest independent organisation and one of the region’s most familiar brands. It has been providing insurance, mostly for cars and homes, for more than 75 years.
Motor insurer Markerstudy has adopted RDT’s latest offering to further streamline its risk acceptance process. Quick Risk Score (QRS), a module of RDT’s award-winning data orchestration system Equator, enables Markerstudy to make rapid decisions about the acceptability of a risk.
QRS is a software-as-a-service enquiry tool. Using data enrichment platforms to augment self-declared information, it provides a clear picture of an applicant and their vehicle. The data is analysed by the insurer and a risk score is sent to the broker.
Cloud-based and with a bold, simple graphical user interface, QRS was developed for brokers operating in the niche motor market. A risk’s score is displayed as colour-coded rings of red, amber or green, with red being the highest risk. QRS is currently live with eight of Markerstudy’s brokers and has proved so popular it’s due to be rolled out to many more of the company’s brokers in the coming months.
RDT CEO Mark Bates said: “QRS offers a highly focused view of niche risks, and is a logical extension of Equator and our strong partnership with Markerstudy. It’s had a successful rollout, and is helping to strengthen the underwriter-broker relationship by providing quick assessments in specialist areas. Bespoke motor insurance is a natural fit for QRS but it would be of equal benefit in other sectors were relevant enrichment data can be isolated for the benefit of brokers and insurers. We see QRS as a strong advantage for any Equator customers.”
Markerstudy’s Group Product Manager Chris Staples said: “QRS is a very useful decision support system for our business. It enhances the value that we are already gaining from Equator and is mutually beneficial for our underwriters and broker partners. The colour-code score system combines speed, simplicity and precision, making it a highly effective tool for profitable underwriting.”