Risk management solutions provider Digital Matrix Systems (DMS) has introduced DMS Insurance Attributes to provide customised data for insurers to enhance decision-making.

The product will help insurers to optimise insurance rate evaluation data, improve profitability and reduce costs.

DMS Insurance Attributes meets the standards of National Conference of Insurance Legislators and can be updated as state regulations change.

DMS executive vice president David Graves said that the number of DMS Summary Attributes has grown since first being introduced to the financial services market more than 15 years ago.

"The introduction of DMS Insurance Attributes is a natural extension of our core analytics and demonstrates our continued commitment to improving the quality of data delivery to the insurance industry," Graves added.

The company currently offers 1,700 insurance attributes to enhance existing models, support new model development and refine segmentation.