Entertainment Risk (ER), a specialty insurance provider has selected ClarionDoor's Insured Rating to handle end-to-end rating for the company's program.
Under this agreement, ClarionDoor will implement a rating solution for the general liability, liquor liability, and assault and battery insurance products within the program. The streamlined platform will also provide rating of endorsements and renewals, calculation of surplus lines taxes for all fifty states, and a data export of account information to be used by Entertainment Risk underwriters for in-depth risk analysis.
"As an early stage company, we were looking for a rating partner that could provide a total turnkey solution supported by the latest technology," said Ted Nolan, chief executive officer of Entertainment Risk. "Because Insured Rating is a fully-hosted, cloud-based solution, it eliminated the expenses normally associated with purchasing servers, database licensing, and the IT resources needed for daily back-up and disaster recovery. This allows Entertainment Risk to do what we do best, operate in niche markets with complex risks that require true underwriting expertise."
ClarionDoor’s Insured Rating is a modern rating engine platform which operates, performs, and scales exclusively in the cloud. The technology platform behind Insured Rating makes available all the tools and services necessary for rating any insurance line of business, algorithm, or transaction type.
Insured Rating also provides the back-end functions required to deliver and maintain successful production implementations, including testing tools, what-if functionality, release tools, usage reporting and well-documented API resources, features that are critical to Entertainment Risk as the company rolls out future insurance programs.
"Entertainment Risk is a welcome addition to the rapidly growing ClarionDoor customer base," said Patrick M. McCall, chief sales officer at ClarionDoor. "Entertainment Risk’s selection of ClarionDoor adds to our momentum in the program business market, a niche well-suited for Insured Rating. Entertainment Risk has an aggressive plan for developing and implementing future offerings, and we look forward to a long and strategic partnership."