Grange Insurance has implemented Decision Research Corporation's DecisionMaker Rating Analyzer for its commercial automobile program.
With DecisionMaker Rating Analyzer (DM Analyzer) now in production, Grange can now answer the ‘what if’ questions relating to its commercial auto rate management and can begin setting up the next line of business, said Decision Research Corporation (DRC).
DRC also said that its DM Analyzer enables Grange to study the impact of rate changes, not only on the in force business but also how the new rates would compare to the competition. Armed with this depth of rating impact knowledge, Grange is able to fine tune rates to offer the most competitive and most profitable business, according to DRC.
Scott Drab, Grange commercial lines product manager, said: DRC’s DM Analyzer helps us mitigate risk by clarifying the impact of planned rate changes prior to promoting our plans. With the Analyzer tool we are even more confident about our pricing, better positioned to serve our customers and prepared to conquer the challenges of today’s tough market.