Development wil drive growh in market place, says technology firm
Insurance administration solutions specialist RDT has launched the first rating engine in the cloud available to the insurance industry.
RDT’s Landscape Rating Engine in the cloud is maintained and managed by Microsoft and has been developed to help insurers harness technology to drive business growth.
According to RDT, a reduction in technology costs will have a positive impact on insurers’ bottom line because users do not face any up-front capital investment in technology infrastructure and are only required to pay for the processing power that they actually use.
It adds that the system offers a far more cost effective way of supporting high volume entities such as aggregators.
According to RDT, customers’ ability to respond to business opportunities will be greatly enhanced by cloud technology.
RDT chief executive Mark Bates said: “Currently, when an aggregator runs a TV advert the volume means they experience slow response rates and effectively lose their opportunity to bid for business.
“Thanks to cloud technology, our customers will now be able to receive almost unlimited processing capacity to accommodate any heightened demand as and when they need it –without any hidden costs.”
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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