Xcipio and DRC Combine Technologies: Present “Next Generation” Carrier Rate Engine To Agency Market

Lawrence, MA – May 19, 2004  Xcipio has used its XcelerRator™ technology to transform Decision Research Corporation’s carrier rate engine solution called V1STA RateMaker into the fastest and most accurate comparative rate engine available to insurance agencies.

The license agreement will allow Xcipio to expedite roll out of their XcelerRator™ platform, which is currently being marketed in Connecticut, to all 50 states for personal and commercial lines.

XcelerRator™ is Xcipio’s web-based, single-entry, point-of-sale platform that allows agents to comparatively quote, seamlessly access credit, MVR and loss history, automatically underwrite, tier, and upload applications to carriers for policy issuance – in real-time – while the customer is still on the phone. XcelerRator™ has the unique ability to support multiple rating sources simultaneously, bringing back rates from comparative rating systems and carrier host systems in less than 5 seconds.

“This is the perfect migration path for carriers to adopt a real-time rate engine over time”, said David Cooksley, President/CEO of Xcipio. “Carriers will be able to witness the speed, accuracy and easy maintenance of DRC’s V1STA RateMaker, since XcelerRator™ will be using the same carrier engine DRC sells to the carrier market – for all of its carriers on the XcelerRator™ platform”, he said.

Both DRC and Xcipio are excited about the new opportunity to quickly move into new states. Don MacFarland, DRC’s Regional Sales Manager said, “V1STA RateMaker quickly builds carrier rates directly from electronic versions of the actuarial spreadsheets. The time spent on manual data entry - and the possibility for error are eliminated”. “By combining our technologies, Xcipio will be able to enter new states in weeks rather than months”, he added.

“XcelerRator™ must access many different industry systems to give agents a true single entry, real-time, beginning-to-end workflow solution, and accurate comparative quoting is an important piece of that workflow”, Mr. Cooksley said.  “After spending almost a year exploring all of the possibilities, we have made a substantial investment into our future”, he added, “licensing DRC’s technology brings a true carrier rate engine onto our platform, and delivers agents a fast, accurate “Next Generation” workflow solution”.

About Xcipio, Inc.

Specializing in Java/XML applications for the property and casualty industry, Xcipio, Inc. has developed XcelerRator™, a single entry, multi-carrier/multi-product/multi-vendor communication platform that underwrites, tiers quotes in real-time, and pre-fills ACORD applications, ID Cards, & carrier supplemental forms to automate insurance sales, distribution and customer support.  In addition, the XcelerRator™ platform has the ability to extract agency management data from most agency management systems.

For information about Xcipio’s products and services, contact Cyndy Ainsworth at [email protected], (978) 682-9036, ext 15.

About Decision Research Corporation
Decision Research Corporation brings over 30 years of proven experience and expertise in the insurance industry. Our leading offerings provide insurance organizations with solutions to run their business more efficiently while driving down operational costs.  The V1STA DecisionMaker suite provides a seamlessly integrated solution for carriers both small and large from coast to coast.   For more information about Decision Research, call us at 800.836.6057 or visit our website at www.decisionresearch.com.