RDT sponsors ABI Motor Conference 2014 and leads debate on distribution

December 17, 2014

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The Road to 2020

The future of the motor insurance industry was comprehensively discussed during the ABI’s Motor Conference 2014 at the Grange Tower Bridge Hotel on 2 December. Hosted by the broadcaster Sian Williams, and with keynote speeches from Huw Evans, Assistant Director General of the ABI, and Chris Grayling, Secretary of State for Justice, the plenary sessions and panel discussions covered the key issues facing insurers and consumers as technological advances, complex legislative reforms and political changes shape the future of the marketplace. Richard Burden, MP, Shadow Roads Minister, and Heather Wheeler, MP, PPS to the Attorney General, added a political dimension and provided expert industry comments.

As a leading technology supplier for motor providers, RDT is closely aware of and involved with the issues and challenges that the industry must confront over the next five years. Not least is the MyLicence initiative (see the RDT press release) and the fight against fraud, as well as credit hire, vehicle technology, big data, and the future of distribution – all of which were discussed in individual breakout sessions.

The distribution session, entitled ‘The evolving distribution model’, was sponsored by RDT and included RDT CEO Mark Bates as one of the panel speakers. The other panellists were James Reader (CEO of Covea), Graeme Trudgill (BIBA) and James Daley (Fairer Finance). The session was chaired by Saxon East of Insurance Times.

With current and emerging technologies providing many more routes to market, the panellists highlighted price comparison websites and the rise of social media as defining features of the current marketplace. However, they emphasised that this need not spell the demise of the broker, who will remain a valued intermediary in today’s price-competitive “supermarket” environment. They agreed that despite the benefits of accessibility and a real-time pricing, consumers should never lose sight of a fundamental principle of good insurance – namely, cheap cover is not necessarily adequate cover.

Other discussion points focused on the limitations of mobile technology when insurers are not dealing directly with the consumer. For example, how do you accommodate “small print” in the fast-moving and transient world of smart phones and tablets? The role of telematics was also discussed, with Mark Bates sounding a note of caution because there are many variables to consider.

“It’s not always easy to quantify the benefits,” he maintained, “because there are numerous grey areas that can lead to inaccurate information.”

The breakout debate concluded with a discussion of MFN (most-favoured nation) clauses. A contentious issue, MFN clauses are fueling arguments about fair competition and restrictive practices, and the industry needs to find the right balance as price comparison sites continue to grow and the marketplace becomes more crowded.

The conference closed with a speech from Paul Evans, ABI Chairman and Group CEO of AXA. His final remarks reiterated the themes of technological, legislative and political change, and the certainty that the marketplace for motor insurance will look very different by 2020.

RDT programmers attend Microsoft TechEd 2014 Conference in Barcelona

December 4, 2014

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Staying connected

RDT is a company committed to innovation and research and development, which leads to technical advances and business benefits that we pass on to our insurance clients.

That’s why we employ software engineers who have a creative energy and an aptitude for learning – key attributes that enhance our reputation as a technology leader. It’s also why we embrace the latest technology developments and attend and participate in relevant technology conferences and seminars. In particular, as a Microsoft Gold Partner for many years, we are supporters of the annual Microsoft Global TechEd Conference.

This year’s event, held in October in Barcelona, was attended by several RDT staff who participated in sessions covering a wide range of emerging technologies that will help to define the IT agenda and future roadmap within the Microsoft community. (For example, “The future of .Net in the cloud with Microsoft vNext”; “Big data in the cloud with HDInsight, DocumentDB, Data Factory and Machine Learning”; and “Application lifecycle management using Desired State Configuration”).

The RDT attendees have brought the conference insights and shared wisdom back with them and will now work with the rest of the RDT team to inspire their colleagues and shape our ever-evolving product set.

Live since May 2013, the hub is the future of insurance distribution – now. Moreover, it has a wide range of potential uses beyond traditional insurance data.

RDT & Celent hold London event to discuss the future of insurer-hosted rating

November 14, 2014

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Doing business in the information age

On 7 October 2014, at London’s One Aldwych Hotel in Covent Garden, RDT and Celent jointly hosted a seminar to examine opportunities and goals for more efficient insurance in today’s information-rich digital world.

The event, attended by major insurers such as Zurich, Axa, Covea, RSA, LV, Markerstudy, Service, Direct Line and Sterling, focused on straight-through processing and the ground-breaking benefits of RDT’s insurer-hosted rating hub.

Craig Beattie, a senior analyst at Celent, delivered a presentation entitled: Agility in a Digital Market. He described how business models must evolve and adapt in response to the wealth of new media channels that are helping insurers to gather and share data across the marketplace. The challenge is the sheer volume of data: how do you create a true ‘internet of things’ that will enable insurers to access critical information and manage risks swiftly and efficiently?

RDT responded that they have the answer – a revolutionary insurer-hosted rating hub. The hub is a disruptive innovation, a technology that will reshape and improve the way insurers do business. In a presentation entitled Redefining the Rating Paradigm, RDT’s CEO Mark Bates looked at how RDT’s new platform will allow insurers to utilise vital market information and distribute products, thereby minimising fraud, shortening business cycles, and benefiting the honest end user.

Live since May 2013, the hub is the future of insurance distribution – now. Moreover, it has a wide range of potential uses beyond traditional insurance data.

Mark Bates presenting the Innovative Use of Data Award to LV at the 2014 Insurance Times Technology Awards

October 22, 2014

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As well as having several of our valued clients as guests of RDT at the prestigious 2014 Insurance Times Technology Awards at the Bloomsbury Ballroom in London on the 25th of September, RDT also sponsored the “Innovative Use of Data” award. This was won by LV (beating other finalists Marsh Insurance Services and Aviva) and the picture shows Mark Bates, CEO of RDT, with LV. The picture also shows Saxon East of Insurance Times and Angela Lamont, the TV and radio presenter.

Insurance Times Technology Awards, 25th September 2014.

Rapidly expanding technology company RDT has announced two major appointments to help drive its growth

August 1, 2014

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The insurance software provider, which has nearly doubled in size in the past year, has hired Rob Grigg and Michael Boucher as part of its expansion programme.

Grigg joins RDT as Chief Technical Officer after two years as Head of Architecture at ASOS, the UK’s largest independent online fashion and beauty retailer. Grigg is an authority on Agile software development, a methodology where requirements and solutions evolve through collaboration in cross-functional teams, thus promoting the early delivery of fully-functioning software. His knowledge of Agile will help consolidate RDT’s recent implementation of this progressive way of working. Commenting on his new position, Grigg said:

“RDT is entrepreneurial and has a strong culture of continuous improvement. It is a creative and innovative workplace with a very bright and motivated team, so I’m delighted to be playing a part in RDT’s future growth.”

RDT adopted Agile methodology in 2012, and this year the company moved to a bigger HQ, in West Malling. The new office has team areas and plenty of informal meeting spaces to support the collaborative work style that is fundamental to Agile practices. As Grigg explained:

“To implement Agile effectively, you need to look closely at the whole organisation, how it functions, how people interact, and create an environment that is conducive to swift and efficient software development. At RDT, there is top-down support for this initiative, and it begins with the CEO. The office has been purpose built around Agile delivery teams and the focus is firmly on providing the most productive and engaging place to work.”

RDT’s second new appointment, Michael Boucher, joins the company as Group Product Owner. He is an insurance expert with over 25 years experience, and for the last 13 years has worked for South Australia motoring organisation RAA, which has been using Landscape, RDT’s general insurance administration system, for nearly three years.

Boucher moved to the UK specifically to work for RDT after getting to know CEO Mark Bates during the purchase and implementation process of Landscape. He said:

“Four years ago Mark told me his plans for RDT, as had many other software vendors during the tender process. Four years on, he’s delivered where the others haven’t. After 25 years in general insurance, I saw RDT as an exciting opportunity to be at the forefront of these developments and to take part in helping to shape the future. I wanted to work for RDT in the UK because of the creative environment and the staff’s attitude and commitment. People have a genuine interest in seeing the company succeed and we’re all aware that we have the ability to shape the future. We will become the number one provider of insurance software solutions, and we’ll have fun doing it.”

Mr Bates, RDT’s CEO, added:

“Over the course of a career you meet a few outstanding individuals, and any good CEO will try to recruit them at some point. Rob and Michael bring fantastic experience and will make a major contribution to RDT as we continue to grow.”

RDT client RAA wins Celent Model Insurer Asia 2014 Awards

March 26, 2014

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Leading insurance technology provider RDT today announced that its customer, RAA Insurance, has won a Fourth Annual Celent Model Insurer Asia 2014 Award in the Policy Administration category. The RAA award entry showcased the company’s deployment of Landscape, RDT’s flagship policy and claims administration system.

RAA Insurance is a leading South Australian general insurer with a proud history of servicing South Australia’s insurance customers for over 75 years.  The company’s insurance products are distributed exclusively through the RAA Office network across South Australia and in Broken Hill and through a specialist staffed call centre located in Adelaide.

The award was announced at the Celent Model Insurer Asia Summit held in Singapore earlier this month. The Model Insurer Asia Award recognises the top technology initiatives in the Asia-Pacific region which best address the question “What would it look like for an insurer to do everything right with today’s technology?” RAA’s winning initiative offered an example of an end-to-end solution that delivered all-round improved usability for new business, claims, renewals and policy adjustments.  It also combined the flexibility to bring new products to market quickly and efficiently with the scalability to evolve in line with the company’s future growth.

Ian Stone, RAA’s Group Managing Director said:

“This is a great win for RAA and reflects the value of RDT’s Landscape solution. Our whole team is thrilled that our efforts have been recognised.  The platform itself is now the mainstay of our business and puts us in a strong position to serve our customers well into the future.”

Ian reports that RAA staff are no longer burdened by heavy administrative workloads and can devote their time to customer activities. As a result, staff are more motivated; they now have the freedom and opportunity to do more and to focus on customer care where it is truly needed.  Extensive workflow functionality has virtually eliminated human error and has taken two-stage referrals out of the process. Having implemented the solution, RAA now receives 27,000 less motor claims service calls per annum and enjoyed record levels of GWP revenue growth in the first two months the system went live.

RDT’s Landscape is a highly configurable insurance administration system featuring a comprehensive rating engine with underwriting rules which enables RAA to modify as required in line with market changes.  RAA attributes a wide range of benefits directly to the Landscape platform. These include reduced costs of operation, increased productivity and greater control of its own product and sales processes across its motor, household, and boat insurance lines of business.

Mark Bates, CEO, RDT said:

“We congratulate RAA on this achievement. It has shown how driving efficiencies in a complex and challenging administrative environment can impact across the organisation. We are very happy to have played our part in this success story.”

Wenli Yuan, Senior Analyst, Celent, said:

“Celent is proud to acknowledge insurers who make significant contributions to raising standards of excellence in the important Asia region. RAA has joined an elite group of winners by demonstrating best practices in harnessing technology to deliver demonstrable benefits to both its business and customer base.”