View the RDT company video to see what it is like to work for us

Our company video can be viewed here.  It will give you an idea about what it is like to work for an innovative company and what makes the people here tick.

If you would like to learn more about RDT, please contact us.

Fun night out bowling

RDT’s 2017 social calendar kicked off last night with a visit to our local ten pin bowling alley.  Twenty-two staff members from the Kings Hill office spent the evening engaged in intense competition, with Will O’Shea coming out on top with the highest score of 189.

The evening was thoroughly enjoyed by all and was organised by our new Administration Services Manager, Maggie Chapman.  You’ll be able to learn more about Maggie in our Employee Spotlight later in the month.

Insurance requirements for automated vehicles

The DfT has proposed amendments for the motor insurance framework to include automated vehicles. The amendments will require changes to legislation, however the government says it will change as little as possible in order to enable the market to develop the appropriate products for AVs.

The proposal is that an insurance company will cover both a driver’s use of a vehicle and the car’s AV technology. Having appropriate insurance will still be compulsory and the insurance would cover times when motorists are in control and when cars are in automated driving mode.

Insurtech: Past, Present, Future

2016 has (among other things) been the year of insurtech. It was a year of headline-grabbing investment in technology startups, rapid developments in big data, the rise of the internet of things and blockchain, and a host of other digital innovations that are on the brink of disrupting the insurance industry. Disruption and insurtech go together and, in the slow moving world of insurance, we’ve finally reached a tipping point. Traditional insurers must now either adopt the latest technologies or watch as their businesses are eroded by fast-moving newcomers.

Yet despite this potential threat there is also opportunity and continuity – both of which are provided by RDT. We have been at the forefront of insurance technology for more than 25 years and we’re the name behind some of the key developments that have transformed the industry. From the first real-time insurance purchasing website to the first truly agnostic data orchestration platform that allows insurers to price centrally for the whole market, RDT has been helping insurers move with the times and build their businesses.

Agile - Sprinting and the Daily Scrum

In our previous article on Agile meetings, we discussed sprint planning.  Let’s look at what happens next.

Sprinting and the Daily Scrum

Once we’ve finished sprint planning and have a commitment, we are ready to start the sprint. This is a two-week time box in which the team creates a tranche of working, potentially deliverable software.

During a sprint the team will hold a daily scrum, a 15-minute meeting in front of the sprint backlog (a visual display of what needs to be done, usually in the form of a whiteboard covered in written-on Post-It notes). This provides an opportunity to synchronise as a team and talk about what we’ve done, what we plan to do and anything standing in our way.

The scrum master oversees the meeting and listens out for any problems that may have arisen that could cause a delay.  It’s their responsibility to remove impediments and mitigate any future risk.  The scrum master uses a number of charts and techniques to understand if the team is on track and, if it’s lost direction, how to get it back on track.

We encourage continual feedback, so outside of the daily scrum there are regular conversations within the team and with the product owner to ensure we’re on the right path. The sprint is finished at the end of two-week time box.

Keep an eye out for our next article on the ‘Sprint Review’.

Towergate Signs Multi-Year Contract With RDT

RDT is delighted to announce that its long-term customer Towergate has signed a multi-year contract to use our technology.

The agreement, signed on 1^st December, gives Towergate access to the latest version of RDT’s best-selling general insurance administration platform Landscape.

This is a great opportunity for Towergate to see all the benefits that the latest RDT insurtech can bring. And, following the recent additional long-term commitment from our Australian customer RAA, the new contract puts RDT in a very strong position.

Everyone here at RDT is very excited about entering this new phase in our long term partnership with Towergate and we look forward to forging a very productive future with them.

Employee Spotlight - Allan Wishart

My background is very much in insurance and IT. In previous jobs I have had numerous roles including Project Manager, Business Analyst, Underwriter, Broker. Now I have joined RDT as an Account Manager, where my background means I understand what is going on from both the view of the client and from the view of RDT.

I have had previous dealings with RDT from the client side. I was part of the team that selected Landscape as a solution at one of our current client sites. I was really impressed with the company and with the product. When the opportunity arose to join RDT I was happy to take it.

RDT is a great place to work, it’s full of wonderful people. There is a real culture of supporting innovative thinking and people here have pride in what they do.

Insurtech : everyone after a piece of the action

With the worldwide insurance market worth nearly £4trillion, and £2.1billion invested in insurtech last year alone, it’s not surprising that there’s a feeding frenzy going on among service providers. Because, as the latest Future of Insurance publication from Raconteur clearly reveals, everything is up for grabs.

Right across the value chain, from law firms and big data specialists, to Silicon Valley entrepreneurs and fintech pathfinders, there is no shortage of hungry businesses ready and able to move into the insurance space – a fact clearly reflected in the advertisements in the Raconteur paper. Our analysis of its contents (see graphic above) reveals the wide range of players and the main areas of focus for insurtech. Consultancy services, software solutions and customer experience dominate, with a large number of new entrants and technology providers highlighting their skills as risk managers and data specialists. All are poised to disrupt the industry in the same way that fintech transformed banking.

Innovation and regulation – how RDT helps insurers and their customers

When we describe new technology as disruptive, it’s not only because it can bring dramatic improvements and shake up an industry. It’s also because it can challenge the legal and regulatory framework, and could undermine the rules and safeguards that protect consumers and businesses.

Such is the caveat with insurtech, whose breakthrough technologies include the internet of things, cloud computing, sophisticated analytics, telematics, artificial intelligence, and blockchain. Collectively, allied to the power of big data, they provide new ways to identify, measure and control risks, which means we are now asking many questions about the boundary between public and private information.

Big data provides a very revealing and accurate picture for underwriters. Lawyers and regulators may contest the line between accuracy and intrusion, but there is no doubt that reliable data can protect and benefit consumers. As a data enrichment specialist, RDT is continually finding new ways to harness and process data to help insurers and their customers, and is working very closely with insurers and regulators to develop the full potential of new technology.

Getting to know you – how RDT uses data to build customer relationships

Most important attributes of customer experience compared with performance

Research from Accenture shows that 30 per cent of customers have a negative view of their insurance providers. The figure was quoted in a feature* in Raconteur’s ‘Future of Insurance’ supplement, distributed last month with The Times, and underlines the need for insurers to find out as much as possible about their customers so they can provide a more personal service. 

The feature included a table compiled by KPMG of the most important attributes of customer experience compared with performance. This revealed that insurers are well behind digital exemplars such as Amazon and Google, and must become far more adept at extracting value from the huge amount of data available to financial services providers.

Accessibility, tailoring products and polices to customer needs, and more online access were listed as priorities to improve customer experience. While cost still remains the number one reason for closing or replacing a policy, customers cite poor communication and lack of speed, from quote through to renewals and claims, as the next major bugbear. And when it comes to communication, digital is clearly the preferred channel.

Redefining tomorrow: RDT and the future of insurance

The rise of insurtech is reflected in the amount of column inches devoted to new technology and its power to transform one of our most conservative industries. Not known for innovation, insurance is slow moving, labour intensive, bound by tradition and convention. But if the current media focus on disruption is anything to go by, insurance is on the threshold of big changes and is ready to embrace a digital future.

But who will help to make this happen, and how will insurers stay ahead of the growing wave of technology startups and challenger brands? The debate was joined in last month’s Raconteur Insurance supplement*, distributed with The Times, which provided a snapshot of the issues and players in a changing industry. In this article we comment on some of the trends covered in the supplement, and provide RDT’s vision for the future.

A key theme of the editorial was that although there is a wealth of data available, both structured and unstructured, and a host of digital resources and analytical tools that promise to turn straw into gold, insurers are struggling to find their way – a fact underlined by recent PwC research that found that while 74 per cent of insurers believe their business is at risk of disruption, 32 per cent are not yet engaging with technology firms on any level.

RDT are going to InsurTech Rising 2016!

RDT has been at the leading edge of general insurance software for 25 years. From the outset we’ve been pushing boundaries, producing disruptive solutions and investing in technology and people. We are fiercely proud of our achievements but we’re never satisfied, and constantly seek opportunities to accelerate our technology. Insurtech is transforming the industry and to stay competitive insurers must adopt new techniques and practices; innovation has become a strategically essential target. Collaboration is one of our guiding principles and we work closely with our clients to define tomorrow’s challenges and tackle them before they become problems.

We are delighted to announce that we are a sponsor of InsurTech Rising 2016, the leading InsurTech Showcase taking place from 14th - 16th November 2016 at The Crystal, Royal Victoria Dock, London.

InsurTech Rising will bring together over 400 key players shaping the InsurTech sector from insurers and entrepreneurs to VCs and solution providers.  With an exciting agenda built around business challenges and innovative solutions, gain insight into where the market is heading, what technologies insurers are looking for and the areas attracting most investment.

As one of our valued contacts, we would like to offer you an exclusive 20% discount from the delegate booking fee.

November 2016 Employee Spotlight - Felicia Asher

Felicia Asher - Business Analyst

I joined RDT five months ago to work as a Business Analyst.  Previously I used to work for larger insurance companies, so I was a little worried that RDT was a smaller organisation by comparison.  Any concerns I had were unfounded, though – RDT is a small company doing big things.  It’s amazing what work we’re putting out, and I feel triumphal here.

The location of the office is great, and there is a plenty of free parking, which I find very useful.  The office itself is modern and clean and a brilliant place to work.  Inside it’s very open which is useful for team communication and collaboration.

My team allows me to bring new ideas to foster innovation.  I feel I have the opportunity to prove myself and people are open minded to ideas that we all bring forward for discussion.

Collaborate and conquer

Insurtech can be a double-edged sword for insurers, a fact underlined in a report published in the Financial Times on October 14. The heading – ‘Insurance sector worried as insurtech startups cosy up to customers’ – reflects the growing threat posed by new technology as challenger brands move into space that was once the preserve of traditional insurers.

Research by the US investment bank Financial Technology Partners reveals that insurtech companies raised $2.6 billion last year – more than the five previous years combined – while PwC reported earlier this year that almost half of insurance companies believe they will lose 20 percent of their business to insurtech companies over the next five years.

Will the regulators prevent companies giving the best deals to new customers only?

Recent news shows that customers of the four largest energy companies in the UK have been barred from getting the best deals for gas and electricity.

New customers are able to take advantage of the best deals, while existing customers are offered deals which can mean they pay hundreds of pounds more per year.

The same is also true with insurance companies. Existing customers do not get the best prices offered to them at renewal time, and the best deals are offered to new customers.

RDT helps the FCA lift the lid on Big Data

In November 2015, the Financial Conduct Authority (FCA) announced that it would investigate the use of big data in general insurance (GI), focusing on private motor and home insurance, and would seek input from industry stakeholders and experts. As an insurtech specialist in the GI sector, RDT provided a written response to questions on data usage – and was the only technology company that the FCA named as a contributor.

The FCA’s questions covered data sources, data accuracy, and how the growing use of digital information might impact consumers and businesses. The aim was to see if big data would foster or constrain competition, whether some consumers might be marginalised because of an increasingly granular approach to underwriting, and whether the regulatory framework needs adjusting in light of advances in technology.

With the help of RDT’s insights, the FCA has concluded that big data is more friend than foe. In its Feedback Statement, published on 21 September, it said that big data is “producing a range of benefits for consumers in motor and home insurance, by transforming how consumers deal with retail GI firms, encouraging more innovation in products and services and streamlining parts of the customer journey.” The FCA said that because the use of data by insurance firms is “broadly working well”, it would not launch an in-depth market study.

ABI continue to highlight the impact of insurance fraud

A report by the ABI has highlighted the ingenuity of insurance fraudsters, along with the incredibly high cost to honest customers. From fake road accidents to false reports of loss, the cheats are costing the industry £25million a week and pushing up premiums. 

The clampdown on false whiplash claims a few years ago forced the fraudsters to become more resourceful. Many are caught quite easily – one woman made a claim for her lost wedding ring but sent her insurer a photo of the item that was dated the day after she lodged the claim. And another made a big injury claim after a fall, but CCTV film of the incident shows her staging her fall.

There are many stories like this, often ending with the criminals being handed stiff prison sentences. However not all fraudsters are incompetent and don’t get caught, making prevention the best option for insurers. Technology is a great tool in that area and RDT is one of the leading innovators of systems that detect both application and claims fraud. Our three core products – Landscape, Equator and Skyline – all have sophisticated analytics and use data enrichment to help expose fraud, and RDT is committed to continuous research and development to block new scams.  

RDT's role as an Insurtech accelerator

The importance of RDT’s role as an insurtech accelerator was highlighted this week in a speech given by PricewaterhouseCooopers’ insurtech consultant.

Speaking at the relaunch of global tech network Startupbootcamp’s insurtech programme on September 13 and reported in the Insurance Times, Kasia Kirkland discussed how partnerships between start-ups and accelerators will help the insurance industry.

Ms Kirkland, who has in the past written about the need for insurers to appear more trustworthy to consumers, said: ‘We see insurtech as a fantastic opportunity to try to improve the level of trust and the level of transparency. Some insurers are choosing in-house innovation, others are building their own start-ups. But the really wise ones are partnering with accelerators.’

RDT's Summer Interns 2016 - What Did They Think?

Our summer interns are in their last few weeks before they return to university and continue their journey into the IT industry. After asking them about their experience with us this summer, we gathered together their thoughts and opinions on what they have learnt since being with us, and whether they felt that it has been beneficial to their future.

August Employee Spotlight - Damini Singh

Hi, I’m Damini Singh, and I work for RDT as a product owner. I began working here just over five years ago, starting out as a business analyst.

I’ve spent my career working mostly in financial services and insurance, from credit card companies to life insurance, and now general insurance.  

The work at RDT ranges from regulatory compliance requirements resulting from CCD (consumer credit directive) and HM Sanctions, to implementing Landscape policy administration and claims modules for household and motor insurers. I have also been involved in website changes for our clients and also building new modules, such as campaign management, as web-based solutions.   

Right now I’m responsible for the integration of Landscape with Kofax, the new document output solution at RDT. This will replace Landscape’s current Word-based ‘standard letters’ solution.  I am also working on designing a product for household insurers using external enrichment sources for improved quote management and underwriting.

Working at RDT has been and continues to be an interesting journey. We are constantly looking at ways to improve the way we work, building new products, and encouraging innovation. The adoption of Agile methodology a few years back has completely changed the way we work. Working with development teams using agile/scrum processes in two week iterative sprints has improved our productivity and the quality of what gets done. As a product owner, it has enabled me to work more closely with our clients, as there is much more visibility during the entire process, leading to improved customer engagement.