CapSpecialty Selects ClarionDoor for Rating Initiative
Santa Barbara, California. – June 23, 2015 – ClarionDoor, LLC (ClarionDoor), a leading provider of hosted rating software to the insurance industry, is pleased to announce that CapSpecialty has signed an agreement to license ClarionDoor’s flagship offering, Insured Rating.
Based in Middleton, Wisconsin, CapSpecialty® provides commercial property and casualty (P&C), professional liability, surety and fidelity insurance products issued by its insurance companies, Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation and Platte River Insurance Company, in all 50 states and the District of Columbia. Under this agreement, ClarionDoor will implement InsuredRating to handle rating for several lines of CapSpecialty’s business, including general liability, commercial property, commercial auto and business owner’s policy (BOP). The solution also includes integration with CapSpecialty’s policy administration system (PAS), and will be accessed by CapSpecialty’s managing general agents (MGAs) and underwriters.
“ClarionDoor met all of our requirements for not only this rating initiative, but also for having a modern technology platform, extensive experience in the excess and surplus market, and a speed-to-market development process that will allow us to be in production in a matter of months,” said Bob Asensio, chief information officer for CapSpecialty, of the decision to partner with ClarionDoor. “Also, we like the fact that on a go-forward basis our underwriters and actuaries will have the level of control needed to efficiently manage our rates and factors.”
Insured Rating is a feature-rich, flexible rating solution which supports ISO and non-ISO rates, and which has been developed from the ground up to operate, perform, and scale exclusively in the cloud. ClarionDoor’s modern technology platform provides all the tools and services necessary for rating any line of business, algorithm, or transaction type, while Insured Rating specifically provides the back-end functions required to deliver and maintain successful production implementations, including testing tools, what-if functionality, release tools, usage reporting and well-documented API resources.
“This implementation showcases ClarionDoor’s ability to provide a black box rating solution with full policy administration integration,” said Patrick M. McCall, Chief Sales Officer at ClarionDoor. “We look forward to working with CapSpecialty’s experts to provide a streamlined, intuitive, and easy-to-use rating solution which offers an excellent user experience for the company’s distribution partners and process stakeholders.”
ClarionDoor delivers enterprise-class, web-based rating and quoting solutions to insurance organizations across all lines of business via the company’s flagship product, Insured Rating. By embracing cloud technologies, industry standards and a Software-as-a-Service (SaaS) delivery model, ClarionDoor’s experienced team of insurance and technology professionals helps insurance organizations quickly generate accurate, real-time insurance quotes and on-demand reports via Insured Rating’s integrated analytics capabilities.
CapSpecialty® is a leading provider of specialty insurance for small to mid-sized businesses in the U.S., offering Commercial Property and Casualty, Professional Liability, Surety and Fidelity products in all 50 states and the District of Columbia. By working with select partners through a limited distribution model, CapSpecialty’s creative, hard-working team provides personalized service and cultivates mutually successful partnerships to deliver positive results. CapSpecialty’s carriers have an A (“Excellent”) rating from A.M. Best, writing both admitted and non-admitted policies on the paper of Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation and Platte River Insurance Company – subsidiaries of Alleghany Insurance Holdings LLC, part of Alleghany Corporation (NYSE: Y). For more information please visit CapSpecialty.com.