Back in 2011, Daniel C. Cummings, CEO of American Access
Casualty Company (AACC) had a conversation with Matt
Reznicek, director of product and pricing for AACC, about the
direction the insurer needed to take with pricing.
“We wanted to be more proactive,” says Reznicek. “We
wanted to improve speed-to-market and minimize any poten-
tial rating errors that would come through more of a complex
programming arrangement that was underlying our legacy sys-
tem and how rating and pricing folded into that more complex
Six years later, the company’s relationship with SpeedBuilder
Systems has reached a point where the rating worries Reznicek
and Cummings shared have been put aside as the non-standard
insurer has completed integration of the SpeedBuilder product
for all five states in which AACC operates.
Non-standard automobile insurance is an active market-
place from a carrier standpoint with fairly consistent entries and
exits of carriers and MGA companies, according to Reznicek. It
also goes through cycles of absorbing and giving up customers
to the standard market based on the standard market’s appetite
and whether the overall market is
hardening or softening.
“It’s a competitive market,” says
Reznicek. “That results in a lot of
rate-change activity competing
on a segment level, often trying to
make your program effective within the micro-markets of agencies
that could represent two or ten
different carriers. Any software
solution should have the ability to
address non-standard needs vs.
those in the preferred market for
private passenger needs.”
Legacy systems were keeping AACC from an improved rating and pricing formula.