Figures released by RDT illustrate that it has been a thriving year for the company despite current gloomy economic operating conditions, with interest levels in its Landscape.NET suite of products increasing significantly. The insurance administration solutions specialist has successfully converted over 70% of new business opportunities, increasing its yearly revenues by over 50%.
This business growth bucks predicted trends for 2009, with many commentators expecting that insurers would be tightening purse strings as a result of the current economic climate. Conversely, RDT has found that many insurers are taking stock of their business modules and processes and analysing the level of risk for each of their divisions. Many are finding that their legacy administration systems are labour intensive, costly and out of date, making productivity insufficient – both financially and in terms of resource. This has led to a review of associated costs for upgrading to new technology that organisations are beginning to recognise can aid them in recession-proofing their business.
RDT Landscape’s commitment to the Microsoft platform ensures that its technology is at the cutting edge of new advancements. Its ability to be tailored to suit individual insurers’ needs mean that Landscape can be installed and act in a similar way to an in-house built system. RDT customers also benefit from the ability of being able to collaborate with other organisations to develop new functions. This collaborative approach makes the Landscape solution particularly attractive to insurers during the current climate. RDT has consolidated this trend towards customer collaboration with the creation of a series of ‘User Forums’ to enable its customers to come together to discuss key learnings and future developments. This kind of collaboration is unique within the market and is not a service that can be realised through in-house solutions.
To handle the increased demand for its products and services, RDT is in the process of recruiting additional business analysts, developers and project managers. Plans are also in progress for relocating to new, larger premises. RDT prides itself on the level of commitment and customer service that it offers its clients and every measure has been taken to ensure that the company grows at a steady speed, supported by the recruitment of only ‘best in the business’ staff.
Mark Bates, Chief Executive of RDT concluded: “2009 has been a very successful year for RDT, with insurers noting the importance that technology has on their business. The future of the insurance sector looks to be much more reliant on new technology as the next generation wishes to communicate electronically with service providers. Insurers must continue to embrace the developments within the sector with the implementation of solutions such as Unified Communications, Web Services and Customer Relationship Management (CRM) tools. We look forward to the economic climate improving and witnessing the way in which the sector embraces these developments, as we believe that immense changes will be made to the sector as a whole”.