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RACQ Insurance implements FJA’s Product Machine as new pricing system

RACQ Insurance, a wholly owned subsidiary of RACQ the Royal Automobile Club of Queensland, has implemented insurance software and services provider FJA's Product Machine as its new pricing system.

FJA’s Product Machine is a key element in RACQ’s plans to rapidly transition all of its operations to its Group Enterprise Technology platform.

FJA-US president and managing director Marc Dutton said the Product Machine’s ability to integrate with existing enterprise and ancillary systems will enable RACQI to be more responsive to market changes and emerging opportunities.

RACQ Insurance CEO Bradley Heath said that the frim implemented the FJA Pricing Engine to assist with rating risk at a more granular level and implementing price changes with a quicker time to market than mainframe legacy system permitted.

With more than 1.4 million policyholders throughout Queensland and northern New South Wales, RACQ Insurance is a provider of motor vehicle, household, pleasure-craft, and compulsory third party insurance (CTP) at competitive premiums, backed by a speedy claims service.