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DFA Capital Management Inc. today announced that it has recently secured an agreement with Erie Insurance Group to provide ADVISE, its Integrated Enterprise Risk Management solution to Erie Insurance Group, of Erie, Pennsylvania.
Charles Longua, VP of Corporate Financial Planning and Analysis at Erie said, "We needed specialized capabilities including simulation of financial markets, stochastic analysis of our investment and underwriting risk, robust reporting tools that provide alternative investment and underwriting strategies, and analytics that include GAAP, SAP, tax and economic value perspectives. We wanted it all under a networked architecture that provides a centralized data repository and centralized processing. ADVISE was the best fit against our decision criteria."
"ADVISE met our functional specifications,” continued Mr. Longua, “and the added value of the commitment and focus of DFA Capital Management’s executive team provides us with a level of comfort that our partnership will expand and thrive going forward."
Mr. Longua added, "We have an obligation to our policyholders, our shareholders, and our employees to do everything possible to effectively manage risk within our enterprise and to increase credibility and profitability, while maintaining excellent service. The DFA Capital Management team is a vital part of our strategy to achieve those goals."
About Erie Insurance Group
Known for competitive rates and superior service, Erie Insurance Group is a leading property/casualty insurer in the United States. With more than 3.7 million policies in force, Erie Insurance Group includes seven companies operating in 11 states and the District of Columbia and is rated A+ (superior) by A.M. Best Company. Erie Indemnity Company (Nasdaq: ERIE) is the management company for Erie Insurance Group. Headquartered in Erie, Pa., since 1925, the ERIE provides auto, home, business and life insurance through more than 7,400 independent agents representing nearly 1,800 agencies. Erie Insurance Group ranks No. 368 among the FORTUNE 500 and is included in FORBES "Platinum 400" list of America's best-managed companies. For more information and a listing of independent agents representing The ERIE in your community, visit the company's Web site at http://www.erieinsurance.com
About DFA Capital Management Inc.
DFA Capital Management Inc. is the market leader in dynamic financial analysis software for the insurance and financial services industries. DFA’s software-based financial and risk management system is a foundation for competitive advantage for any insurance company with multiple business lines, reinsurance activities, rapidly changing business portfolios, and significant premium volumes.
Founded in 1999, DFA Capital Management Inc. is headquartered in Purchase, N.Y., with offices in Germany and Switzerland.
For media inquiries, contact:
Kathleen Sheridan
Stanton Crenshaw Communications
Tel: +1 212.780.1900
ksheridan@stantoncrenshaw.com
Karen Verelley
Vice President, Marketing
DFA Capital Management
Tel: +1 914.701.7238
Cell: +1 203.856.7273
karen.verelley@dfa.com