Policy Rating Engine
Having the ability to automatically create a premium during the quote or MTA process saves precious time for your underwriters. We will replicate your binding authority rules and rates into our rating engine, so the underwriting, which will be based on the risk information collected, is displayed accurately and correctly.
We know very well that there is no "one shoe fits all" with rating, so our highly flexible and configurable rating engine has ben designed and built to cater to any eventuality.
A few examples of workflows:
1) You may wish to create to standard rating, where there is a straight forward acceptance and quote, or decline.
2) Manual risk assessment and premium creation
3) Collect risk information, pausing for a referrals and manual underwriting for bespoke, risk profiled pricing
4) API to third party rating engine where rates are not stored in our system, but instead directly with one or more insurers.
5) Manual data input after full risk information has been emailed to insurer or capacity underwriters, who themselves perform a risk profile and premium creation, which in turn is entered into our system.
Create simple or complex underwriting workflow and rating factors to generate accurate automatic premium breakdowns.
External rating engine can be integrated into the underwriting
Manually underwrite premiums with your in house underwriters