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NetSTAT
Statistical
Code Collection Module
 NetRate
Systems understands that there is more involved
with rating than simple calculation of premiums.
At the front end, underwriting criteria should
be part of the policy rate-making process, at
least to a limited extent. The rating engine should
not only calculate full policy premiums, it should
also handle mid-policy term changes, including
endorsements, cancellations, etc., automatically.
And, on the back end, a rating system should be
able to quickly and easily transfer data to any
3rd party program for policy issue, forms generation,
policy administration, etc. But beyond that, many
carriers and MGAs have a requirement to take statistical
data regarding their policies and provide that
data to statistical reporting agencies like ISO
and Perr & Knight. The NetRate NetSTAT Statistical
Code Collection Module works in conjunction with
the NetRate Rating Programs and the NetBind Policy
Life Cycle Module to provide ISO-formatted Statistical
data on a transactional basis.
*ISO-formatted Statistical
Data: NetRate provides statistical data
for each transaction accepted within the Policy
Life Cycle Module, according to ISO’s most
current implementation of Stat Code Formatting.
*Report Formatting: NetRate can
custom design reports utilizing the statistical
reporting format in place and in use currently
by the customer. Reports can be designed to transfer
to an Excel spreadsheet, a Word document, or to
simply accumulate in a table. Custom Execute programs
allow you to generate the report at any time.
*Stat Code Printout: NetRate
offers the option of including a printout of the
stat code record on the bottom of NetRate’s
Worksheet printout, for hard copy record of the
data.
*Connect with other NetRate Modules: NetBind,
NetPOS, NetXPORT, NetRate Systems’ ISO based
Commercial Lines Rating Solution allows Insurance
Companies and MGAs to Rate Commercial Lines Insurance
with many additional required features.
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