At a time of year when many pause to reflect, the end of a decade brings an especially introspective mood over our personal, business and cultural lives. There’s no exception to that here at NetRate, where we’re reflecting on more than two decades of changes to the company and our industry as a whole.
When you are in the business of software development for 20+ years, it can be a challenge to modernize legacy systems and adapt to new standards. We faced the daunting tasks of implementing new cyber security guidelines, and brought our product into the cloud for maximum performance, up-time and security.
What was once simple rating software evolved to management of our clients’ day-to-day rating workflow and the complete policy life cycle. This includes coverage changes, out-of-sequence endorsements, cancellations, policy reinstatements, renewals, policy issuance, forms, reports and audits.
The challenges NetRate faced as the industry evolved have been met time and time again by our expert team of analysts and developers. As we look to the future, we know that Artificial Intelligence, IoT data application and other innovations will require us to continually evolve our products and services – and attract the talent to do this. Though insurance is a multi-billion dollar, high-growth industry, in the US, only 2% of university alumni plan to work in insurance, according to this study of trends shaping the insurance industry.
The good news for our customers? We’re thinking ahead, so technology innovation is on us. You can count on NetRate to streamline your workflow for ISO and non-ISO based lines of business and provide custom programming to meet your special needs for partner integrations and carrier-specific requirements.