If your business requirements include processing of non-standard, non-bureau, company-specific, or proprietary lines of commercial insurance, our experienced team of US-based service professionals can leverage our existing cloud based infrastructure to deploy proprietary rates and rules via our NetRate Commercial Lines Rating System. The NetRate team leverages its insurance and IT expertise and experience delivering customized systems to ensure that your system is configured to the unique requirements of the insurance programs that you offer. We can deliver a solution that combines both custom lines of business and ISO®-based lines of business into one user friendly experience.
Benefits of a NetRate Custom Commercial Lines Rating Solution
Our flagship NetRate Commercial Lines Rating solution is designed to deliver an efficient, powerful, high-performance rating experience with these benefits:
Rapid Deployment of custom Commercial Lines for all states, including DC and Puerto Rico. Turn your spreadsheet rater into a web-enabled distribution machine. A few of our successful custom commercial lines include:
Maintenance Free: Whether you have a business analyst, IT professional, underwriter, or actuary updating your current rating solution, like spreadsheets or other configurable solutions, it all takes their valuable time to maintain the system. With a NetRate solution you can offload that work to our team of US-based service professionals. Let our team keep your rating content up to date so the option sets, rates, and rules are ready when you need them. In addition, the solution is cloud based. There’s no need for you to use your valuable resources on maintaining software applications, or additional hardware.
Worry-Free, No-Hassle Rates & Rules Management: With a NetRate solution you will be sure that all of the members of your distribution channels are using the correct version of rates and rules based on the date of the transaction being processed. The NetRate service team will keep your programs set to the editions you specify, so your team doesn’t have to hassle with learning how to configure another system.
Efficient, Intuitive Data Entry: Your custom system will require the users to select valid inputs, and as the rates or rules change often so do the valid inputs. The NetRate user interface makes it easy for even the most inexperienced users to enter a quote by presenting only valid options for the applicable rate or rule edition. In addition, utilities like classification look up, VIN decoding, and automated zip code to city and state matching, make data entry very intuitive.
Other key features of a NetRate Commercial Lines Rating Solution include:
- Customized to You: We know every insurance program has unique components. We expect to tailor every NetRate solution to your unique requirements, and our experienced, US-based service team is ready to deliver. From custom coverages to custom lines of business we will meet your needs.
- Policy Life Cycle Rating: This solution goes beyond simply providing a one-time quote. We build in the power of the policy life cycle. From quick quoting, full quoting, and binding a policy to mid-term endorsements, cancellations, and renewals your NetRate solution can handle it.
- Multi-Line, Multi-State, Multi-Location and Package Rating: Allows for exceptional handling of large, complex policy rating.
- Complete Rating Worksheet: All the rating results, premiums, factors, and calculations, in an easy-to-read PDF.
- Fully Integrated Policy Documents: NetRate is integrated with our NetPPS document generation system for generating everything from proposals to complete policy documents.
- Easy Reports: Any data either input or generated during the rating process can be incorporated into a report. Bordereaux, carrier feeds, statistical coding reports, and many more can be generated in many different formats with the push of a button.
- Eliminate Duplicate Data Entry with Data Imports: Lots of locations? Huge vehicle fleets? Don’t do any duplicate data entry. Import them in a snap!
- Systems Integration: Gone are the days of having to re-enter data from one system to another. Easily integrate your third party applications, such as a policy administration system, with your NetRate rating solution. In addition, take advantage of our existing integrations with data sources, such as VIN decoding services and property protection classes.