Insurance Rating and Underwriting
As a commercial lines carrier, you want to bring new products to market as quickly as possible. However, whether a product is added as a result of an acquisition or due to a new initiative, it is challenging to add a new product in a consistent way – especially if you rely on spreadsheets for the rating and underwriting of various lines of business.
It’s also difficult to keep up with business rules when change requests are made. Sometimes you’re not sure which version of the spreadsheet is correct. Or sometimes the logic is spread across several applications. Either way, it’s time-consuming to locate the correct source of the logic and you run the risk of overlooking one of the areas that needs to be updated.
Lastly, wouldn’t it be great if you could easily experiment with just how much you could improve your company’s hit ratio without exposing the business to too much risk?
InRule can help!
Since 2002, commercial lines carriers have trusted our decision platform to automate decisions for straight-through processing.
Underwriters, actuaries and subject matter experts love us because we provide best-of-breed decision technology that allows them to manage decision logic without coding. By testing decisions outside of code and application environments, it’s easy to ensure that rules are firing as they should – delivering confidence that your business is compliant with industry regulations.
InRule centralizes decision logic and empowers insurance organizations to run rules anywhere. You can version decisions with effective date reasoning and have the ability to rollback to any point in time.
Ready to learn more?
Read how InRule helps insurance organizations around the world manage their complex decision logic.
You can also download a free trial of our decision platform here.