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Save Time and Resources: How to Rate Policies in Real-Time

Increase competitiveness and profitability

Each year, insurance carriers and their vendors spend countless hours updating their rating data to stay current with changes in the industry. It’s time-sensitive, intensive work that’s prone to error involving precious resources to analyze, evaluate and install these changes within their rating systems. But what if there was a better way to handle this process, effectively rating policies in real-time, without a major technological investment?

The good news is that way exists. Rating-as-a-Service (RaaS) is a new cloud-based rating solution that allows insurers to send applicable rating inputs via API, which are then applied to ISO’s loss costs and rating algorithms to generate a quotable premium. RaaS, powered by ISO Electronic Rating Content™ (ERC), is a rating engine that lets insurers easily implement the most recent rating information into their workflows allowing them to help reduce costs, increase efficiency and boost speed to market.

You’ll learn about:

  • The evolution of rating
  • How to customize ISO-based programs
  • What early adopters of RaaS are saying
  • How to increase employee engagement and productivity while enriching­ insurance products
  • And more!

View the webinar

How Verisk can help

Rating As A Service

How Verisk can help

Recognizing the deep industry need for a solution that gives insurers the rating content they need from day one, Verisk has introduced Rating-as-a-Service (RaaS), a revolutionary new way to access ISO Electronic Rating Content™ (ERC™). RaaS is a fresh new way of thinking about rating. Effectively rate your policies in real time—without a major information technology investment. When you use ERC via RaaS, you get the information you need to rate a policy, including the statistical codes and form attachment logic.

Now, instead of spending time analyzing and implementing the ISO Commercial Lines Manual and Circulars, you can invest that effort in growing your business. Whether you’re starting a new line of business, expanding into new states, or seeking to boost efficiency from top to bottom, RaaS can help deliver results faster.

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