Is the process of updating your commercial lines rating content keeping you up nights?
Whether you want to stay current with frequently changing loss costs, rating factors, rules, and coverage updates, or keep pace with evolving market conditions and regulatory changes, there are a number of reasons why you’d want to update your rating data. But it’s not a process you can just sleepwalk through. Between interpreting complex rating information or building and testing new rating tables, incorporating rating updates into your workflow can entail significant time and expense.
But not keeping your rates up to date can lead to a nightmare of surprise claims, premium leakage, and a portfolio that’s accumulating policies that are out of sync with underlying market realities.
Want to sleep easier? With our new cloud-based rating engine, ISO ERC™ Rating-as-a-Service, you can make a rating call and receive the results without having to install or maintain Verisk rating content or your own rating engine. A single API delivers rating information into your internal systems directly from the source—Verisk.
It’s technically a cloud rating engine, but as our sleepy insurance professional below would tell you, it’s really a dream come true.