Insurance Rating System
Oceanwide’s rating engine is both sophisticated and easy to use. Business users can quickly and cost-effectively create, update and modify your rates, rate drivers, and rating rules.
Customize your own rates, and plan rates in advance, testing your planned rates against existing book of business, and evaluating underwriter rates against suggested rates.
Insurance Rating System Functionality
Bridge’s intuitive, built-in insurance rating engine enables:
- Variable underwriting and rating rules based on any combination of risk and policy information
- Calculation of all premiums by coverage using any combination of flat amounts, rates, multipliers, modifiers, factors, discounts, surcharges and minimums
- Tracking and validation of variance from standard or guideline rates
- Specific currency and rounding rules
- Calculation of all taxes or other applicable fees
- Plug-in integration to ISO rates or other external insurance rating engines
- Review of rating workbook and details for any quote or policy in the system
Please go to our homepage to find out more about Oceanwide's insurance rating engine module.