Category Archives: Insurance Rating Engine

How Managing General Agents Benefit From Automated Rating

As a managing general agent you know the importance of understanding insurance contracts, specialty markets, negotiating commissions, and issuing policies. A comprehensive rating system will assist you in doing your job more timely and effectively. Many managing general agents are realizing the value of having an Automated Insurance Rating System. Learn for yourself why this is a tool of choice for many successful agents and how to get yourself in the loop.

Why Automated Rating?

If you’re like many managing general agents around the country, you might still be using old rating technology that is a component of many policy administration systems. Other common rating systems include a retail agency system. These tend to be unsatisfactory for agents as technology continues to advance. When it comes to customization, renewal transactions, and mid-term policy changes, these systems fall short.

A comprehensive Automated Insurance Rating System gives you the tools you need, such as:

  • Efficient data sharing
  • Easily integrated with existing policy administration systems
  • Custom output such as printouts and forms
  • Automatic updates of carrier rates
  • A professional consulting team and web services

Every managing general agent deserves a system that works efficiently and helps him or her perform the job effectively. It’s easy to get a rating system integrated into your policy administration system or replace your retail agency system. Improve your work with an Automated Insurance Rating System.

A Uniquely Customizable Insurance Rating Engine

A Uniquely Customizable Insurance Rating Engine

If you’re an MGA, Insurance Carrier or Program Administrator in search of a versatile, customizable rating engine, the NetSYNERGY system can make your rating process more effective, efficient and profitable. This “black-box” engine gives users the option of putting their own brand name as the face of the engine, while NetRate provides all the technology and back end support. Customers receive a ready-made product that fits their individual needs and requires no committed IT resources. Users can customize the look of the interface as well as its functionality, creating adaptations that tailor the software to the company’s specific needs and customers.

NetSYNERGY users also have access to other NetRate Systems components, including:

  • NetRATE XML — Provides complete documentation of supporting information needed to map user interface fields, rates and premiums.
  • NetRate ISO Classification Lookup — Enables rapid lookup for ISO classification, including support resources for updating to the most current ISO changes.
  • Zip Code/Territory Matching Modules — Provide location-specific data for the most accurate information.
  • Consulting Services — Offers personal assistance with implementation of the service, including technical support and detailed training.

The NetSYNERGY system is applicable to all types of ISO-based businesses, including General Liability, Commercial Property, Commercial Auto, Crime, Garage, Inland Marine and Business Owners Policy. It covers all 50 states. It is a powerful but easy to use tool with the agility to adapt to industry and business changes.