in'Enterprise Rating
Overview
Accurate rates mean getting the right products to the right people at the right time. With VALOORES in'Insurance in’Enterprise Rating—the adaptive, centralized rating solution for product management and premium calculation — you can quickly react to market changes and effectively manage the policy lifecycle. With VALOORES in'Insurance in’Enterprise Rating, you can augment your legacy systems and centralize rating to a single system. Additionally, because it is Web-based and uses XML and Web services, the VALOORES in'Insurance is flexible and scalable to change and grow with your business with proven run-time and design-time integrations. The VALOORES in'Insurance in’Enterprise Rating solution is a simple, fast, and accurate rating system designed for business users. VALOORES in'Insurance delivers the following benefits:
Key Features
- Improved rating accuracy and reduced risk with a single, centralized rating engine
- Flexible, scalable architecture enables launch and distribution of new products, lines of business, and states
- Versioning allows more flexibility by facilitating the management of multiple product versions supporting various channels, effective dates, or other criteria
- Supports rate table import from all major data stores
- Auditability and reports support governance and regulatory compliance
- Rating worksheet provides a detailed view of the premium calculations
Key Benefits
- Reduces total cost of ownership by creating a single rating engine
- Enhances distribution management by easily integrating with other systems and enabling straight-through processing
- Improves risk management through multivariate pricing and rate analysis capabilities
- Clear visibility into the rating process for more effective risk management and revenue optimization
- Fast, precise rules engine allows carriers to automate underwriting decisions
- Provide regulators and stakeholders a comprehensive view of financial activity and customer risk
