Underwriting and rating software manages the underwriting process for insurance agencies. These solutions automate large portions of the underwriting process, reducing the need for underwriting support by employees.
Underwriting and rating solutions allow users to write in rules and policies that are executed automatically during the underwriting process. These applications can then conduct pricing and rate analysis, calculate premiums, standardize quotes across channels, and vary rates according to risk and policy information.
Underwriting and rating software typically integrates with insurance agency management software to further ease insurance operations.
To qualify for inclusion in the Underwriting & Rating software category, a product must:
Calculate insurance premiums
Include variable underwriting and rating rules
Manage underwriting tasks
Create auditable underwriting and rating document trails