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Home > Products >
PrimeRater™ Insurance Rating Engine
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Finally ... an accurate, high-performance rating solution that can be maintained
by your own staff ...
The PrimeRater™ Rating Engine is an XML-based comparative rating component for
property/casualty and life/health insurance products. It will evaluate the
information for a submitted risk, compile a list of companies
that are willing to insure the risk and calculate the premiums
for the requested coverages. The resulting quote information
can be displayed in an agency point-of-sale system or on a
carrier or aggregator Web site, or it can be exported to
a rate comparison tool.
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Features
Rates All Major Lines
| Personal |
Commercial |
| Personal Auto |
Business Owners Policy (BOP) |
| Homeowners |
Commercial General Liability
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| Dwelling Fire |
Commercial Auto |
| Renters |
Contractors Liability |
| Mobile Home |
Inland Marine |
| Condominium |
Workers Compensation |
| Life & Health |
| Medical |
| Dental |
| Term Life |
| Accidental Death & Dismemberment |
Available for All 50 States
Impeccable Accuracy
Rates are based on the rules specified by your actuaries
and underwriters, not an interpretation of an intermediary
Double precision floating point calculations with
explicit rounding
Customizable Comparative Rating
From a single request, generate quotes for multiple
companies
program tiers
terms
coverage combinations
Point-of-Sale Underwriting
Eliminate unacceptable risks with precisely defined
underwriting rules. Without relying on expensive custom
programming, in-house analysts can devise rules such as:
| "Company does not allow drivers under age 21
who had any alcohol-related traffic violations." |
| "Don’t accept homes built prior to 1945 that
are in protection class 9 and have a wood stove." |
| "Don’t offer collision coverage for Yugos
or Ferraris" |
Unprecedented Versatility
Define any kind of coverage
Rating factors can be based on any attribute of the
submitted risk
Multiple locations
Freely configurable risk classes
Simplified Rate Development
Rate tables can be maintained by your actuaries and
underwriters, without the need for custom programming
Graphical rate design tool
Unique “top-down” methodology allows the simplified
creation of even the most complex rating rules
Rules and tables can be shared among rate plans,
avoiding errors and duplication
Roll out new products in days instead of weeks or months
Rich Set of Pre-Built Business Rules
Driving record evaluation
Driver/vehicle assignment
Support for ISO territories
Scheduled personal property
Discounts and surcharges
Fees and taxes
Customizable billing plans
Building blocks for designing insurance
products
Enterprise-Class Performance
Designed for use on high-traffic Web sites
Not having to rely on database lookups to perform the
rating, true scalability can be achieved
Simplified Back-End Integration
Data interchange via XML
Java-based API
Metadata model allows existing policy structures to be
mapped with minimal effort
If you are a carrier, managing general agent or a
financial institution and you would like to quote and
sell insurance policies on the Internet, call us at (619) 406-7000
or e-mail sales@westb.com
to schedule a free initial consultation.
Our experienced e-commerce consultants will be happy to
discuss with you how our solutions can prepare your
company for the future of online selling.
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