pasRater.Net is an online software solution that provides insurance agents and carriers with a robust rating and underwriting engine that provides instantaneous calculations to any policy management system for any line of business. The pasRater.Net software, like all Policy Administration Solutions Inc. products, operates online in real-time.
The entire line of Policy Administration Solutions Inc. products can be integrated together creating a complete end-to-end solution. Which means that each software solution, including pasRater.Net, can be integrated with other PAS software or the software can serve as a stand-alone software solution, giving you tremendous flexibility in terms of how you utilize the solution.
Leverage Artificial Intelligence and Predictive Analytics
Traditional methods of rating and underwriting risks are slow and cumbersome, they also are inaccurate and filled with human errors. The inefficiencies within the traditional rating systems result in lost revenue, potential of accepting risks that a company should not and wasted time. However, pasRater.Net removes human error and speeds processing time by utilizing AI and predictive analytics to provide pricing quickly while supporting dynamic underwriting guidelines.
In short, pasRater.Net allows you to work more efficiently and spend more time scaling your business and less time performing tasks that can be automated. pasRater.Net can also give you tremendous flexibility by performing multi-line, multi-state, and multi-location rating on a single policy. pasRater.Net enables you to import and export rating tables, manage, and maintain rating algorithms so that you have total control over the rating and underwriting process.
Automate the Entire Rating Process
In today’s insurance world, the key to growing and scaling your business is automation. When you can automate repetitive tasks, you are able to grow without having to proportionally increase expenses. This means that you are getting more production for less money. Automation also frees up your employee’s time so that they can focus on building relationships, networking, and lead generation instead of processing paperwork.
pasRater.Net can automate the entire rating and underwriting process starting when a customer requests a quote to when they are ready to renew their policy later. pasRater.Net supports uploading of Policies and Transactions, running them through the rating and underwriting engine and downloading the results in bulk to facilitate testing of a new rating and underwriting changes. All of this gives you the power to analyze large data sets in one convenient location to make informed decisions.
As a specific area of automation, pasRater.Net can compare rating and underwriting plans from many different carriers all in one place so that your agency can compare plans with ease and in turn renter comparative rating results. The software can set carrier-specific defaults so that you do not have to enter repeated information, instead you can set it once and save time.
Advanced Testing and Modeling Capabilities
pasRater.Net is more than just a simple rating engine, it also has advanced modeling capabilities that enable you to predict what will happen. This includes displacement testing which allows you to run a new proposed rate using your current Policies and Transactions so that you can have an idea how the proposed changes will impact the bottom line. Being able to predict what will happen using large data sets will take the guesswork out of making changes within your rating and underwriting solution.
Learn More About pasAgentPortal.Net
Policy Administration Solutions Inc. offers a full line of products designed to automate every step in the insurance process. If you are ready to fully automate your insurance company reach out here to get started or to request more information.
