Insurance Rating Software Saves Time & Money

Time is money is the old saying and it applies to customers now more than ever

, as people are easily frustrated when they cannot get instant results when trying to get information, such as quotes or rates for insurance. The old way of having to shop site by site in order to compare pricing is flawed. By using the latest technologies to obtain accurate rates in a fraction of the time it would take to visit each carriers rating software, its a win-win situation for everyone involved.

Real-time rating is a technology that provides a seamless connection between the wholesalers and the carriers systems. The software transmits the quote data directly to the carrier, who in turn calculates the rate on their server, then transmits the premium information back to the consumer.

This is the most valuable service an insurance company can offer their agency customers in order for them to find the coverage they need for the best price through analyzing several insurance companies in a short span of time. Insurance rating software makes it easy to provide this analysis within seconds of the customers request.

All a company representative needs to do is to type the quote information into the the rating software, and built-in underwriting rules are applied automatically allowing them to receive multiple, accurate quotes instantly. This program will eliminate the need to enter quote information into multiple companies websites decreasing the opportunity for data entry errors.

Increase revenue: Increase agency revenue by decreasing the time necessary to quote a policy thus giving producers and customer service representatives more time for new sales and account rounding activities.

Save time: Save time and money by creating standard workflows, lowering the amount of employee training needed and removing duplicate data entry through a home or auto comparative rater.

Improve efficiency: Improve agency efficiency by using this innovative softwares extensive reporting capabilities.

Latest technologies: Insurance rating systems use the most up-to-date technologies to provide companies with multiple carrier quotes in an average of four seconds.

Whether its for commercial auto, workers comp or general liability risks, the system works fast and accurately, making the most valuable benefit of an independent agent, access to multiple carriers, even more important. If an agency is licensed to sell insurance in multiple states, they can easily do so on a regular basis. The rate is 100% accurate because the carrier is the one actually developing the rate.

by: Tom R Banks

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