{"id":1778,"date":"2025-04-11T07:59:18","date_gmt":"2025-04-11T07:59:18","guid":{"rendered":"https:\/\/dev.opendesignsin.com\/insillion\/?page_id=1778"},"modified":"2026-01-12T07:48:04","modified_gmt":"2026-01-12T07:48:04","slug":"rating","status":"publish","type":"page","link":"https:\/\/dev.opendesignsin.com\/insillion\/products\/rating","title":{"rendered":"Rating"},"content":{"rendered":"

Rating<\/h1><\/div>

Empower business and underwriting teams to manage rates
\nusing low-code tools and Excel.<\/p>\n<\/div>

Get in touch<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>

Rating Engine<\/h5>\n<\/div>

Real-time enterprise rating for insurers<\/h2><\/div>

Build and adjust insurance products quickly to keep pace with market demands.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Market responsive<\/h4><\/div>
<\/div>
\n

Make rate changes while maintaining IT
\ngovernance with maker-checker models.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Existing Resources<\/h4><\/div>
<\/div>
\n

Utilize existing Rater and Actuarial Excel to
\nbuild a flexible rating engine.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Decoupled Rating<\/h4><\/div>
<\/div>
\n

Externalize rating as a standalone
\nmicroservice, allowing adjustments without
\nimpacting core systems.<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>

Approaches to Rating<\/p><\/h2><\/div>

Customize rate management approach based on existing
\nsystems and the needs of business and underwriting teams.<\/p>\n<\/div>

\"\"<\/div>

Rater to Rating API<\/h4><\/div>
<\/div>
\n

Create new products by converting premium and rating logic present in
\nRater Excels into APIs to be consumed by existing and external systems.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Existing BREs<\/h4><\/div>
<\/div>
\n

Integrate portals generated by Insillion or third-party partners with existing\u00a0Business Rule Engines for rating and premium calculations.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Third-Party Rating Services<\/h4><\/div>
<\/div>
\n

Integrate with external rating services such as ISO, and AAIS to enrich underwriting processes.<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div>
<\/span><\/div><\/div><\/div><\/div><\/div>
Low code rating software<\/h5>\n<\/div>

Rate management<\/h2><\/div>

Advanced tools for IT and business teams to manage rates efficiently.<\/p>\n<\/div><\/div><\/div>

\t
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\"\"<\/div>

Configurator<\/h4><\/div>
<\/div>
\n

Accept submissions and FNOL via email,
\nportals, or API integrations.<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t\t\t\t
\r\n\t\t\t
\r\n\t\t\t\t\t\t\t\t
\"\"<\/div>

Versioning<\/h4><\/div>
<\/div>
\n

Rater-Excels linked to in-force policies<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t\t\t\t
\r\n\t\t\t
\r\n\t\t\t\t\t\t\t\t
\"\"<\/div>

Rate Modifiers<\/h4><\/div>
<\/div>
\n

Construct referral triggers using a mix of or
\nonly Excel-logic and complex code<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t\t\t\t
\r\n\t\t\t
\r\n\t\t\t\t\t\t\t\t
\"\"<\/div>

Test Environments<\/h4><\/div>
<\/div>
\n

Trial and test new rate-books before
\ndeployments.<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t\t\t\t
\r\n\t\t\t
\r\n\t\t\t\t\t\t\t\t
\"\"<\/div>

Scale<\/h4><\/div>
<\/div>
\n

High availability architecture based on CAT
\nevents<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t\t\t\t
\r\n\t\t\t
\r\n\t\t\t\t\t\t\t\t
\"\"<\/div>

Referral Triggers<\/h4><\/div>
<\/div>
\n

Construct referral triggers using a mix of or
\nonly Excel-logic and complex code<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t\t\t<\/div>\r\n\t\r\n\n<\/div><\/div><\/div><\/div><\/div>
Rating Solutions<\/h5>\n<\/div>

Industry-Specific Solutions<\/h2><\/div>

Product-based rating templates for faster product launches and updates.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Life Insurance<\/h4><\/div>
<\/div>
\n

Convert Rater-Excels into Benefit Illustration
\ncalculation APIs to share with distribution
\npartners.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Commercial Lines<\/h4><\/div>
<\/div>
\n

Give business teams control over master data,
\nvalidations, and referrals with low-code
\nconfiguration.<\/p>\n<\/div><\/div><\/div>

\"\"<\/div>

Health Insurance<\/h4><\/div>
<\/div>
\n

Prefill and enrich rating parameters using
\nintegrated third-party data for more precise
\nunderwriting.<\/p>\n<\/div><\/div><\/div>

<\/div><\/div><\/div><\/div><\/div><\/div>

Frequently Asked
\nQuestions<\/h2><\/div>

Questions you might ask about our products and
\nservices.<\/p>\n<\/div><\/div><\/div>

<\/i><\/i><\/span>How does Insillion generate Rating APIs from existing Rater-Excels?<\/span><\/a><\/h4><\/div>
\n

Insillion automatically converts the premium logic and rate tables from uploaded Rater-Excels into a RESTful API. Internal portals, partner systems, or existing core systems can then consume these APIs.<\/p>\n<\/div><\/div><\/div>

<\/i><\/i><\/span>What happens to the existing Rater-Excel when implementing Insillion? <\/span><\/a><\/h4><\/div>
\n

When a Rater Excel is uploaded, Insillion converts its logic into JavaScript code used by the rating engine for real-time calculations. The original Excel is no longer executed at runtime. Once the code is generated, the system maintains traceability to the source of Excel but executes only the transformed logic.<\/p>\n<\/div><\/div><\/div>

<\/i><\/i><\/span>How does Insillion\u2019s version management for Excel-driven rating work?<\/span><\/a><\/h4><\/div>
\n

Every time a Rater\u2011Excel is uploaded, Insillion versions it. Each version is linked to in\u2011force policies, captures inputs, outputs, and rating logic, and supports rollback or comparison ensuring full traceability and governance.<\/p>\n<\/div><\/div><\/div>

<\/i><\/i><\/span>What are the benefits of externalized rating for personal and commercial lines?<\/span><\/a><\/h4><\/div>
\n

By externalizing their rating in a separate insurance rating engine, insurers can easily make changes to rates and test them against their existing book of business using UI-based configuration. This approach reduces the need for custom code or specialized resources. For commercial lines, they can also integrate with Business Rule Engines (BREs) to maintain master data, which simplifies the process of changing rates.<\/p>\n<\/div><\/div><\/div>

<\/i><\/i><\/span>Can insurers make granular level configuration to rates via an insurance rating engine?<\/span><\/a><\/h4><\/div>
\n

Yes, a flexible insurance rating engine allows insurers to define rates at an extremely granular level. For example, with\u00a0<\/span>Insillion’s<\/span>\u00a0insurance rating engine, commercial property insurers can define rates and rate modifiers at the national, state, zip code, and zone levels.<\/span><\/p>\n<\/div><\/div><\/div>

<\/i><\/i><\/span>What are the different approaches to Rating present in Insillion?<\/span><\/a><\/h4><\/div>
\n

Insurers and MGAs have three different approaches to rating within\u00a0<\/span>Insillion<\/span>. First, for products with minimal rate changes, the logic can be contained within the Rater-Excel itself. Second, for products with more dynamic changes, rates are\u00a0<\/span>maintained<\/span>\u00a0using\u00a0<\/span>Insillion\u2019s<\/span>\u00a0insurance rating engine. Third, for products that rely on external logic, insurers can integrate with third-party rating systems via APIs.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":1631,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"100-width.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1778","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/pages\/1778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/comments?post=1778"}],"version-history":[{"count":54,"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/pages\/1778\/revisions"}],"predecessor-version":[{"id":4122,"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/pages\/1778\/revisions\/4122"}],"up":[{"embeddable":true,"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/pages\/1631"}],"wp:attachment":[{"href":"https:\/\/dev.opendesignsin.com\/insillion\/wp-json\/wp\/v2\/media?parent=1778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}