Monday, February 13, 2012
FROM CUTTING EDGE TO BEST PRACTICE: BENEFITS OF A STAND-ALONE RATING ENGINE
In recent years, decoupling rating from your policy administration system has moved from a cutting-edge approach to an industry best practice. The benefits of a single, stand-alone rating engine—including improved speed to market, effective policy lifecycle management and more competitive pricing—have been cited by industry analysts such as Celent and Gartner. Oracle's adaptive, rules-driven rating system can help you streamline the application process with automated underwriting rules, run impact analysis on potential rate changes, get the same price on a policy every time, regardless of channel, and implement multiple rating tiers so you can accept more business at the right price.