How do you determine a premium for an account? Well, it requires a lot more than simply rating. Underwriting criteria should be a major component of the calculation process. Additionally, the rating engine needs to be able to handle the automated demands of cancellations, endorsements and other policy term changes. This should all take place on the front end of the system.
On the back end, effective rating programs and modules must easily foster the transfer of data to relevant third parties. This aids in administrative tasks like generating forms and issuing policies. MGAUs, insurance carriers and program administrators must gather statistical data on policies and give that data to reporting agencies. This can be an arduous and meticulous task as you navigate large amounts of data.
What Is the Solution?
NetStat automatically will generate ISO statistical codes for each and every transaction that filters through the system. This eliminates the need to convert data coverage into an ISO format. Skipping this tedious step can save you hours that would be better served in other areas of your job. Furthermore, reports can be custom designed to match exactly with your company’s preferred format.
Make your life as a MGA, program administrator or insurance carrier a little bit easier with Netstat. The program will speed up the process of data collection and statistical analysis so you can focus on other important tasks.