Solartis Insure Rating Microservice (Rating Engine)
Solartis Insure is a collection of Microservices that support the full policy life cycle. Customers can choose to use all of the microservices or just the ones they need.
In this write up we are highlighting our Rating Microservice.
For customers looking for just rating capabilities the Solartis Insure Rating Microservice can be used in carrier existing and new technology systems as well as third party tech platforms. Solartis obtains the required information (to calculate the premium) in a JSON request via an API call. The Solartis microservice returns the needed premium information via a JSON response.
- Solartis supports all Property & Casualty personal and commercial products lines (admitted and non-admitted)
- We consume the ISO content (via ISO ERC) for the ISO based commercial Lines of business.
- Solartis maintains all the State Surplus lines taxes and fees
- Feel free to try out our rating microservices with different product lines (for free) in our sandbox sites https://www.solartis.com/get-started/sandbox/
Solartis Insure Rating Microservice supports all carrier proprietary insurance products and admitted insurance products.
For insurance carrier proprietary products, we configure the product content directly in the Solartis technology.Newly configured products are available in record time. Below are some examples of proprietary product lines we have in production today.
Commercial Lines P&C:
- Property (Fire, Wind, Earthquake)
- General Liability
- Environmental Liability
- Inland Marine
- Package/Programs (including Artisan Contractors, Habitational, Restaurant, Mercantile, and Wholesale)
- Special Events Liability
Accident and Health Product lines:
- Special Events Accident
- Business Travel Accident
- Student Travel Accident
- Sports Team/Camp/School Accident
- Group Accident
- Individual Accident
Personal Lines (P&C)
- Dwelling Fire
- Builders Risk
- Vacant Property
- Vacant Land
- Leisure Travel
ISO based Commercial Lines
For carrier admitted insurance products we consume the full Commercial lines ISO library (Algorithms, Rate tables, forms selection rules, and stat codes) into Solartis Insure using the ISO Electronic rating content.
- Business Owners
- General Liability
- Commercial Umbrella
- Non-filed Inland Marine
- Commercial Auto (CA)
- Commercial Auto – OCP (AU)
- Commercial Inland Marine
- Commercial Package Policy
- Commercial Property
- Workers Compensation
We configure your carrier product exceptions to ISO in Solartis Insure, these carrier product exceptions sit “on top” of the ISO ERC countrywide and state versions, thus preserving the carriers’ deviations upon subsequent updates to ISO rating content.
- Support for all your P&C product lines – Personal, Commercial, Admitted and E&S
- ISO ERC Library – consumed within 24 hours of the ISO version release.
- Use Only the microservices that you need (rating, document production etc)
- Short Project TimeLine– 50 days or less to configure your products
- Multi-Channel Support - Use the same microservices in your partner technology platforms
- Lightning Fast Performance – i.e. thousands of vehicles / risks rated within seconds
- Differentiate Yourself – Your User Experience, branding, and business processes
- All the benefits of Microservice architecture