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Solartis Insure Rating Microservice (Rating Engine)

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Overview

The Solartis Rating Microservice / Engine is an API-centric rating system built from the ground up on microservice architecture. The service is deployed in a cloud infrastructure and can be accessed via API calls from your technology platform or orchestrated with the Solartis full suite of policy life cycle microservices (e.g., submission, rate, quote, refer, bind, ePay, issue, renew, endorse, cancel, reinstate, audit etc.)

Access our rating service via API calls or through a Solartis provided UI/UX (screens).

Supporting Solartis Insure Components:

The Solartis Product Management Toolkit (PMT)

All Solartis Insurance Lines of business/ products are developed and maintained in the Solartis Product Management Tool (PMT). The PMT is built specifically for insurance and just like Solartis Insure, the PMT is built with true cloud services and no legacy applications. Here is a high-level overview of the PMT’s components and capabilities:

  • Create Insurance Products: A new insurance product can be either configured from scratch or can be created from a base insurance product built from scratch or from a bureau-based product like ISO ERC. Solartis contains the complete library of ISO ERC content—Solartis digitally consumes all the ISO ERC countrywide and state-specific files into the Solartis platform. Via PMT, all ISO ERC content (states, coverages, rate tables, algorithms, forms selection rules, and stat codes) are accessible for customers to manage and use. An insurer can view, work, analyze, and manipulate all the ISO data across all states via a graphical representation of the data or through downloadable spreadsheets. An insurer adds its carrier rate and rule exceptions and its carrier-specific forms, then tests and deploys the ISO based product(s) into production.
  • Maintain Product(s): An insurer uses the PMT to manage all aspects of their insurance products; they can create and manage products and product versions, states and state deviations, coverages, rate tables, lookup tables, UI/UX pages and its attributes, all documents, their associated forms, processing rules and algorithms.
  • Test and Promote: Solartis has one environment for development, testing and production. Changes are created, tested, and deployed into production using the PMT by business users without any assistance from DevOps
  • Activity Log: Solartis PMT provides a full audit trail of all changes made to insurance products, as well as who performed the changes and when.

Solartis Application Monitoring Tool

The Solartis Application Monitoring Tool (AMT) allows Solartis to be proactive versus reactive when it comes to potential system issues and / or problems. It is a tool used to monitor all Solartis customers’ production environments. It ensures our rating services is always up and running efficiently. Solartis monitors on a 24/7 basis for potential failures, performance issues as well as failures related to third party system integrations. The system is used by the Solartis Application Monitoring Team and is also extended to Solartis customers so they can monitor their activities themselves.

Solartis Explore

Solartis also provides The Solartis Explore Platform which allows Solartis or the customer to run various “what-if” scenarios on a book of business level versus the individual policy level from either the Solartis Insure Platform or from other third-party systems.

Key Features

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 our Product Management Toolkit (PMT). 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
  • Auto
  • Umbrella
  • 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)

  • Homeowners
  • Dwelling Fire
  • Builders Risk
  • Vacant Property
  • Vacant Land
  • Umbrella
  • Leisure Travel
  • Mobile Phone
  • Jewelry

ISO based Commercial Lines

For carrier admitted insurance products we electronically 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
  • Crime
  • Workers Compensation

Use our Product Management Toolkit to adopt new ISO versions and to configure your carrier exceptions, proprietary coverages, documents and forms.

Key Benefits

  • Support for all your P&C product lines – Personal, Commercial, Admitted and E&S
  • Product Management Toolkit: Toolkit used to initially configure and maintain all aspects of your Solartis Platform
  • Electronic consumption of the ISO ERC (ISO Commercial Lines Content)
  • Use Only the microservices that you need (rating, document production etc)
  • Short Project TimeLine– 60 days or less to configure your products
  • Multi-Channel Support - Use the same microservices in your consumer portals and / or partner technology platforms
  • Lightning Fast Performance – i.e. thousands of vehicles / risks rated within seconds
  • All the benefits of Microservice architecture
  • Solartis rating microservice is accessed via API calls or through a Solartis provided UI/UX (screens).
  • Differentiate Yourself – Ability to create you own User Experience, branding, and business processes

Product/Service details