Stand Alone Rating Engines Global Edition Report

This report is a comprehensive analysis of stand-alone rating engines available in North America for life and property and casualty insurance carriers. It profiles 16 different rating engines, detailing their functionality, customer base, lines of business supported, technology, implementation, pricing, and support. The report aims to assist insurers in defining their core rating engine system requirements and serves as a preliminary step toward creating a shortlist of vendors for evaluation. The document outlines the significant innovations occurring in product management within the insurance industry, highlighting the need for carriers to efficiently manage rates and navigate regulatory environments. It discusses the advantages of using external rating engines, such as improving productivity and speed-to-market, while also addressing the complexities associated with older policy administration systems. The report emphasizes the importance of intuitive configuration environments and robust product architectures in modern rating engines, enabling carriers to adapt to changing market demands effectively.