22+ Underwriting & Rating Software

1. Applied Epic

Details

Rating: 5/5

Price: $1000/year

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2. Oracle Insurance Insbridge Enterprise Rating

Details

Rating: 4.3/5

Price: Custom

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3. PL Rating

Details

Rating: 5/5

Price: Custom

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4. QuoteRush

Details

Rating: 4.5/5

Price: $65/month

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5. Applied Rater

Details

Rating: 4/5

Price: Custom

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6. BriteCore

Details

Rating: 5/5

Price: Custom

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7. Guidewire PolicyCenter

Details

Rating: 4.7/5

Price: Custom

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8. TurboRater

Details

Rating: 4.3/5

Price: Custom

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9. QQWebRater

Details

Rating: 5/5

Price: Custom

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10. ACS 2000

Details

Rating: 5/5

Price: Custom

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11. AIM

Details

Rating: 5/5

Price: Custom

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12. AQS Quoting Software

Details

Rating: 5/5

Price: Custom

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13. Compulife Quote

Details

Rating: 5/5

Price: FREE

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14. EZ-RATER

Details

Rating: 5/5

Price: Custom

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15. E!Z Work Comp Rater

Details

Rating: 5/5

Price: Custom

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16. IFoundry Rating Engine

Details

Rating: 4.5/5

Price: Custom

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17. InsurQuote

Details

Rating: 4.8/5

Price: Custom

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18. LexisNexis Current Carrier

Details

Rating: 4.5/5

Price: Current

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19. LifePipe

Details

Rating: 5/5

Price: Custom

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20. OpenUnderwriter

Details

Rating: 3.5/5

Price: Custom

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21. QuoteBreeze

Details

Rating: 4.7/5

Price: Custom

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22. Ratabase

Details

Rating: 4/5

Price: Custom

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23. SmartRater

Details

Rating: 5/5

Price: Custom

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What Is Underwriting & Rating Software?

Underwriting & rating software is an insurance software where insurance agents manage the underwriting process in insurance claims and pricing. The underwriting rating software allows insurance agents to create rules and policies that are to be enabled automatically once they are written with the software’s automation capabilities.

Benefits

Underwriting & rating software helps insurance companies to effectively manage and keep track of their underwriting process during insurance opening hours. As the bass underwriters rating software is hugely automated, it helps ease the burden and time for employees when creating rules and policies in insurance management. Through the automation capabilities of the underwriting and pricing of insurance software, the insurance underwriting software can establish the quote pricing for insurance services as it can calculate insurance premiums which can vary according to the policies that are created through the mortgage underwriting software.

Features

Underwriting & rating software should provide tools that allow insurance agents to calculate insurance premiums effectively. The loan underwriting software should also provide policy management software tools that allow them to underwrite policies and rules about insurance policies. The automated underwriting software should also be able to allow agents to manage their underwriting tasks effectively. The commercial underwriting software should be able to allow insurance agents to create auditable underwriting documents. The underwriting platform should also enable the insurance agents to rate document trails related to insurance premiums and other insurance-related documents.

  • Calculate insurance premiums
  • Write rules and policies through policy management tools
  • Manage underwriting tasks
  • Create auditable underwriting documents
  • Rate insurance document trails

Top 10 Underwriting & Rating Software

1. IFoundry Rating Engine

IFoundry Rating Engine’s bureau rating and analytics software allow insurance companis to model their rate plans simply. IFoundry Rating Engine is owned and developed by Value Monetum, which the parent company has 1,845 employees and earns annual revenue of $267.5 million.

2. Oracle Insurance Insbridge Enterprise Rating

Oracle Insurance Insbridge Enterprise Rating enables insurance agents to improve their marketing strategies in insurance. Oracle has 132,000 employees and earned a revenue of $40 billion in 2021.

3. InsurQuote

InsurQuote helps insurance agents to quote their prices effectively using data activity tracking capabilities. InsurQuote is owned and developed by LexisNexis, which the parent company has 11,449 employees and earns annual revenue of $1 billion.

4. PL Rating

PL Rating provides real-time rating and underwriting software that allows them to beat their competitors with ease. PL Rating is owned and developed by Vertaforce, which the parent company has 2,055 employees and earns annual revenue of $298 million.

5. LifePipe

LifePipe enables insurance agents to quote pricing for insurance plans quickly with high accuracy. LifePipe is owned and developed by iPipeline, which the parent company has 641 employees and earns annual revenue of $92.9 million.

6. QQWebRater

QQWebRater enables insurance companies to automatically quote their pricing with ease. QQWebRater is owned and developed by QQ Solutions, which the parent company has 55 employees and earns annual revenue of $8 million.

7. AQS Quoting Software

AQS Quoting Software’s quoting software enables insurance companis to extensively quote pricing for insurance plans with ease and high accuracy. AQS has around 25 employees and earns a revenue of around $5 million.

8. Compulife Quote

Compulife Quote’s life insurance quote software is proven reliable by insurance agencies thanks to its accurate insurance pricing system. Compulife has around 25 employees and earns annual revenue of $5 million.

9. Ratabase

Ratabase’s rating and underwriting software allow insurance companies to configure and quote price rates for insurance plans easily. Ratabase is owned and developed by CGI, which the parent company has 64 employees and earns annual revenue of $6.4 million.

10. QuoteRush

QuoteRush allows insurance agents to quote their insurance pricing at an affordable price. QuoteRush has 8 employees and earns annual revenue of $1.2 million.

FAQs

What other software integrates well with underwriting and rating software?

Underwriting and rating software usually integrates well with insurance agency management software as it can help insurance companies simplify their insurance-related operations as well as manage other aspects of managing the insurance operations.

How much does underwriting & rating software cost?

Pricing for underwriting & rating software is usually customized, with each software offering different subscription tiers that offer more features as the prices increase. Pricing for underwriting & rating software varies depending on the features available and the intended target insurance companies. Small insurance companies may benefit from low-cost underwriting & rating software while large companies may benefit from high-cost software.


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