Jarus Rating Engine is a calculation engine that evaluates the risks and computes premiums based on the rates and the rating logic that apply for each risk.
Maintain rates and rating logic using the Product Configurator. Version and audit with change management.
This product is easily extensible by mixing and matching custom code, such as an insurer’s unique way of making driver assignments.
Perform rate testing and histogram comparisons to easily understand and view the effect of rate changes.
Create custom rate tables using the web UI and specify columns, order and data type. Lookup rates using an exact match or get interpolated rates. Specify rates for each additional amounts.
Compute premiums at coverage, risk item and product/policy level.
Compute premiums at coverage, risk item and product/policy level. Analyze the steps and results in detail, using rate logs.
Maintain rates, rating logic and different business rules using the Product Configurator. Clone, version and audit with change management.
Support rules and rating for monoline and multi-line package policies seamlessly.
Import/Export rules and rate data using Excel to add new or edit existing ones effortlessly.
Easily incorporate state, company, LOB and coverage exceptions through the web-based user interface.
Make majority of changes to rating steps, rate data and business rules with no minimal coding.
Use Excel like syntax - for example “Min”, “Max” for rating, and “Refer”, “Reject” for rules.
With a very minimal learning curve business users and analysts can define workflow, products definitions, rating logic and rules.
Mix and match rules and rating components with other best-of-breed solutions. Replace only what you must.
Web-based UI externalizes rating logic, business rules and configurations.
Shrink time-to-market to implement rating for new states and products. Quickly introduce rate, rule and form changes.
Separates ‘what’ and ‘when’ from ‘how’ without any special syntax, resulting in simplicity and readability.
Obtain sub second performance. Fast enough to rate and present quote options to upsell.