What is Real Time Rating?
Real Time Rating is the ability for an insurance comparative rater to access carrier information and underwriting logic for the purpose of obtaining an insurance premium on a risk. For an independent insurance agent to enjoy the benefits of real time rating independent insurance agents do not need to buy new and expensive computer hardware – rather a simple update to the comparative rating software is all that is needed. The benefits of real time rating to independent insurance agents are substantial and include:
- Allowing independent insurance agency staff to be trained on a single comparative rating workflow rather than several carrier interfaces that all gather the same insurance rating risk information.
- Enhancement to an insurance agency’s professional image by having one standard web based comparative rater or pc based comparative rater for all of the insurance rating needs.
- Increased revenue for independent insurance agency owners by way of freeing up CSR time for new sales recruiting. No more bouncing from insurance carrier site to insurance carrier site, the comparative rating software will handle all of that for your CSR.
- Customer service becomes easier as all current policy information is available at the fingertips of the CSR
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