RULEBOOK FOR PRICING
RuleBook for Pricing is a product line agnostic, pricing and quoting tool for the Insurance industry that has been specifically designed to replace the myriad of pricing spreadsheets that are prevalent across the Lloyd’s and London market.
RuleBook offers all the self-service capabilities of a spreadsheet-based solution, whilst providing the surety and auditability that can only be delivered through an enterprise-level application. The tool also provides a web-based user interface that allows pricing models to be distributed to underwriters internally, and partners outside the organisation, in a controlled and efficient manner.
BENEFITS OF RULEBOOK
- Make better underwriting decisions - ease of creation enables quicker reaction to change
- Price your business better - ability to stress test provides confidence before publishing
- Have greater access to business channels - distributable internally and externally by web-based interface
- Improve underwriting efficiency - integrates with policy administration and MI systems providing information for decisions
- Manage underwriting risk - improved surety and audibility to meet compliance and regulatory requirements
RULEBOOK FOR DELEGATED UNDERWRITING
RuleBook for Delegated Underwriting is a simple and intuitive tool for mapping and transforming bordereau submissions into a consolidated database. The sophisticated rules engine can also be used to validate data quality, as well as to perform complex business calculations. DUAs are then able to log into a secure web portal where they can manage the bordereau submission process with little to no support from the carrier.
In addition DUAs have the option to write business directly through the RuleBook web portal giving greater control of the delegated underwriting process, helping to enforce the terms of the binding authority. Alternatively, RuleBook can be integrated with existing DUA systems via a web services interface.
However the business is submitted, the resultant risks, premiums and claims are stored centrally for consolidated reporting and MI. The result is a more robust and efficient delegated underwriting process.
RuleBook's powerful rules engine can be used to author and publish a wide range of services. The RuleBook Authoring tool can be used to create and manage complex business rules that are often challenging to implement in traditional policy admin systems. For example, RuleBook can been used to deliver the following:
- Incepted and earned premiums
- Excess of Loss reinsurance apportionment
- Technical Provisions for SII returns
- ULR apportionment for low-grain forecast to ultimate projections
- Budget/forecast allocations for Lloyd's SBF returns
Futhermore, RuleBook Services can be integrated with the Moore Stephen's Insurance BI Framework, allowing the business to manage and maintain complex calculations as part of the data warehouse load process.
- Dynamic charting for loss curves
- Tablet and Ipad ready
- Partnership with Microsoft Azure
NEWS and EVENTSWidening Distribution Channels Video - Paul Latarche, talks about the growing trend amongst insurance carriers to widen distribution channels through using the latest technology https://www.insuranceday.com/video/widening-distribution-channels.htm
Operational efficiencies drive e-placement support - Matthew Norris from Beazley discusses the benefits of brokers and underwriters engaging on an electronic platform https://insuranceday.wistia.com/medias/plrwe5vfkr
Contact firstname.lastname@example.org or call +44 (0)207 6511765 for assistance