Results International Systems Inc. (RIS), a full service outsourcer offering complete Web-enabled processing solutions to the Property & Casualty industry, has unveiled its new rating engine, the first module in the RIS Artius project.
Unlike traditional raters, the Artius approach delivers a complete ‘rating environment’ that empowers pricing and business analysts to create rating routines and rate tables on the fly and to test them with built in testing and debugging tools. The Artius rating environment eliminates the heavy user reliance on programmer resources found with traditional rating processes. Ease of use is combined with the power to solve one of the most pressing problems facing today’s company—how to quickly and easily develop, test and implement rate and rating routine changes. The Artius rating environment is currently being implemented for the newest RIS outsourcing customers, and is also available to the industry through a traditional software license model. With interfaces developed using the ACORD XML standards, the Artius rating environment is platform independent, enabling implementation across a wide variety of policy processing environments.
Highlights of the Artius rating environment include: one rating engine runs on multiple platforms, new rates upload directly from a spreadsheet to the rating environment, and “building-block” design speeds development of rating routines, and reusable rating routines.
Was this article valuable?
Here are more articles you may enjoy.
London Broker Howden Plots Giant Capital Raise on IPO Path 
Majority of Small Business Are Underinsured as Other Expenses Prioritized 
Insurers Must Defend Hotels Accused of Sex Trafficking of Minors 
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers From This Issue
