OneWorld Instech Introduces Rating Service – The Latest in the Company’s Series of Microservices Offerings
Rating Service provides consistent and rapid rates simultaneously from multiple systems
OneWorld’s Rating Service rapidly and consistently provide rates simultaneously from multiple systems, whether for use by agents, carrier personnel, or consumers. All OneWorld microservices offerings, like the new Rating Service, are being designed to be compatible with existing carrier environments as well as future blockchain implementations.
The new OneWorld offering is comprised of two components:
- Rating Service Editor - An administration tool used to define, test, manipulate and maintain rate plans.
- Rating Service Engine – The heart of the Rating Service Engine is the Rating Canvas where icons can be dragged from the toolbox or from the data window and then connected to easily create a calculation transaction flow.
Highlights of benefits enabled with OneWorld’s Rating Service include:
- Ability to define, maintain and deploy rating and underwriting rules without the need to write a single line of code;
- Capability to quickly build and immediately test rate plans and continue to refine through an iterative process;
- Processing of quotes and policies in seconds; and,
- Several example rate plans for personal, commercial and specialty lines are available, including the increasingly popular Cyber product.
Commenting on the launch of the Rating Service,
The OneWorld Rating Service component is line of business agnostic. Specialty niche line of business (LOBs) Rating Services can be quickly tailored to meet the current and future needs of the market, helping OneWorld customers differentiate themselves from their competitors.
About OneWorld Instech
OneWorld Instech is a global insurance technology provider offering solutions built on a modern architecture designed to simplify innovation and future-proof insurance processing. The OneWorld portfolio is comprised of microservices offering a range of capability options including Bordereaux management, Specialty Lines rating services such as Cyber and A&H and complete policy processing. The company's offerings can be deployed standalone or integrated with a carrier's or MGA's existing environment. OneWorld's architecture is also designed to support emerging technologies and functionality such as block chain and smart contracts. For additional information call 833.41WORLD (96753) or visit www.oneworldinstech.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180904005072/en/
[email protected]
847.219.4367
Source: OneWorld Instech
Younger workers and women are more likely to be worried about life insurance, less likely to understand its financial benefits, Unum finds
A New Article Explains Where To Get Free Car Insurance Quotes
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News