MGAs Need Comparative Raters!

A 2004 white paper, written by a software development firm, detailed the comparative rating market and it’s impact on the ways insurance companies do business. Within this white paper they detailed specifically how comparative raters would impact the future of rating auto policies, homeowners, general liability and even vacant property policies. They could not have been more accurate .

Take my word for it, Progressive’s approach was no accident !

Properly designed and implemented, comparative raters allow Managing General Agencies to quickly rate multiple classifications across multiple carriers. Profit margins instantly swelled following this discovery due to the fact that retail agents could now visit one web portal and produce multiple quotes, effectively streamlining their work flow and maximizing their time.

The instant feedback allowed retail agents to lower operating costs, gain greater business agility, accelerate the closing of more business and improve the quality for the customer experience .

Rating multiple classifications across multiple carriers was a theory in 2004, today it’s the real deal .

Not only is it for real but Wholesalers and retail agents have leveraged comparative raters to enhance other products . Artisan Rating Software led to General Liability Raters and that led to Commercial Auto Comparative Raters .

With this tried and proven tool any wholesaler, with the right carrier relationships, can comparatively rate virtually everything.

At Click2bind, we specialize in not only comparative raters, but also creating technology relationships with carriers so that, wholesalers can become part of the process and not consumed by the technology.

If your organization is interested in:

Faster Time to Market More Flexibility Within Your Business Model Lower Operating Costs Better XML Integration More Business

Call Us

Where will your firm be tomorrow? It has been 6 years since the comparative business model began its ascent.

Don’t let technology pass you by. Call Us 910-313-3362 – We’d enjoy the opportunity to talk with you.