RaaS Changes the Rating Game

Jan 9, 2023

Each year, carriers spend countless hours applying changes to their rating content. It’s time-intensive work requiring precious resources to load only a fraction of these changes into their own rating engine. By digitizing this content, carriers can accelerate the adoption of rating changes and bring their products to market more quickly.

In this episode of “Filling the Gap,” Mark Sheehan, vice-president of Underwriting Solutions at Verisk Analytics, reviews the benefits of RaaS and the impacts it makes on rating. You’ll learn:

• The evolution of rating, how Rating-as-a-Service works;
• How digitization of rating content is benefiting carriers;
• How Rating-as-a-Service is increasing employee engagement and productivity, while also enriching the carrier’s insurance product;
• What early adopters are saying about Rating-as-a-Service.