Posted on 15 Feb 2011
NetRate Systems, Inc. (Okemos, MI), a leading supplier of ISO® Commercial Lines Rating software for the MGA and carrier marketplace, has announced the availability of NetPPS, the NetRate Policy Production System module. NetPPS is a program which, in close integration with the NetRate Rating System, provides the capability of producing printable policies including ISO and company-specific forms
To facilitate the NetPPS System, NetRate has extended their Business Partnership with ISO® by licensing a significant suite of Policy Forms, including those for Commercial Auto, General Liability, Commercial Property, Crime, Inland Marine, and Businessowners lines of business, as well as InterLine forms used across multiple lines of business. Other line of business forms will be licensed as demanded by the marketplace. Company-specific forms are also available as a custom feature
An important facet of the NetPPS system is the incorporation of business rules transparently within the system. The business rules will direct such functions as policy form order of assembly, tying of specific forms to specific risk classes and/or states, and generation of data input capability for non-rating-related data. The business rules, which can vary between carriers, are worked out as part of the implementation process by NetRate forms specialists in conjunction with customer subject matter experts. The business rules are then added into tables which drive the process automatically, without operator intervention.
The key feature of the NetPPS system lies in its tight integration with the NetRate Property & Casualty Rating System. All client and rating data entered into the NetRate Rating System is seamlessly mapped to appropriate forms within the NetPPS. Coverage limits, deductibles, premiums, and a thousand other data elements; all are automatically dropped into NetPPS policy forms directly from the NetRate Rating System. The result is elimination of duplicate entry between rating and policy generation. Complete policies involving dozens, even hundreds, of pages can be generated in seconds using NetPPS.
NetPPS also provides the capability for underwriters to select individual forms that are not tagged to be part of the automatic policy production process, to be included in a policy. This is accomplished through an easy-to-operate User Interface which displays all selected and optional forms available. Simple checkboxes trigger inclusions of optional forms.
Output from the NetPPS system is in standard .pdf document format, suitable for printing, attaching to emails, or otherwise storing electronically or in printed hard copy forms. NetRate can also work with the customer to direct copies of the output policies to policy administration or document management systems.
NetPPS is a true web-based implementation. The NetPPS system is a web service hosted by a NetRate hosting partner, and is triggered by a callout from the NetRate Rating System.
About NetRate Systems, Inc.
NetRate Systems, Inc. supplies Commercial Lines Rating and Policy Production Systems to the Property and Casualty insurance marketplace. With sophisticated, yet intuitive, systems designed to eliminate manual references and to fully automate the full policy life cycle, NetRate products include nationwide rating of ISO® Business Auto, Garage, General Liability, Property, Crime, Inland Marine, Businessowners, and NCCI Workers Compensation. NetRate also offers custom programming of all lines of business. NetRate Rating Systems include both desktop and web-based point-of-sale submission/ rate/ quote/ issue versions. NetRate also provides ‘hands-free’ integration of rating data to 3rd party vendor systems to facilitate policy administration. For more information, go to www.netrate.com, or call Tom Rahl @ (517) 347-4900, x113.