Posted on 13 Jul 2012
NetRate Systems, Inc. (Okemos, MI) is pleased to announce implementation of the NetRate Commercial Lines Rating System at Axiom Insurance Managers, headquartered in Rolling Meadows, IL. Axiom Insurance Managers will utilize the NetRate software to rate Commercial General Liability pertaining to their Hospitality Programs. Axiom’s implementation of the NetRate System includes the following NetRate modules:
* NetRate Rating Module for Commercial General Liability.
* NetBind Policy Life Cycle Module to enable new business, endorsement, cancellation and reinstatement, and renewal rate processing;
* NetXPORT Integration Module for XML integration of rated risks with MGA Systems’s (Melville, NY) Insurance Management System (IMS) for Policy Administration.
* Custom programming to support several company-specific coverages provided by their supporting Carriers.
In addition to providing the rating program, NetRate Systems also exercises its status as an official ISO® Business Partner to handle all ISO®-mandated rate/ rule updates, and to handle all Axiom-specific updates to the system.
On occasion of the NetRate launch, Neno Djordjevic, Chief Operating Officer at Axiom Insurance Managers, said: “NetRate was able to provide Axiom with a technologically-superior rating system, nuanced for underwriting specialized risks, fully-customized to reflect our program needs, and flexible enough to allow for quick introduction of new programs facilitating growth, all while giving us the quality of data that we need as Underwriting Managers.
“But, on top of it all, NetRate demonstrated an unparalleled commitment to customer service as reflected by the highly knowledgeable and very responsive professionals on their staff who ‘took ownership’ of our project as if it were their own.”
“NetRate Systems has also provided Axiom with a highly user-friendly rating system which has a strong ISO core, yet also incorporates the many custom elements we have designed in conjunction with our carriers. The power of the rating system furnishes us with the elements we need in a full-function system: a high-performance, flexible, easy-to-use software product that, in concert with the IMS system, leads to vastly increased efficiency in rating and policy issuance, and later on to easier after-inception policy processing. Together with my entire team, I’m extremely excited and pleased to have NetRate and MGA Systems in production at Axiom Insurance Managers.”
About NetRate Systems, Inc.
NetRate Systems, Inc. supplies Commercial and Personal Lines Rating Systems to the Property and Casualty insurance marketplace, primarily in the MGA and small/medium carrier environment. With sophisticated, yet intuitive, systems designed to eliminate manual references and to automate the rating within the full policy life cycle, NetRate products include nationwide rating of ISO® General Liability, Property, Business Auto, Crime, Inland Marine, Farm, as well as NCCI Workers Comp, and company-specific Personal Lines. NetRate also offers custom programming of all lines of business. NetRate Rating Systems include desktop implementation and web-based point-of-sale submission/ rate/ quote versions. NetRate also provides integration of rating data to 3rd party vendor systems to facilitate policy issuance and administration. For more information, go to www.netrate.com.