Modern Commercial Property Rating for Enterprise Insurance Organizations
Commercial Property insurance products are among the most configurable commercial insurance products in the market. Accurate pricing requires evaluating occupancy, construction, protection class, valuation, territory, catastrophe exposure, deductibles, limits, endorsements, and underwriting guidelines while maintaining consistent pricing across carriers and programs. SelectRate provides a modern Commercial Property Rating platform that enables carriers, Managing General Agents (MGAs), wholesalers, program administrators, and InsurTech companies to configure, rate, test, govern, and deploy commercial property products from one centralized platform. Whether you're implementing ISO Commercial Property products or proprietary carrier programs, SelectRate provides the flexibility required for enterprise insurance operations.
Commercial Property Rating is the process of calculating premiums for buildings, business personal property, equipment, inventory, business income, and other insured property using configurable rating methodologies.
Premium calculations typically consider:
Every rating variable contributes to the final premium.
SelectRate supports virtually every commercial property program.
Each program maintains independent pricing while sharing one enterprise platform.
Commercial Property products evolve continuously.
Manage:
Organizations prepare future releases without affecting production. Learn more about Effective Date Management.
Commercial Property products rely on detailed property information.
Configure:
Property characteristics automatically flow into premium calculations.
Support multiple property valuation methodologies.
Configure:
Each coverage can use independent valuation methods.
Property pricing frequently depends on geographic risk.
Evaluate:
Territory rules are fully configurable.
Every carrier maintains unique commercial property pricing.
Configure:
Carrier pricing remains separate from bureau content. Learn more about Carrier Rating Overrides.
Configure commercial property coverages.
Supports:
Each coverage maintains independent rating logic.
Commercial Property underwriting rules are fully configurable.
Evaluate:
Underwriting decisions are evaluated automatically during rating.
SelectRate performs complete Commercial Property premium calculations.
Evaluate:
Every calculation is transparent through Rating Worksheets and Rating Trace.
Automatically assign commercial property documentation.
Supports:
Documentation remains synchronized with product versions. Learn more about Forms Management, Endorsement Management.
Every Commercial Property product should be validated before deployment.
Test:
Automated testing reduces production risk.
Expose Commercial Property rating through secure REST APIs.
Integrate with:
Every application uses the same centralized property rating engine.
Every Commercial Property product change is fully documented.
Track:
Organizations maintain complete operational visibility.
Insurance organizations modernize Commercial Property rating to improve efficiency and product agility.
Benefits include:
Configure commercial property products, automate underwriting, simplify pricing, and deploy enterprise property insurance programs faster with SelectRate.