Launching a new commercial insurance product traditionally requires months of software development, complex spreadsheets, hardcoded rating logic, manual testing, and difficult deployments. SelectRate changes that process. The SelectRate Insurance Product Builder gives insurance carriers, Managing General Agents (MGAs), wholesalers, program administrators, and InsurTech companies a visual platform for building, configuring, testing, governing, and deploying commercial insurance products without modifying application code. Whether you're launching a new product or modernizing an existing one, SelectRate dramatically reduces implementation time while improving governance and pricing accuracy.
An Insurance Product Builder is a configurable platform used to design, configure, and manage commercial insurance products throughout their lifecycle.
Instead of relying on developers to make every product change, business users can configure:
Everything is managed through configuration rather than software development.
Commercial insurance products evolve constantly.
Organizations frequently introduce:
Without a configurable product builder, every change becomes an expensive development project.
SelectRate supports every major commercial insurance product.
Each product is built from reusable components while maintaining independent business rules.
Configure complete insurance products from one platform.
Manage:
Business users configure products without software development.
Every insurance product includes configurable rating.
Configure:
The same rating engine supports every commercial insurance product. Learn more about Commercial Insurance Rating Engine, Insurance Formula Builder.
Build underwriting rules visually.
Configure:
Underwriting becomes part of the product definition. Learn more about Underwriting Rules Engine.
Configure insurance coverages without coding.
Manage:
Coverage configuration remains reusable across products.
Automatically associate documentation with products.
Configure:
Documentation automatically follows the active product version. Learn more about Forms Management, Endorsement Management.
Configure product workflows visually.
Supports:
Business workflows become part of product configuration.
Manage every stage of product development.
Supports:
Products follow structured governance from creation through retirement.
Every product is validated before deployment.
Automatically test:
Testing becomes part of the product development lifecycle.
Every product is automatically exposed through secure REST APIs.
Integrate with:
No additional development is required to expose product functionality. Learn more about Insurance Rating API
Every product follows enterprise governance.
Track:
Organizations maintain complete visibility across every product.
Build bureau-based products from one platform.
Supports:
Carrier-specific products extend bureau content without duplication. Learn more about Insurance Rating Bureaus
The Insurance Product Builder supports enterprise insurance operations.
Supports:
The platform scales from one insurance product to hundreds of commercial insurance programs.
Insurance organizations modernize product development to improve speed, flexibility, and governance.
Benefits include:
Replace spreadsheets, legacy systems, and custom development with a modern Insurance Product Builder designed specifically for commercial insurance organizations.