SelectRate Product Builder allows insurance organizations to create new commercial insurance products without developing new software applications. Product managers, underwriting teams, actuaries, and business analysts assemble products using configurable business components including ISO and NCCI bureau content, carrier specific deviations, pricing rules, underwriting logic, forms, and product governance. Instead of building software, organizations build insurance products.
Every commercial insurance product follows the same lifecycle.
The Product Builder provides one governed environment for the complete product lifecycle.
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.
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.
Configure ISO and NCCI bureau content, carrier specific deviations, pricing logic, reusable formulas, and premium calculations from one centralized environment.
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.
Every commercial insurance product includes configurable operational workflows covering quoting, underwriting, approvals, policy servicing, renewals, endorsements, and releases.
Supports:
Business workflows become part of product configuration.
Every product moves through a governed lifecycle before production deployment.
Supports:
Products follow structured governance from creation through retirement.
Every commercial insurance product is validated before production using integrated testing capabilities.
Automatically test:
Testing becomes part of the product development lifecycle.
Every approved product becomes immediately available throughout the SelectRate platform and connected enterprise applications.
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 ISO and NCCI bureau content without duplicating product configuration. Learn more about Insurance Rating Bureaus
Accelerate commercial insurance product development using SelectRate. Build, govern, test, approve, and deploy enterprise commercial insurance products through one centralized product management platform.