ISO content forms the foundation of many commercial insurance products. Carriers, Managing General Agents (MGAs), wholesalers, and program administrators rely on ISO classifications, loss costs, rules, and rating methodologies to develop commercial insurance products. SelectRate provides a modern ISO Rating Software platform that enables insurance organizations to configure, manage, test, deploy, and maintain ISO based products from a centralized cloud platform. Whether you're implementing new ISO products, updating bureau content, applying carrier deviations, or modernizing legacy rating systems, SelectRate provides the flexibility and governance required for enterprise commercial insurance operations.
What Is ISO Rating Software?
ISO Rating Software is designed to calculate commercial insurance premiums using ISO rating methodologies while allowing insurance organizations to apply their own underwriting rules, carrier deviations, pricing adjustments, and product enhancements.
Modern ISO Rating Software also manages:
- Product Configuration
- Rating Formulas
- Underwriting Rules
- Loss Costs
- Carrier Multipliers
- Effective Dates
- Version Control
- Product Testing
- Release Management
Instead of maintaining disconnected spreadsheets or legacy desktop applications, organizations manage every aspect of ISO rating from one platform.
Built for Commercial Insurance
SelectRate supports commercial insurance organizations that rely on ISO content.
Including:
- Insurance Carriers
- Managing General Agents
- Wholesalers
- Program Administrators
- InsurTech Companies
- Specialty Insurance Organizations
The platform supports single carrier implementations as well as enterprise environments managing hundreds of insurance products.
Configure ISO Products
Build and maintain ISO based insurance products without modifying software code.
Configure:
- Classifications
- Coverages
- Deductibles
- Limits
- Rating Variables
- Rating Formulas
- Lookup Tables
- Underwriting Rules
- Product Versions
- Effective Dates
Business users maintain products without relying on software developers. Learn more about Insurance Product Configuration Platform.
ISO Loss Costs
SelectRate provides centralized management of ISO loss costs.
Manage:
- Current Loss Costs
- Historical Loss Costs
- Future Loss Costs
- State Specific Loss Costs
- Product Specific Loss Costs
- Effective Dates
- Version History
Loss cost updates become structured business processes instead of manual system changes. Learn more about Loss Cost Management.
Carrier Deviations
Most insurance organizations extend ISO products with proprietary pricing.
Configure:
- Carrier Multipliers
- Company Factors
- Rating Adjustments
- Underwriting Rules
- Eligibility Rules
- Coverage Enhancements
- State Variations
Carrier specific business rules remain independent from ISO bureau content, simplifying future bureau updates. Learn more about Carrier Rating Overrides.
Commercial Insurance Rating Engine
The SelectRate Rating Engine performs ISO premium calculations using configurable business rules.
Supports:
- ISO Rating Rules
- Rating Variables
- Lookup Tables
- Coverage Logic
- Premium Calculations
- State Variations
- Carrier Deviations
- Product Versions
All calculations remain transparent and fully auditable. Learn more about Commercial Insurance Rating Engine.
Underwriting Integration
ISO rating works together with configurable underwriting automation.
Evaluate:
- Eligibility Rules
- Refer to Company
- Decline Rules
- Authority Limits
- Required Documentation
- Product Availability
Premium calculations and underwriting decisions are returned together. Learn more about Underwriting Rules Engine.
Effective Date Management
ISO content changes frequently.
SelectRate manages:
- Historical Versions
- Current Versions
- Future Versions
- Bureau Effective Dates
- Carrier Effective Dates
- Renewal Products
Organizations can prepare future bureau releases well before implementation dates. Learn more about Effective Date Management.
Automated Testing
Every ISO update should be validated before deployment.
Test:
- Loss Cost Changes
- Formula Changes
- Product Changes
- Premium Differences
- Classification Updates
- State Changes
- Carrier Deviations
Automated testing helps eliminate production issues before products are published. Learn more about Rating Testing Software.
Release Management
Deploy ISO product updates using governed release workflows.
Supports:
- Draft Releases
- Product Approval
- Testing Validation
- Scheduled Deployment
- Rollback
- Audit History
Every bureau update follows the same controlled deployment process. Learn more about Rating Release Management.
API Ready ISO Rating
Expose ISO rating through secure REST APIs.
Integrate with:
- Agency Management Systems
- Policy Administration Systems
- Broker Portals
- Customer Portals
- Mobile Applications
- Third Party Platforms
One centralized rating engine powers every connected application. Learn more about Insurance Rating API.
Enterprise Governance
Every ISO product change is fully documented.
Track:
- Product Versions
- Loss Cost Updates
- Formula Changes
- User Activity
- Approval History
- Deployment History
- Audit History
- Effective Dates
Organizations maintain complete visibility into every bureau update.
Commercial Lines Supported
SelectRate supports ISO based commercial insurance products including:
The platform also supports carrier specific products built on top of ISO content.
Why Organizations Choose SelectRate for ISO Rating
Insurance organizations modernize ISO rating to improve agility, governance, and operational efficiency.
Benefits include:
- Faster Bureau Updates
- Improved Pricing Accuracy
- Better Product Governance
- Simplified Carrier Deviations
- Reduced Maintenance Costs
- Automated Testing
- Faster Product Releases
- Modern API Architecture
- Enterprise Scalability
- Complete Audit History
Frequently Asked Questions
Looking for the rating platform itself?
SelectsysTech connects distribution workflows to bureau, carrier-native and third-party rating. If you are configuring ISO programs and running a rating workbench, that is SelectRate, and it has its own site.
Modernize Your ISO Rating Platform
Whether you're replacing legacy ISO rating software, implementing new bureau products, or simplifying carrier deviations, SelectRate provides a modern platform to manage ISO content, pricing, underwriting, testing, and deployment from one centralized environment.