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.
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:
Instead of maintaining disconnected spreadsheets or legacy desktop applications, organizations manage every aspect of ISO rating from one platform.
SelectRate supports commercial insurance organizations that rely on ISO content.
Including:
The platform supports single carrier implementations as well as enterprise environments managing hundreds of insurance products.
Build and maintain ISO based insurance products without modifying software code.
Configure:
Business users maintain products without relying on software developers. Learn more about Insurance Product Configuration Platform.
SelectRate provides centralized management of ISO loss costs.
Manage:
Loss cost updates become structured business processes instead of manual system changes. Learn more about Loss Cost Management.
Most insurance organizations extend ISO products with proprietary pricing.
Configure:
Carrier specific business rules remain independent from ISO bureau content, simplifying future bureau updates. Learn more about Carrier Rating Overrides.
The SelectRate Rating Engine performs ISO premium calculations using configurable business rules.
Supports:
All calculations remain transparent and fully auditable. Learn more about Commercial Insurance Rating Engine.
ISO rating works together with configurable underwriting automation.
Evaluate:
Premium calculations and underwriting decisions are returned together. Learn more about Underwriting Rules Engine.
ISO content changes frequently.
SelectRate manages:
Organizations can prepare future bureau releases well before implementation dates. Learn more about Effective Date Management.
Every ISO update should be validated before deployment.
Test:
Automated testing helps eliminate production issues before products are published. Learn more about Rating Testing Software.
Deploy ISO product updates using governed release workflows.
Supports:
Every bureau update follows the same controlled deployment process. Learn more about Rating Release Management.
Expose ISO rating through secure REST APIs.
Integrate with:
One centralized rating engine powers every connected application. Learn more about Insurance Rating API.
Every ISO product change is fully documented.
Track:
Organizations maintain complete visibility into every bureau update.
SelectRate supports ISO based commercial insurance products including:
The platform also supports carrier specific products built on top of ISO content.
Insurance organizations modernize ISO rating to improve agility, governance, and operational efficiency.
Benefits include:
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.