Workers Compensation is one of the most complex commercial insurance products to rate accurately. Insurance organizations must manage NCCI classifications, loss costs, experience modification factors, scheduled rating, premium discounts, state exceptions, carrier deviations, and ongoing bureau updates while maintaining complete pricing accuracy. SelectRate provides a modern NCCI Rating Software platform that enables carriers, Managing General Agents (MGAs), wholesalers, and program administrators to configure, test, deploy, and maintain Workers Compensation products from a centralized cloud platform. Instead of maintaining outdated desktop rating systems or complex spreadsheets, insurance organizations can manage every aspect of Workers Compensation rating through a single enterprise platform.
NCCI Rating Software calculates Workers Compensation premiums using rating data published by the National Council on Compensation Insurance (NCCI), together with carrier specific pricing, underwriting rules, and product configuration.
A complete Workers Compensation rating platform manages:
Modern rating software centralizes these components into one governed platform.
SelectRate supports organizations writing Workers Compensation insurance.
Including:
Whether you're managing one Workers Compensation product or multiple carrier programs, SelectRate simplifies administration while improving pricing accuracy.
Workers Compensation premiums begin with accurate classification management.
Configure:
Classification updates can be version controlled and scheduled before implementation.
SelectRate centralizes management of NCCI loss costs.
Maintain:
Future bureau updates can be prepared well before production implementation. Learn more about Loss Cost Management
Experience Modification Factors significantly impact Workers Compensation premiums.
Configure and manage:
Experience Modification Factors are automatically incorporated into premium calculations. Learn more about Experience Rating, Experience Modifiers
Insurance carriers apply proprietary pricing on top of NCCI loss costs.
Configure:
Carrier pricing remains separate from bureau content, simplifying future NCCI updates. Learn more about Carrier Rate Multipliers
Many Workers Compensation programs include scheduled rating adjustments.
Configure:
Scheduled Rating can be customized by carrier, state, or insurance program.
SelectRate performs complete Workers Compensation premium calculations.
Calculations include:
Every calculation is available through detailed rating worksheets. Learn more about Premium Calculation Engine
Workers Compensation underwriting rules are fully configurable.
Evaluate:
Premium calculations and underwriting decisions are evaluated together. Learn more about Underwriting Rules Engine
Workers Compensation products change frequently.
Manage:
Organizations can maintain multiple active Workers Compensation product versions simultaneously. Learn more about Effective Date Management
Every NCCI update should be tested before deployment.
Validate:
Automated testing reduces production risk while improving pricing confidence. Learn more about Rating Testing Software
Deploy Workers Compensation product updates using governed release workflows.
Supports:
Every NCCI update follows a controlled release process. Learn more about Rating Release Management
Expose Workers Compensation rating through secure REST APIs.
Integrate with:
One centralized rating engine powers every connected application. Learn more about Insurance Rating API
Insurance organizations modernize Workers Compensation rating to improve efficiency and reduce maintenance.
Benefits include:
Whether you're replacing legacy Workers Compensation rating software, implementing NCCI bureau updates, or launching proprietary Workers Compensation products, SelectRate provides the modern platform needed to configure, test, govern, and deploy with confidence.