NetRate vs SelectRate
Modernizing Commercial Insurance Rating Beyond Traditional Rating Systems
Insurance organizations have relied on traditional rating platforms for years to manage commercial insurance products. While these systems helped automate premium calculations, today's insurance organizations require far more than a standalone rating engine. Modern insurers need configurable products, enterprise APIs, underwriting automation, governance, automated testing, analytics, release management, and cloud scalability. SelectRate was designed to support the complete commercial insurance product lifecycle, not just premium calculation.
At a Glance
| Capability | Traditional NetRate Approach | SelectRate |
|---|---|---|
| Commercial Insurance Rating | Yes | Yes |
| Cloud Native Platform | Limited | Yes |
| Visual Product Configuration | Limited | Yes |
| REST APIs | Yes | Yes |
| Underwriting Rules Engine | Basic | Yes |
| Eligibility Rules | Limited | Yes |
| Rating Worksheet | Limited | Yes |
| Rating Trace | Limited | Yes |
| Automated Rating Testing | No | Yes |
| Regression Testing | No | Yes |
| Rating Simulation | No | Yes |
| Release Management | Limited | Yes |
| Product Governance | Limited | Yes |
| Approval Workflows | Limited | Yes |
| Audit History | Limited | Yes |
| Analytics & Reporting | Limited | Yes |
Built for Modern Commercial Insurance
SelectRate supports:
The platform is designed to support the complete insurance product lifecycle rather than only premium calculations.
Product Configuration
Modern insurance products require continuous updates. without modifying application code.
SelectRate allows business users to configure:
- Products
- Programs
- Carriers
- States
- Coverages
- Rating Variables
- Underwriting Rules
- Forms
- Endorsements
Learn more about Insurance Product Configuration Platform
Rating Engine
Both platforms calculate premiums, but SelectRate extends rating into a complete product platform.
Supports:
- Bureau Rating
- Carrier Pricing
- Rating Formulas
- Premium Calculation
- Rating Worksheets
- Rating Trace
Learn more about Commercial Insurance Rating Engine
Underwriting Automation
SelectRate combines pricing and underwriting.
Configure:
- Eligibility
- Refer to Company
- Judgment Rates
- Consent to Rate
- Experience Rating
- IRPM
Learn more about Underwriting Rules Engine
Enterprise Testing
One of the biggest differences is release quality. Organizations validate every pricing change before production deployment.
SelectRate includes:
- Automated Rating Testing
- Regression Testing
- Rating Simulation
- Draft Rating Changes
- Release Validation
Learn more about Automated Rating Testing , Regression Testing , Rating Simulation
Release Management
Instead of manually deploying rating changes, SelectRate supports:
- Draft Products
- Approval Workflows
- Future Effective Dates
- Scheduled Releases
- Rollback
- Audit History
Learn more about Rating Release Management
APIs
SelectRate exposes every capability through secure REST APIs.
Integrate With:
- Agency Management Systems
- Policy Administration Systems
- Broker Portals
- Customer Portals
- Mobile Applications
Learn more about Insurance Rating API
Enterprise Governance
Every change is documented.
Track:
- Product Versions
- Formula Changes
- User Activity
- Approval History
- Deployment History
- Audit History
Learn more about Audit History , Change History
Reporting & Analytics
Monitor:
- Quote Volume
- Premium Volume
- Product Performance
- API Usage
- Platform Performance
- Executive KPIs
Learn more about Rating Analytics , Rating Reporting , Rating Performance Monitoring
When SelectRate Is a Good Fit
SelectRate is designed for organizations that want to:
- Modernize Legacy Rating Platforms
- Replace Spreadsheet Rating
- Launch Products Faster
- Reduce Software Development
- Improve Underwriting Automation
- Add Enterprise APIs
- Improve Testing and Governance
- Build Cloud-Native Insurance Products
Frequently Asked Questions
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The information presented is based on publicly available sources, including official product documentation, vendor websites, marketing materials, and generally available industry information at the time of publication. Product features, capabilities, pricing, integrations, and specifications may change without notice.
This content is provided for informational and educational purposes only and does not imply any endorsement, partnership, sponsorship, affiliation, or certification by any referenced company or product. Readers should verify current product information, features, pricing, and implementation requirements directly with the respective vendor before making purchasing or implementation decisions.
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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 Beyond Traditional Rating Software
Move beyond legacy commercial insurance rating with a platform built for configurable products, enterprise governance, automated testing, and cloud-native insurance operations.