View every calculation, formula, rating variable, underwriting adjustment, and premium component that contributes to the final commercial insurance premium.
One of the biggest frustrations in commercial insurance rating is understanding how a premium was calculated. Underwriters, product managers, auditors, and customer service teams often spend hours tracing formulas, reviewing spreadsheets, and manually reconstructing calculations.SelectRate automatically generates a comprehensive Rating Worksheet for every quote, giving users complete visibility into every variable, formula, bureau rule, carrier adjustment, underwriting decision, fee, tax, and premium calculation.Instead of asking,"How did we get this premium?", every calculation is documented in a clear, structured worksheet.
A Rating Worksheet is a detailed breakdown of every step used to calculate a commercial insurance premium.
The worksheet provides complete transparency into:
Every calculation is visible, repeatable, and fully auditable.
A Rating Worksheet summarizes the premium calculation. A Rating Trace records every execution step performed by the Insurance Rating Engine. Learn more about Rating Trace, Premium Calculation Engine.
Commercial insurance pricing often involves hundreds of calculations.
Without a detailed worksheet organizations struggle to:
Rating Worksheets eliminate guesswork by documenting every calculation.
SelectRate Rating Worksheets support every commercial insurance product. Every product uses the same standardized worksheet structure.
Every worksheet displays a complete pricing summary.
Including:
Every adjustment is displayed in calculation order.
Every pricing formula is displayed exactly as executed.
View:
Users can understand exactly how each calculation was performed.
Display every bureau calculation.
Supports:
Bureau calculations remain separated from carrier adjustments.
Display every carrier adjustment.
Review:
Carrier pricing is clearly separated from bureau calculations.
Every underwriting adjustment appears within the worksheet.
Display:
Users understand every underwriting decision affecting premium.
Compare multiple premium calculations side by side.
Compare:
Quote comparison simplifies underwriting reviews and product testing.
Rating Worksheets can be exported for operational use.
Export options include:
Rating Worksheets can be exported, archived, shared with underwriters, or attached to policy files for operational review and audit support.
Applications can retrieve Rating Worksheets through secure REST APIs.
Supports:
Every application receives identical calculation details.
Review every variable used during premium calculation. Every variable includes its source and calculated value.
Examples include:
Every financial adjustment is documented. Each fee displays the calculation method and amount.
Display:
Every worksheet links directly to the Rating Trace. This provides complete transparency into how every premium was produced.
Users can review:
Every Rating Worksheet links directly to the corresponding Rating Trace, allowing users to move from the premium summary to the complete execution history.
Rating Worksheets automatically reflect the correct product version. Historical worksheets remain available indefinitely.
Display:
Learn more about Effective Date Management
Rating Worksheets support automated validation. Testing teams can quickly identify pricing differences.
Compare:
Testing teams use Rating Worksheets to compare expected and actual premium calculations during automated testing and regression validation.
Stop manually reconstructing commercial insurance premiums. Generate detailed Rating Worksheets that explain every calculation, improve underwriting productivity, and simplify regulatory compliance with SelectRate.