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Ratabase®
A comprehensive approach to major business challenges
Ratabase Next Generation is a powerful and flexible software productivity
tool designed for business analysts to develop algorithms, tables, and
rating logic for insurance rating and other mathematical applications.
Significantly reducing the time and costs associated with system development
and maintenance, Ratabase Next Generation can be utilized in a new development
effort or can be retrofitted into existing company developed or vendor
supplied systems.
What is Ratabase Next Generation?
A productivity tool in the hands of empowered business professionals
- Ratabase Next Generation is designed to speed the development and implementation of the rating logic for financial products. It follows a two-fold conceptual model: the business concept and the technological concept. The business concept enables the business specialists to develop, manipulate and test business rules related to rating. The technological concept provides a clearly segregated windows development workstation environment, and a multiplatformed calculator to be implemented in the production environment.
Ratabase Next Generation was developed with architecture that easily adapts to technical change. Ratabase Next Generation provides many benefits such as:
- Shortening the time needed to develop new systems and / or new products and provides benefits to the rate development process.
- Improving timeliness and consistency. Ratabase Next Generation can easily be used to build a "what-if" system that calculates the effect of change on your existing policies.
- Freeing up valuable IT resources and allowing IT personnel to focus on high priority issues rather than rate and rule maintenance.
How does Ratabase Next Generation Work?
Ratabase Next Generation is a comprehensive tool made up of four major components: Ratabase Workstation, Ratabase Database, Ratabase Interface, and Ratabase Calculator.
The architectural benefit to using Ratabase Next Generation as a rating component in your application is that the implementation is flexible and can fit with most application architectures. The system's straightforward approach makes it easy to manage rate changes, even those with complex effective dates.
For information on this or any other insurance solution, please contact us.
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