eGuide
Majesco Enterprise Rating
Revolutionizing Insurance Rating:
Navigate Complexity with Majesco Enterprise Rating
In the face of rapidly changing risk factors, rising loss ratios, and customer expectations, insurers need more flexibility in changing their pricing and rating for underwriting. Rating solutions stand at the heart of underwriting and pricing strategies, serving as critical determinants of competitiveness and profitability. As markets and risk grow increasingly complex, insurers face the challenge of enhancing efficiency, creating flexibility, and ensuring precision in their rating processes. Traditional methods of rating no longer suffice in an era of rapidly changing risk and the demand for personalized insurance solutions.
Offering unparalleled performance, flexibility, and integration capabilities, Majesco Enterprise Rating empowers insurers to meet and exceed the modern, complex market demands. Through automating and streamlining rating processes and offering advanced pricing options, while ensuring reliability and scalability, Majesco Enterprise Rating empowers insurers to capture market opportunities, effectively rate risk, improve customer satisfaction, and drive growth in a competitive landscape.
Accelerate Speed-to-Market
Majesco Enterprise Rating offers the fastest, most accurate, and cost-effective path to transform insurance products from concept to production. Majesco Enterprise Rating expedites product development and delivers ready-to-use rating microservices in any digital insurance library.
Seamless Integration
Automatically convert Excel workbooks into web services, allowing insurers to easily build, model, and manage rating calculations, underwriting rules, and forms attachment logic without the need for extensive IT support.
Versatile Compatibility
Comprehensive support is providedfor various processing systems, digital marketplaces, comparative raters, and portal solutions, making it a versatile tool for a wide range of insurance operations and channels.
Advanced Pricing Options
Accommodate complex business pricing strategies including rate capping, multi-peril rating, and the handling of large schedules of over 10,000 items, along with proprietary rating algorithms, catering to the unique needs of each insurer.
Complex Rating Capabilities
Support highly complex and sequential rating processes, enabling insurers to manage intricate rating scenarios with ease and precision
Rapid Response Times
Leverage high-speed response capabilities to meet the demand for quick and accurate rate calculations, enhancing customer service and operational efficiency.
Flexible Rate Management
Empower business teams to easily change and model rates as needed, fostering agility and responsiveness to continuous market changes.
Comprehensive Toolset
Features a suite of web-based administration tools, impact analysis for modeling and testing, and an enrichment and persistence layer, all designed to streamline the rating process.
Sophisticated Orchestration
Advanced orchestration capabilities for linking multiple services, facilitating complex rate order calculations, and integrating with external services enables a holistic rating approach.
Enhanced Document Generation
Automate the generation of rating worksheets and bindable quote proposals, streamlining documentation processes and improving operational efficiency.
Why Majesco?
Industry-Leading Performance
Majesco Enterprise Rating delivers unparalleled
strength, performance, and reliability, ensuring that
insurers can count on accurate and efficient rating
processes.
Scalable Growth
Designed to grow with your business through
horizontal scaling, ensuring that the solution can
meet increasing demands without compromising
performance.
Reliable Enterprise Hosting
Offers enterprise-level hosting with cross-data
redundancy for disaster recovery, 100% uptime
through load balancing and multiple application
servers, ensuring that your rating processes are
always available and secure.
“We are designing our technology solution to help power our future growth, and Majesco Enterprise Rating offers us a scalable platform, that fits well with our evolving technology architecture that we are developing as part of our modernization program.”
Troy Dehmann
Chief Operating Officer, Beazley
“As a company, we are continuously seeking out new and cutting-edge technologies to boost productivity, improve efficiency, and provide quicker turnaround times that will ultimately benefit our insureds. With this software, we will be able to automate our legacy pricing tools, which will allow us to deliver our best-in-class products faster
than we have before.”
Susan Rivera
Chief Executive Officer, Tokio Marine HCC
The Industry-
Leading Rating
Solution for
Your Next Now
Majesco Enterprise Rating empowers insurers across all lines of business for personal, commercial, and specialty to adapt to the speed of risk. Discover how its easily configurable toolkit helps you bring insurance products to market, seamlessly.
Contact Us to Take the Next Step
Request more info or email us at info@majesco.com.