Celent Analyst Report: 2016 Global PC Portal Solutions

About this Analyst Report

Celent’s ‘North American Rating Engines – Property Casualty ABCD Vendor View’ report provides an overview of the stand-alone rating engines available in North America for property & casualty insurance carriers. The report published on August 30, 2016 profiled 12 stand-alone rating engines, providing an overview of the functionality, the customer base, lines of business supported, the technology, implementation, pricing, and support.

This is a reprint of the report that covers ValueMomentum Inc. as a vendor for its iFoundry Rating Engine solution that helps P&C insurers with ease of modeling and managing proprietary rate plans and bureau rates. iFoundry Rating Engine’s intuitive user interface makes it easy for a business analyst or business user to modify rates or algorithms. The product architecture is simple to understand and well organized. Carriers can easily create a library of rating rules that can be reused across products.

Read this report to learn about

  • Rating Engines: definition and Functionality
  • Report methodology: Rating Engine criteria for inclusion and evaluation process for Celent’s ABCD Vendor View analysis
  • About the vendor profiles included in the ABCD Vendor View analysis
  • About ValueMomentum’s iFoundry Rating Engine solution

Celent Analyst Report: New Tools for Product Management

About this Report

With the fight for new customers growing more and more competitive, insurers continue to look for new ways of differentiation through their products. Insurance carriers have always needed to develop innovative products, get them to market in a timely fashion, and manage risk. Those are key ingredients to build market share and maintaining profitability.

But creating new products is only part of product differentiation. Keeping products profitable and up-to-date is an ongoing challenge as the market changes daily with new regulations, competitor advances, and shifting customer expectations. Insurers are moving toward a more data-driven world, including in product management. While tools exist to streamline the modifications of rates and rules, much of a product manager’s job is trying to understand which levers to use to improve the penetration and profitability of their products. How much of an impact will a rate change make? Should you expand your appetite, and if so, what underwriting rules should apply? What will the competitive and market impact be when making a change to a form? Are your most profitable segments getting the best rates?

This report looks at some of the challenges that carriers have when thinking through these questions and will look at some of the new tools and techniques that carriers use to address these issues.

CELENT ANALYST REPORT: NORTH AMERICAN RATING ENGINES Featuring IFOUNDRY RATING ENGINE VENDOR VIEW

Celent's 'North American Rating Engines - Property Casualty ABCD Vendor View' report provides an overview of the stand-alone rating engines available in North America for property & casualty insurance carriers. The report published on August 30, 2016 profiled 12 stand-alone rating engines, providing an overview of the functionality, the customer base, lines of business supported, the technology, implementation, pricing, and support.

This is a reprint of the report that covers ValueMomentum Inc. as a vendor for its iFoundry Rating Engine solution that helps P&C insurers with ease of modeling and managing proprietary rate plans and bureau rates. iFoundry Rating Engine's intuitive user interface makes it easy for a business analyst or business user to modify rates or algorithms. The product architecture is simple to understand and well organized. Carriers can easily create a library of rating rules that can be reused across products.

Read this report to learn about:
  • Rating Engines: definition and Functionality
  • Report methodology: Rating Engine criteria for inclusion and evaluation process for Celent’s ABCD Vendor View analysis
  • About the vendor profiles included in the ABCD Vendor View analysis
  • About ValueMomentum's iFoundry Rating Engine solution

An On-Demand Webinar featuring: Ryder, OwlSurance Verisk ISO™ & ValueMomentum

Featured Speakers

Sue Tribby

Sr. Director Insurance Product Lines,
Ryder System, Inc.

Mark Sheehan

Vice President, ISO Rating Solutions, Verisk

Abhijeet Jhaveri

Chief Marketing Officer,
OwlSurance

Webinar Overview

Property & The insurance arm of Ryder, a leading provider of commercial transportation solutions, was seeking to improve profitability and grow its insurance operations. The company faced the same challenges as many in the insurance sector: legacy products and systems that were not able to support the company’s growth and profitability objectives.

Ryder was able to successfully revamp its insurance operations with the help of OwlSurance Verisk ISO.  Ryder adopted OwlSurance Verisk ISO for its foundational rating information, automated its delivery with OwlSurance Verisk Electronic Rating content (ERC) ™, incorporated additional granular rating data down to the ZIP code level with OwlSurance Verisk ISO Risk Analyzer®, and secured a software platform that supported this new approach.

In this webinar we highlighted how Ryder benefited leveraging our platform:

  • Automated its consumption of ISO rating data
  • Refreshed its commercial auto offering with a new OwlSurance Verisk ISO-based product
  • Realized the benefits of staying current with ISO updates
  • Achieved growth and profitability goals with new automation and technology