Overview

FINEOS Rate is an easy-to-use rating solution that enables your actuarial team to build, test and implement complex rating algorithms with less reliance on IT.  Its patented rating engine includes a built-in version control and real-time data manipulation for what-if analysis.

Key Features

View calculations at group, individual and plan level

FINEOS Rate supports a broad range of entities and relationships.  Rate calculations can be easily viewed at the group, individual and plan level.

Actuarial toolset with easy-to-use dashboards 

FINEOS Rate provides actuarial rating tools and graphical user interfaces to streamline the building, testing and implementation of complex rating algorithms. Rates, rules and plans can be securely configured and deployed without manipulating code.

Simplified management and security of proprietary rating models 

FINEOS Rate streamlines the management and security of proprietary rating models through its patented, user-based authorities and graphical configuration rating tools.

Real-time, what-if analysis 

Actuarial teams have direct control of the underlying data required for rate calculation, re-rating and scenario modeling. Intermediate calculations can be tested in real-time and validated before committing to implementation.

Built-in version control, including rate rollbacks   

FINEOS Rate includes built-in version control to more effectively manage changes to algorithms and rating factors.  Rate changes can be easily implemented or, when needed, rolled back to prior versions without IT resources.

Benefits

Improve speed to market by reducing the time it takes to implement rate revisions and launch new products.

Increase productivity and lower operating costs by reducing handoffs, correcting errors and eliminating duplicate data entry. Improve efficiency by having all required information for rating in one place and spending less time waiting on others. Save time with quick access to frequently used templates.

Improve product agility by implementing a more flexible and nimble approach to rate management. Increase analytical sophistication by using a state-of-the-art actuarial toolset that identifies rate inadequacies and market opportunities faster.

Reduce reliance on IT by removing the complexity in the product development and maintenance environment. Reduce IT backlogs and free resources to work on other initiatives.

Reduce risks by improving consistency, controls and governance. FINEOS Rate provides enhanced security and helps to ensure compliance  through detailed tracking and version control.

Questions about FINEOS Rate?

Contact us here to learn more about FINEOS Rate.

Resources

FINEOS Vlog - Open Core

Chuck Johnston, Chief Marketing Officer, FINEOS, discusses 4 keys to an Open Ecosystem and its advantages over ...

FINEOS AdminSuite

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