Overview

FINEOS Rate is an easy-to-use insurance rating software 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

FINEOS Absence

  • Absence management software
  • Integrated with FINEOS Claims
  • Covered paid and unpaid leaves
  • Simplifies Compliance
ABSENCE

FINEOS Billing

  • Billing management solution
  • Combined or separate bills
  • Reduced billing leakage
  • Automated cash application
BILLING

FINEOS Claims

  • Claims management software
  • Provides straight-through processing
  • Increases accuracy and compliance
  • Covers payments and return to work
CLAIMS

FINEOS Payments

  • Payments management solution
  • Automated
  • Accurate
  • Payroll Continuity
PAYMENTS

FINEOS Policy

  • Policy admin system
  • Set up cases quickly
  • Service all tiers and admin modes
  • Connect to digital ecosystem
POLICY

FINEOS Provider

  • Provider management software
  • Drive outcome-orientated engagement
  • Manage service approvals
  • Accelerate rehabilitation and return to work
PROVIDER

FINEOS Quote

  • Group insurance quoting software
  • Fast Life, Accident and Health quoting
  • Extend quoting to distribution
  • Comprehensive workflow
QUOTE

FINEOS Rate

  • Group insurance rating software
  • Real-time data manipulation
  • Automated complex rating
  • Award-wining, patented technology
RATING

FINEOS Underwrite

  • Group insurance underwriting software
  • Integrated underwriting tools
  • Efficient collaboration
  • Comprehensive quote management
UNDERWRITING

FINEOS Insurance Rating Software - Frequently Asked Questions

What is FINEOS Rate?

FINEOS Rate insurance rating software is a rating solution that allows your actuaries to build, test and implement rate revisions without reliance on IT.

How does insurance rating software help streamline rate revisions?

With FINEOS Rate you can look at calculations at a group, individual and plan level which helps streamline rate revisions and our easy-to-use dashboards mean rates can be easily changed without relying on code changes. Learn more on FINEOS.com.

How does FINEOS Rate manage proprietary rating models?

FINEOS group insurance rating software can manage rating models effectively through its patented, user-based authorities and graphical configuration rating tools. Learn more on FINEOS.com

Does group insurance rating software provide real-time analysis?

With FINEOS Rate, teams have direct control of the data which means rate amendments are tested in real-time providing much easier implementation. Learn more on FINEOS.com.

What benefits does an insurance rating engine bring to a business?

With FINEOS Rate you can improve speed to market, increase productivity, improve product agility and reduce risk through real time analysis and easy-to-use dashboards that streamline the building and implementation of complex rating algorithms.