A game-changer for commercial insurance rating

LONDON, UNITED KINGDOM, June 4, 2024 /EINPresswire.com/ -- ChainThat, a leading London-based insurtech known for providing SaaS-based technology products to insurance organisations, is excited to announce the integration of its Beyond Policy Administration platform (BPA) with Verisk’s new cloud-based rating engine ISO Rating-as-a-Service (RaaS). This integration makes Verisk’s latest ISO commercial lines rating information available within ChainThat’s platform, addressing the industry’s challenge of staying current with frequently changing market realities and emerging risks, such as those arising from the gig economy. Matching the next-generation policy administration in BPA with Verisk’s powerful RaaS rating solution allows ChainThat’s customers, including brokers, carriers, and MGAs, to automate rating processes and improve speed, efficiency, and accuracy in their underwriting operations.

Using its state-of-the-art connector framework within BPA, ChainThat seamlessly integrated with Verisk’s RaaS, which provides rating content that updates automatically, enabling insurers to rate commercial line policies in real time.

Vikas Acharya, CEO of ChainThat, stated, “Our collaboration with Verisk represents a leap forward in our commitment to innovation. By incorporating Verisk’s RaaS into our BPA platform, we are unlocking new possibilities for our clients, allowing them to rate policies for commercial lines efficiently and stay ahead in a rapidly evolving market. This is a testament to our dedication to the digital transformation of the insurance industry.”

Verisk’s ISO RaaS is a game-changer for commercial insurance rating, offering a cloud-based solution that simplifies access to up-to-date rating content, including loss costs, rating factors, rules, and coverage updates.

“Our RaaS rating engine provides the fastest mechanism to start writing commercial line policies with ISO” said Ron Beiderman, senior vice president of core lines products and services at Verisk. “We’re excited to be working with ChainThat to deliver a compelling solution that can encourage agility and flexibility to our mutual customers and help them in their rating, pricing, and operations.”

This addresses the industry’s challenge of staying current with frequently changing market realities and emerging risks, such as those arising from the gig economy.

###

About ChainThat
ChainThat, a London-based insurtech, provides innovative SaaS-based insurance technology products and platforms that enable brokers, carriers, underwriting agencies, and MGAs to realise the full potential of their businesses. For more information, visit www.chainthat.com.

About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities, and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

Media Contact:

Candace Boyle
the10company
+1 610-256-1068
candace.boyle@the10company.com
Visit us on social media:
LinkedIn
YouTube

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.