Real-time for Homeowners’s Insurance in 2013
Boston Software, the company behind Winrater/Single Point announced that Real-Time Rating for Homeowner’s insurance will likely be rolling out in 2013. Here’s what they had to say:
We still love manufactured rates and probably always will (it was our first love, after all), but no doubt, we recognize the beauty in Real-Time too. As more and more carriers implement multi-variate rate filings, geocoding, predictive analytical modeling, credit scoring, etc., the need for Real-Time Rating becomes more critical.
As always, we’ll continue to provide you with the technologies you need when you need them.
In the meantime, some things you need to know about Real-Time Rating for Homeowners:
• Quincy Mutual and Union Mutual of Vermont are set to plug into SinglePoint for Real-Time Homeowners quotes in November.
• Homeowners Real-Time Rating will work exactly the same as it does for Auto Real-Time Rating in WinRater/SinglePoint.
• We are currently working on an additional 10 HO carriers for Real-Time Rating and expect to roll them out in 2013.
Recently updated ACORD Forums
In addition, the company announced that it is currently in the process of rolling out an ACORD Form updated to include the following improvements.
- Choice of old or new Homeowners ACORD New Business Application
- Homeowner/Dwelling Fire New Business Application Updates for MA/RI
- Auto 2A (Transfer of Insurance) Form Update.
For more information, check out the company’s blog Rating News.
