NetRate Systems Introduces Value-Add Modules to Commercial Auto Rating Product

Okemos, MI, 6/3/13 – NetRate Systems, Inc., a leading supplier of ISO^® Commercial Lines Rating software for the MGA and carrier marketplace, has announced the availability of several add-on modules which provide value-added services within its ISO-based Commercial Auto Rating product. The add-on modules include an integration with VinLink (an industry-standard VIN decoding service), a Location/Vehicle Importer tool, and a Data Aggregation process for state DMV reporting.

The VinLink integration service provides a transparent web service call, sending a VIN entered in the NetRate Rating System user interface screen to VinLink’s VIN decoding service. The vehicle Make, Model, Model Year, Gross Vehicle Weight, and MSRP values are instantly returned and populate the appropriate fields in the NetRate system. Edits allow acceptance/rejection of incoming VinLink data when re-populating previously manually-entered data. License to the VinLink product is required, and can be enabled through their website at www.vinlink.com

NetRate Systems’ Location/Vehicle Importer tool allows easy, no-mistakes importing of address information for all locations on a policy, as well as vehicle information, from an Excel spreadsheet. The functionality enables imports of large fleets at the touch of a key, and eliminates errors resulting from duplicate entry. The formatted Excel spreadsheet can be provided to submitting agents to move the data entry to the point of initial contact, and reduces data entry requirements at the receiving MGA. The VinLink web service can also be embedded in the import functionality, so that upon import of the vehicles all of the information associated with the VIN is looked up and entered into the NetRate fields. This process leaves very little manual input to the user.

NetRate Systems’ DMV Data Aggregator module is a transparent functionality which automatically formats vehicle data entered into NetRate during the rating process into a data structure appropriate for upload to state DMV’s via the ISO^© Coverage Verifier Service or IVANS DMV upload facility. The functionality is triggered using a scheduled service and when executed identifies the appropriate bound transactions to obtain the vehicle information from. The vehicle information formatted in the required ISO^© or IVANS format is then transmitted to one of these entities via FTP for further processing. All of this occurs behind the scenes without any user intervention saving you valuable resource time while still meeting the state DMV reporting requirement.

According to Dave Jordan, President of NetRate Systems: “It’s critical to continue to create and support modules and services that add value to the NetRate platform. We strive to improve functionality within the core system, to provide tools that eliminate duplicate entry of data, and to enable integration of NetRate Systems processing with 3^rd party partners to improve on our world-class products.”

About NetRate Systems, Inc.
NetRate Systems, Inc. supplies Commercial Lines Rating and Policy Production Systems to the Property and Casualty insurance marketplace. With sophisticated, yet intuitive, systems designed to eliminate manual references and to fully automate the full policy life cycle, NetRate products include nationwide rating of ISO^® Business Auto, Garage, General Liability, Property, Crime, Inland Marine, Businessowners, and NCCI Workers Compensation. NetRate Systems also offers custom programming of all lines of business. NetRate Rating Systems include both desktop and web-based point-of-sale submission/ rate/ quote/ issue versions. NetRate also provides ‘hands-free’ integration of rating data to 3^rd party vendor systems to facilitate policy administration. For more information, go to www.netrate.com, or call Tom Rahl @ (517) 347-4900, x113.