Real Time Rating with Evolution™

In Evolution™, Real Time rates are not programmed and rated by our software.  Evolution™ quotes come straight from the carrier via our XML import/export capability, providing true Real-Time rating.  Your Real-Time quote is automatically saved at both the carrier website, where it was rated, and in Evolution™.

What is Real-Time Rating?

Real-Time Rating, is the future of comparative rating... but it's also largely misunderstood by agents and CSR’s.   To understand real-time and what the benefits are, it first helps to understand how comparative rating has traditionally worked.

Real-Time Rating vs. Traditional Rating:

With Real-Time rating, there are no calculations done within the comparative rating software.   Instead, the rater transmits the data directly to the carrier's server where the rates are then calculated by the carrier's rating program and returned in “real-time” so that they are 100% accurate and up-to-the minute.

Comparative raters traditionally are programmed or manufactured with rate factors supplied to us by the carriers prior to scheduled release dates.   When you enter your client data into the comparative rating software it then calculates the rates internally, using these factors, and presents you a quote.   For your convenience, Evolution™ continues to provide carriers with manufactured rating, but this is only available for carriers not yet able to utilize Real-Time rating. Once Real-Time is implemented, we discontinue manufactured rating for that carrier.

Real-Time Rating versus Real-Time Processing:

Many agency personnel are also confused as to the fact that there is a difference between Real-Time Rating and Real-Time Processing.   Real-Time Processing is a feature of some agency management systems which allow agents to transmit changes to existing policies, but it does not allow you to quote new business.   In contrast, Real-Time Rating is for quoting both new and renewal business.

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