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Top Insurance Underwriting & Rating Software and Tools
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Top Insurance Underwriting & Rating Software and Tools

September 2024

Underwriting software, and rating software for that matter, is designed to improve the work of insurance companies. Thanks to underwriting tools, employees don’t have to do mundane tasks and can focus on what’s really important – serving customers. Here’s the list of insurance underwriting software. If you want to create a similar application, take a look at how others do it.

What exactly is insurance underwriting software?

An insurance underwriting software, sometimes also called a life insurance underwriting software or simply rating software, enables users to write rules and policies. These are automatically used in the underwriting process. Then, applications perform actions to cooperate with clients on contracts and claims.

What insurance underwriting software can do:

  • execute previously written insurance policies
  • perform pricing and rate analyses
  • calculate standard and premium quotes across various channels
  • vary rates according to policy and risk information
  • create auditable underwriting and rating paper trails

Another important aspect of insurance rating software

The main, and often the untold purpose of underwriting tools, is something else. Life insurance underwriting software is responsible for maintaining the conversion of prospects into customers. There are two main factors that contribute to that: corporate and regulatory requirements. Both get a say about insurance policies and both can tip the scales for the potential customers that want to submit a claim.

Being, at the same time, software for managing submissions of tasks and claims, and a rating engine require serious a skill in insurance software development. A rating engine on its own calculates premiums by coverage and validates variants from standard rates. You want to make sure the development of that kind of product is held to the highest standards.

Benefits of an underwriting software

These are very measurable:

  • attracting new customers with a quick application process
  • development of innovative insurance policies
  • boost productivity for underwriters through overall automation

If you want to compete in this market category, consider browsing our list of already existing products. Then, figure out what you want to change and find the right software development partner for your vision.

51

Abby Rating Systems

10-49 Employees
Denville, United States
Est. 1983
Abby Rating Systems has available a complete rating program for the New York Assigned Risk Plan (NYAIP). This comprehensive package includes rates for both Private Passenger and Commercial risks, and is priced at only $199 (plus applicable tax and 3% Royalty Fee).
Specialities
  • Insurance Software
  • Personal Automobile Insurance Plan
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52

ACS 2000

10-49 Employees
Troy Mills, United States
Est. 1979
Comparative rating and client management solution for agencies. Comparative Rating, Underwriting, and more.
Specialities
  • InsurTech
  • Software
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53

C2MS Insurance ERP

10-49 Employees
Reading, United Kingdom
Est. 2004
C2MS is an innovative Insurance ERP, providing sales pipeline, claims and policy administration.
Specialities
  • IT investment
  • Research and Development
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54

Clik.ai

10-49 Employees
Toronto, Canada
Est. 2017
AI powered automated underwriting platform for commercial real estate brokers and lenders.
Specialities
  • Automated Underwriting Software
  • Commercial Real Estate
  • Investments and Financing
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55

Compulife Quote

10-49 Employees
Harrodsburg, United States
Est. 1987
Life insurance comparisons for your desktop, mobile and the web.
Specialities
  • Insurance Quote Software
  • Insurance Comparisons
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56

DigiFi Loan Origination System

10-49 Employees
Jersey City, United States
Est. 2017
Go beyond traditional underwriting to reduce default rates and increase loan volumes with predictive risk models trained using DigiFi’s automated machine learning platform
Specialities
  • Automated Digital Lending
  • Digital Products
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57

E!Z Work Comp Rater

10-49 Employees
Frankfort, United States
Est. 1991
E!Z Work Comp Rater is a knowledge-based tool: that stays current on carrier practices, administrative changes, and state laws and revises its software to take into account whatver rating changes result.
Specialities
  • Information Services
  • Consulting Service
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58

Fedo

10-49 Employees
Bangalore, India
Est. 2018
Fedo has helped insurers to enhance sales, reduce costs and enrich the quality of their portfolio using data and technology.
Specialities
  • Future Health Risks
  • Demographic Information
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59

FundMore.ai

10-49 Employees
Ottawa, Canada
Est. 2018
For over 20 years now, I’ve been working in the financial world, from large banking institutions to small boutique brokerages and a few start-ups. I’ve helped clients build their wealth, buy their first home, refinance their investment property, and access capital to develop their commercial property. I’ve always believed that understanding my client’s needs is more important than selling them on a deal.
Specialities
  • Automated Underwriting System
  • Machine Learning
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60

GO-INSUR

10-49 Employees
London, United Kingdom
Est. 2003
Get new products to market faster, unlock revenue quicker and achieve greater ROI with GO-INSUR – an innovative digital insurance platform. GO-INSUR is the go-to Quote & Buy solution for insurers, brokers and MGAs, enabling insurance businesses to leave their cumbersome legacy systems behind, and embrace a cloud-based policy administration system that’s agile, robust and rapidly scalable. Built by one of the UK’s leading digital insurance specialists whose existing client base includes Marsh, Legal & General, British Friendly and Hiscox, GO-INSUR gives your business total control and the confidence to create, manage and distribute new products to market rapidly, enabling accelerated growth, increased profit margins and lower distribution costs. Our agile approach to building insurance policy software, means your business will benefit from a modular Quote & Buy platform that’s fully responsive and easily configurable, plus our applied design thinking expertise ensures your policy admin system offers a seamless customer journey and enhanced UX – for both underwriters and customers. Boasting a slick design and user-friendly interface, GO-INSUR provides insurers with a cutting-edge quotation engine that offers limitless-scale and intelligent API integrations with well-known back-office and payment gateways, enabling your business to rapidly grow and respond to changing market conditions with a more flexible, efficient PAS. As a customer and broker portal, GO-INSUR enables you to sell policies direct to the customer or via a broker, and incorporates intelligent commission controls that allow you to allocate and track policy purchases. Our highly cost-effective SaaS model enables insurance firms to manage and implement omnichannel products with ease from a single self-service portal, that offers an optimised quotation process with fully automated quotes and email communications. Adapt your insurance business to the 21st century with GO-INSUR, and discover how an agile approach to digital insurance can drive innovation, enhance customer experience, and place your products ahead of the competition.
Specialities
  • Insurance Software
  • Digital Transformation
  • Service Design
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61

i-underwrite

10-49 Employees
Saint Johns, New Zealand
Est. 2006
Automated life and health underwriting solutions for all models of distribution.
Specialities
  • Auto-underwriting Software
  • Health and Travel Insurance
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62

InsCipher Insurance Program Management Services

10-49 Employees
Pleasant Grove, United States
Est. 2016
At InsCipher, our mission is to simplify surplus line tax filings. We help agencies of all sizes accomplish this by offering a variety of solutions tailored to meet their needs. Whether it’s filings done for you through our in-house Filing Services™ team or helping your agency implement InsCipher Connect™, our innovative surplus lines tax filing automation software to file your surplus line taxes more efficiently, InsCipher can help. Spend less time tracking compliance requirements, deadlines, and tax rates, and more time on what matters most– growing your surplus lines business. Request a free strategy call at https://www.inscipher.com to determine the solution that fits your agency.
Specialities
  • Management Software
  • Payments
  • Reporting
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63

Kalepa

10-49 Employees
New York, United States
Est. 2018
OUR MISSION To eliminate deadweight loss in commercial insurance OUR BELIEFS Successful Commercial Underwriting is a Hard Problem The Future of Underwriting has Underwriters at its Center Combining Human & Artificial Intelligence Leads to Superior Results Technology Solutions, especially AI, should be in the Service of the Business
Specialities
  • Commercial Insurance
  • Artificial Intelligence
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64

ML powered Automated Loan Underwriting platform

10-49 Employees
Gurgaon, India
Est. 2016
Monsoon CreditTech’s technology has been able to help a diverse set of leading Indian lenders reduce portfolio delinquency rates, boost approval rates and maximize loan-loss adjusted net interest income on a variety of loan portfolios using traditional financial data and alternate data.
Specialities
  • Artificial Intelligence
  • Loan-underwriting Platform
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65

PolicyFly

10-49 Employees
New York, United States
Est. 2018
MGA’s, MGU’s and insurance companies depend on PolicyFly to grow their distribution and elevate their efficiency by transforming existing programs or launching new ones. PolicyFly provides the most intuitive application experience by accepting submissions online, by email and by document-data ingestion. Bolster application and underwriting quality with numerous 3rd-party data integrations. Our configurable rating system and flexible rating integrations elevate your underwriting speed.
Specialities
  • Insurance Programs
  • Management Platform
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66

PROMOS

10-49 Employees
Columbia, United States
Est. 2001
Leading tools and technology for rating, underwriting, policy issuance and workflow.
Specialities
  • Policy Administration
  • Document Production
  • Billing
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67

Q-Rater

10-49 Employees
Spokane, United States
Est. 1997
A fully featured, internet-based rating engine. Enables you to quote consumers online from your website.
Specialities
  • Agency Management Software
  • Commercial Rating
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68

QuoteRush

10-49 Employees
West Palm Beach, United States
Est. 2011
Our software is a simple to use rating tool that allows you to quickly quote all of your insurance carriers from a single entry screen.
Specialities
  • Comparative Rater Software
  • Insurance Agencies
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69

Rating for Agents

10-49 Employees
Mt. Arlington, United States
Est. 1982
Designed for use by agents and brokers; quotes can be generated with a few keystrokes.
Specialities
  • Property and Casualty Insurance Software
  • Policy Processing System
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70

RightCalc

10-49 Employees
Manchester, United Kingdom
Est. 1997
Cloud-hosted software for real-time underwriting, rating and price distribution across multiple sales channels.
Specialities
  • Software Solutions
  • Web Applications
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71

RiskVille

10-49 Employees
Blackrock, Ireland
Est. 2018
RiskVille is a flexible scalable cloud solution for insurance companies, insurance brokers, insurance agencies, and captive managers with modules like: 1) CRM 2) Rating, Quoting, Policy Management, and issuance 3) Billing and reporting 4) Claims Management 5) Document and Mail handling. Its single data storage accessible 24/7 for managing personal lines, commercial lines, or benefits. Our know-how allows us to set 3 times lower price than competitors. We can implement it for you within 3 days.
Specialities
  • Policy Management
  • Claims Management
  • Rating
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72

SinglePoint

10-49 Employees
Needham, United States
Est. 1995
SinglePoint is part calculator, part sales tool, and all good. It connects you with carriers, the RMV, and a whole set of features that make it easy to service and sell your book of business.
Specialities
  • Rating Software
  • Data Exchange Platform
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73

WinCCiRater

10-49 Employees
Laplace, United States
Est. 1983
Personal lines rating and policy management system. Comparatively rates: Automobile, Homeowner, Dwelling, and more.
Specialities
  • Comparative Rating
  • Policy Management
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74

BritAmerica Rating Software

1-9 Employees
Harlingen, United States
Est. 1998
BritAmerica is a rating software designed for underwriting professionals.
Specialities
  • Computer Software Development
  • Public Relations
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75

EZ-RATER

1-9 Employees
Boxford, United States
Rating software for property and casualty insurance.
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76

Insurforce

1-9 Employees
London, United Kingdom
Est. 2018
Insurforce is an omni-channel insurance Quote and Buy platform built on an innovative Underwriting Engine from House of Insurtech. It is a modern, cloud-based platform that delivers superior digital experiences to both the end customer and administrators. The platform is delivered as a set of APIs that can be consumed by either the clients own web site or using the Insurforce front-end. Splitting the front-end from the underlying platform allows for greater flexibility in designing customer journeys.
Specialities
  • Digital Insurance Platform
  • Policy Admin
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77

LTC Quote Plus

1-9 Employees
Needham, United States
Est. 1992
Gives quotes for one customer or for a couple. Different levels of state specific insurance. Fits with almost all LTC insurance plans.
Specialities
  • Insurance Plans
  • Quoting Software
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78

NinjaQuoter

1-9 Employees
Austin, United States
Est. 2005
Cloud based solution that provides life insurance quoting and lead generation forms for agent websites.
Specialities
  • Marketing Service
  • Insurance Quoting
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79

OPUS

1-9 Employees
Birmingham, United Kingdom
Est. 2006
Internet-based insurance agent administration system for policy underwriting.
Specialities
  • Designing and Developing Software
  • Insurance Industry
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80

Premium Finance Manager

1-9 Employees
Fort Lauderdale, United States
Est. 1998
Financial contracts and insurance company relationships management solution.
Specialities
  • Insurance
  • Software
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81

QBIS

1-9 Employees
Oakland, United States
Est. 2015
Solution to help insurance agencies generate quotes, sell policies, maintain compliance, and more.
Specialities
  • Small Business Insurance
  • Quote Service
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82

QuoteClick

1-9 Employees
Harbor City, United States
Est. 1981
QuoteClick.com dental insurance rating software automates rate management and policy underwriting for insurance agencies and companies.
Specialities
  • Insurance Rating Software
  • Insurance Policy
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83

AISUS Rating Service

Bolivar, United States
Comparative rating, underwriting, policy, credit service for auto, home, farm; agent, mutual, carrier.
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84

AQS Quoting Software

Naperville, United States
Est. 2004
Auto and homeowner insurance quoting software for Alliance system.
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85

QuoteBreeze

Allows small agencies to instantly create powerful insurance websites with interactive quote building technology.
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