Cogitate Rater

Cogitate Rater is a sophisticated tool that helps configure complex rate calculations to generate reliable and accurate premium quotes, fully tailored to the nuances of your business. From handling complex transactions and inflation adjustments to empowering customers with self-help rate change abilities, our modern rater is built for ease of use and strong performance.

Speed of Implementation

With Cogitate’s rater solution, we can configure a manual rater into an automated rater within a week. As rater development is a crucial and foundational step in the PAS implementation, this rapid development establishes a solid base for subsequent steps in the project, ensuring smooth and efficient progress.

Empower Users with Rater Configuration

Bring speed and autonomy to your team to make impactful adjustments in real time. Your master Cogitate Rater resides on our Low Code No Code (LCNC) platform, giving your team the tools to easily change rates without support from IT or Cogitate staff. For greater simplicity, you can enable the updating of dropdown values in the application directly using rater configuration tools.

Rater Versioning: Tracking Updates

With every change made to your rater, a new version is created with a set effective date. This ensures that the system always uses the correct rater version for rating based on every submission’s effective date. The versioning system allows for smooth transitions between different rating criteria, ensuring that updates do not disrupt ongoing processes, providing accurate, consistent premium calculations.

Comprehensive Transaction Handling

Cogitate Rater is capable of handling various transactions, including endorsements, renewals, and new business, all based on your specific business requirements. Cogitate Rater manages complex scenarios for accurate results in every situation.

For example: In a Commercial Auto scenario where several coverages are flat-charged and fully earned, when one such coverage is excluded on endorsement, the rater accurately identifies this change and, recognizing that the charge is fully earned, does not return the premium. See Treaty Oak General’s Customer Success Story for a great example of how such a complex rater within DigitalEdge Policy brings game-changing results.

Adaptive and Responsive

Our rater is designed to apply inflation adjustments based on specific intervals (such as renewals, and alternate renewals) to ensure that you maintain accurate pricing strategies that account for inflation without manual intervention

Download our product brief for the details! For MGAs interested in our list of carrier integrations, visit our ecosystem integration partners here.