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Old 09-01-2017, 10:51 AM   #1
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Searching for Comparative Rater Searching for Comparative Rater
I received an email from a comparative rater company, and I cannot find it. I liked the concept because it popped up tabs for each of the companies being quoted, collected the information then went to each site to run the actual quote instead of using the rater's system to pull a rate. Then when you went to the company's site that you chose, the quote was saved on there. It would even make a nice comparison report for you. Has anyone heard of that before.
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Old 09-01-2017, 11:44 AM   #2
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VolAgent on Searching for Comparative Rater
 
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Searching for Comparative Rater Re: Searching for Comparative Rater
You basically described every rater out there. They are all going to do this to varying degrees.

LMGTFY

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Old 09-01-2017, 12:55 PM   #3
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Searching for Comparative Rater Re: Searching for Comparative Rater mshmsh is the thread starter for: Searching for Comparative Rater

The reason this one was different from others I used in the past is that it didn't use an internal company rating system. You put in your login and password for each of your licensed companies, and it went to those sites to actually run them each on the insurance company's actual site. Then it brought the quotes back and made a comparison report based on the quote it ran on the individual sites.
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Old 09-01-2017, 01:01 PM   #4
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VolAgent on Searching for Comparative Rater
 
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Searching for Comparative Rater Re: Searching for Comparative Rater
Originally Posted by mshmsh View Post
The reason this one was different from others I used in the past is that it didn't use an internal company rating system. You put in your login and password for each of your licensed companies, and it went to those sites to actually run them each on the insurance company's actual site. Then it brought the quotes back and made a comparison report based on the quote it ran on the individual sites.
Again, you are describing about every comparative rater for home and auto on the planet.

They all use your login to run the quotes and you can just go right over to the carrier and pull it up. As a matter of fact, you can't run a quote with a carrier you do not have a login for. Now some support shared logins, for people who belong to clusters, MGAs, etc. It allows an agent to run a quote, but they can't access the login info and thus can't see the carrier side. But at least they can run quotes and then send in for final numbers and to be bound.

Also, a comparative rater is not going to run reports, as many companies charge, so they leave that up to you once on the carrier site.

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Old 09-01-2017, 01:59 PM   #5
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Searching for Comparative Rater Re: Searching for Comparative Rater mshmsh is the thread starter for: Searching for Comparative Rater

Thanks. I should have chosen my words better. By report I meant quote rate comparison.
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Old 09-03-2017, 07:55 PM   #6
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lrixford on Searching for Comparative Rater
 
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Searching for Comparative Rater Re: Searching for Comparative Rater
There are a lot of factors in choosing a comparative rater.

The first thing that will matter when choosing a comparative rater is knowing what you write. Do you write a lot of non-standard auto, more preferred auto with home or do you often sell motorcycle policies? Maybe all three?

Next, you need to know who you write. This is often the largest factor in choosing a comparative rater. If the system does not include your most often written carriers, it will not bring you much value. However, do not get hung up on the fact it might be missing one carrier that you do not regularly write much business. Often carriers will jump on a rater based upon your input of what systems are right for you. (Remember, you the agent, is the king of the room when it comes to making things happen with your carriers and vendors.)

Third, does it integrate with your agency management system? Does it give you a choice in which management system you choose? Or does a vendor's system lock you into their agency management ecosystem? You should choose a rater that can integration with the agency management system you chose.

Finally, features. You need a comparative rater that does more than just rating. Does it help you automate the lifecycle of your clients within your agency? Does it help convert them through the use of email marketing? Does it provide you reports to not only tell you who and what you wrote but how well each producer and carrier is performing?

These are just a few things you should be looking at when vetting a comparative rater. As you probably surmised ITC has been offering comparative rating to insurance agents since 1985. If you have any questions please feel free to reach out to us (800) 383-3482 or learn more at https://www.getitc.com/.

Thanks,

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Laird Rixford
President
Insurance Technologies Corporation
Insurance Website Builder
AgencyBuzz
TurboRater
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