Intuitive Web Solutions (IWS), a provider of web-based software for P&C insurers, says its BriteCore policy administration system now supports the AAIS Homeowners By-Peril Rating Plan. The American Association of Insurance Services (AAIS) develops policy forms and rating information used by P&C carriers.
The AAIS Homeowner By-Peril Rating Plan provides loss costs for each of 10 perils down to a zip code level, plus rating relativities by peril for more than 30 risk characteristics or coverage options, says IWS. Using BriteCore, underwriters can see the amount of premium generated for each peril, and then drill down to see how that premium was derived. Additional features allow users to modify rates by entering values in the line item for a specific peril, and to add personal comments.
IWS says BriteCore allows users to define their lines of business and rates, issue and maintain policies, manage claims, generate reports, and customize system features. IWS integrated the AAIS plan into BriteCore on behalf of an AAIS member company.
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