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Earnix Price-It from Earnix
A comprehensive rating and pricing solution specifically designed for insurance companies. It offers advanced analytics, machine learning capabilities, real-time deployment, scenario modeling, and optimization techniques to determine optimal pricing strategies.
Product analysis by function
Rating Engines for Policy Administration
Software that calculates premiums based on risk characteristics, coverage options, and rating algorithms. These tools ensure consistent and accurate pricing across all distribution channels.
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Core Rating Logic
(15 Yes /15 Known /15 Possible features)
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Custom Rating Algorithm Support Ability to define and manage custom rating logic and algorithms, adaptable to changing actuarial requirements. |
Earnix Price-It is marketed as supporting advanced rating logic including custom algorithms, adaptable to actuarial requirements. | |
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Multi-line Support Supports rating logic for multiple lines of insurance (e.g., property, auto, life). |
Multi-line pricing support is explicitly described on the website; handles property, auto, commercial, and more. | |
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Version Control of Rating Rules Tracks different versions of rating algorithms with effective/expiry dates. |
Version control and auditability of changes are highlighted for compliance. | |
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Real-time Rate Calculation Performs rating computations in real time for fast quote turnaround. |
Solution is specifically stated to enable real-time pricing and deployment. | |
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Batch Processing Capability Rates large volumes of policies simultaneously for renewals or re-balancing. |
Product includes batch rating/processing for scenarios like rebalancing books or renewals. | |
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Dynamic Input Handling Accepts variable or custom inputs for calculations depending on product design. |
Dynamic input and custom attribute support mentioned in technical integration specs. | |
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Pre-built Templates Includes starter templates for common insurance product types and calculations. |
Includes out-of-the-box insurance templates as part of base implementation. | |
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Validations and Error Handling Automatically checks input data for consistency and notifies users of errors or anomalies. |
Validation checks mentioned as part of data ingestion and user workflow. | |
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Rate Table Management Allows for the import, export, and management of rate tables used in calculations. |
Explicitly supports rate table management and external table uploads. | |
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Support for Rating Factors Handles diverse rating factors (driver age, location, coverage limits, etc.) within algorithms. |
Can ingest all types of risk and product rating factors as per documentation. | |
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Multi-State/Region Rating Ability to apply state- or region-specific rating logic and compliance rules. |
Supports region/state-specific logic for global insurance carriers. | |
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Automated Recalculation Detects data changes and automatically recalculates affected premiums. |
System automatically recalculates pricing as data changes; designed for agility. | |
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Hazard and Tier Assignment Dynamically assigns risk tiers or hazard classes impacting the rating. |
Earnix supports dynamic segmentation and the assignment of risk tiers. | |
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Experience/Exposure Rating Supports specialized rating methods using claims history or exposure data. |
Claims and exposure analytics are a core feature (see actuarial/exposure rating). | |
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Base Rate Management Flexible management of base rates and their adjustment over time. |
Solution is able to manage base rates and allow flexible changes. |
Integration Capabilities
(11 Yes /11 Known /14 Possible features)
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API Integration Exposes rating logic via REST/SOAP APIs for seamless use by portals, agencies, and partners. |
Comprehensive API documentation available; integration widely promoted. | |
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Data Import/Export Supports importing and exporting of rating data in standard formats (CSV, XML, JSON). |
Multiple data import/export formats are featured in integration APIs. | |
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Policy Administration System (PAS) Connectivity Provides out-of-the-box or configurable interfaces to policy admin systems. |
Integrates with major PAS vendors and homegrown admin systems according to partner materials. | |
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Document Management Integration Connects to document generation and management tools for the creation of rating documentation. |
No information available | |
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Third-party Data Provider Integration Ability to pull in external data (credit, telematics, catastrophe, etc.) into rating calculations. |
Earnix supports connection to third-party data providers (telematics, credit, etc.) | |
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Underwriting Integration Seamlessly interacts with underwriting systems and workflows. |
Integration with underwriting workflows and rules is mentioned in solution sheets. | |
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Legacy System Support Interfaces with older systems often used by large insurers. |
Legacy system integration is available via APIs and connector modules. | |
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Real-time Quote Delivery Enables delivery of quotes to web/app distribution channels in real time. |
Enables real-time quote distribution to distribution channels (e.g., web portals). | |
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Front-end UI Integration Connects with user-facing applications for quote and bind processes. |
Integrates with agent/user front ends for real-time, bindable quoting. | |
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API Call Latency The average response time for a rating API call. |
No information available | |
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Concurrent API Users Supported Number of simultaneous API consumers the system can handle efficiently. |
No information available | |
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Event Notification/Webhooks Pushes notifications or events to other systems when certain rating events occur. |
Webhooks and event notifications are supported for system integrations. | |
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Custom Integration SDKs Provides SDKs or toolkits to facilitate integration with custom applications. |
SDKs for integration and data pipelines are referenced. | |
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Single Sign-On (SSO) Supports SSO to streamline user authentication across integrated systems. |
Single Sign-On (SSO) appears in security documentation. |
Configurability & Flexibility
(12 Yes /12 Known /12 Possible features)
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No-code/Low-code Rule Editing Allows business users to modify rating logic without programming. |
No-code and low-code options touted for business user rule updates. | |
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Custom Field Support Easily add, remove, or modify input fields and variables for new products. |
Custom data field support is included; flexible product setup. | |
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Dynamic Workflow Designer Design and adjust rate calculation workflows visually. |
Graphical workflow and logic editors described in product literature. | |
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Conditional Logic Handling Create complex conditional rules for different situations. |
Conditional logic handling is fundamental to price optimization modeling. | |
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Business Rules Engine Rules engine for defining and managing non-technical business logic. |
Business rules engine is a core component according to solution information. | |
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Granular Permission Settings Control who can view, edit, or publish rating changes. |
Granular role permissions for rule change management are present. | |
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Multi-language Capabilities Supports multiple languages for global or multi-lingual deployments. |
Multi-language support is promoted for global carriers. | |
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Product Version Management Manages different product and rating versions concurrently. |
Supports side-by-side management of multiple product and rating versions. | |
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Simulation/Sandbox Environment Test and preview rating changes in a safe non-production environment. |
Sandbox/testing environments are available for modeling and validation. | |
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Change Approval Workflow Built-in process for reviewing and approving rating updates. |
Change approval workflows mentioned in connection with governance. | |
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Rule Cloning & Reuse Rapidly duplicate and adjust existing rating rules for new use cases. |
Rule cloning/copying supported for rapid new product configuration. | |
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Internationalization (i18n) Easily adapt rating logic for different currencies, geographies, and languages. |
Internationalization (i18n) features are referenced for currencies/regions. |
Performance & Scalability
(7 Yes /7 Known /11 Possible features)
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Average Calculation Time Typical duration of a single premium calculation in a standard environment. |
No information available | |
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Peak Transactions Per Second Maximum supported rating transactions per second, under load. |
No information available | |
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Concurrent Quote Processing Number of simultaneous quote calculations handled without degradation. |
No information available | |
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Auto-scaling Support Can automatically scale system resources based on demand. |
Auto-scaling supported in cloud deployments per technical deployment information. | |
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High Availability (HA) Designed for minimal downtime with redundancy and failover. |
High-availability architecture is available as an option. | |
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Disaster Recovery (DR) Has disaster recovery strategies for quick restoration in case of system failures. |
Disaster recovery/BCP described in deployment materials. | |
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Service Level Agreement (SLA) Uptime Guaranteed system uptime in production environment. |
No information available | |
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Geographically Distributed Deployment Deploys rating compute resources across multiple regions/data centers. |
Global/multi-region cloud deployments available. | |
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Load Balancing Distributes rating requests across multiple servers for optimal speed. |
Load balancing is a standard part of the hosted solution. | |
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Resource Utilization Dashboard Provides admin dashboards showing active load and resource usage. |
Resource usage monitoring and dashboards are available to administrators. | |
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API Rate Limiting Configurable thresholds to prevent system overload from excessive requests. |
API rate limiting described for API exposure. |
Compliance & Regulatory Support
(9 Yes /9 Known /11 Possible features)
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Audit Logging Tracks all rating rule changes and calculation executions for full auditability. |
Full audit trails and logging of every rating change are highlighted for compliance. | |
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Regulatory Rule Templates Built-in rules/templates for common state and country compliance scenarios. |
Library of regulatory rule templates for common jurisdictions available. | |
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Automated Compliance Checking Flags rating approaches that violate known regulatory requirements. |
Automated compliance validation is marketed as one of the core value propositions. | |
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Documentation Generation Automatically prepares documentation of rating algorithms for regulators. |
Product auto-generates documentation for regulatory review. | |
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Change Traceability Ensures all changes to logic are tracked by user, timestamp, and rationale. |
Tracks change approvals, user stamps, and rationale. | |
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Regulator Portal Access Offers restricted access for regulatory review of configuration. |
No information available | |
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Surcharge/Discount Rule Compliance Automatically enforces allowed surcharges and discounts for each jurisdiction. |
System enforces compliance with discount/surcharge limits as per jurisdiction. | |
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State Filing Support Assists in preparing filings for rating changes with departments of insurance. |
State filing process support is referenced in compliance documentation. | |
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Retention Policy Management Configurable retention periods for data in accordance with legal requirements. |
Retention policies for compliance can be configured (privacy/GDPR support). | |
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GDPR/CCPA Readiness Supports controls for privacy and data protection compliance. |
Product specifically lists support for GDPR and CCPA compliance. | |
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Redlining Detection Helps detect unlawful discrimination in rating algorithms. |
No information available |
Test and Quality Assurance
(9 Yes /9 Known /10 Possible features)
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Automated Test Suite Includes built-in automated tests to validate rating outcomes. |
Automated test cases are built-in to validate rule and pricing logic. | |
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Regression Testing Support Ensures new rating rules do not introduce errors into existing logic. |
Regression testing capabilities highlighted in QA information. | |
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Scenario Simulation Enables creation and execution of what-if or scenario testing. |
Scenario and what-if simulation environment is a consistent theme in Earnix marketing. | |
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Rate Comparison Tool Compares outputs before and after rule changes for accuracy. |
Rate/result comparison tools available for pre/post-change analysis. | |
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Approval Gates for Deployment Automated or manual approval required before changes go live. |
Manual and automated approval gates available per governance requirements. | |
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Automated Error Reporting Logs and reports errors occurring during calculations. |
Automated error logging and reporting built into QA/test functions. | |
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Test Data Management Tools for creating, storing, and maintaining test cases and sample data. |
Test data management tools are referenced. | |
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Roll-back Capability Instantly revert rating rules to a previous version if an issue is found. |
Roll-back/restore version features documented for rapid recovery. | |
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Code Coverage Metrics Provides stats on test coverage for custom algorithms. |
No information available | |
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Synthetic Data Generation Generate random but realistic datasets for testing. |
Synthetic data generation is available for modeling and test. |
User Experience & Usability
(10 Yes /10 Known /10 Possible features)
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Intuitive User Interface User-friendly dashboard for configuring, monitoring, and managing rating logic. |
Modern, intuitive user interface is emphasized in all product demos. | |
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Customizable Dashboards Users can personalize data views and analytic dashboards. |
User/dashboard customization featured in product sheets. | |
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Help & Tooltips Contextual help, documentation, and tooltips embedded throughout. |
Real-time help and tooltips embedded per user experience documentation. | |
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Guided Workflows Wizard-style screens to support untrained business users. |
Guided workflows are built for non-technical business users. | |
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Role-based User Access Differentiated access for actuaries, product managers, and IT staff. |
Role-based access and user profiles are supported. | |
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Bulk Editing Tools Easily make changes to multiple products or rules at once. |
Bulk editing and mass update tools are available for products/rules. | |
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In-product Training Modules Learning/training integrated into the product for faster onboarding. |
In-app product training referenced in onboarding information. | |
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Search and Filtering Find rules, products, or documentation quickly via search. |
Advanced search/filtering UI elements shown in demo videos. | |
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Accessibility Standards Meets standards for accessibility (WCAG, ADA, etc.). |
UI accessibility outlined as a design standard. | |
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Mobile-friendly Interface Optimized for use on mobile devices and tablets. |
UI is responsive and mobile-friendly according to official screencasts. |
Security & Data Protection
(10 Yes /10 Known /10 Possible features)
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Data Encryption at Rest All data stored by the system is encrypted and protected from unauthorized access. |
All data stored is encrypted at rest (per security whitepaper). | |
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Data Encryption in Transit Protects data as it moves between systems and users. |
Product documentation shows transit encryption (HTTPS, TLS) for integrations. | |
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User Authentication Mechanisms Supports modern authentication (OAuth, SAML, etc.). |
Supports industry authentication protocols (OAuth, SAML, OpenID). | |
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User Activity Monitoring Monitors and logs all user activity in the system. |
Tracks and logs all user activity in the system for audit. | |
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Role/Permission-based Access Restricts sensitive configuration actions to approved personnel. |
Supports RBAC (Role-based Access Control). | |
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Regular Vulnerability Scanning Proactively checks for and remediates security weaknesses. |
Vulnerability scanning mentioned in security/compliance documentation. | |
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Multi-factor Authentication (MFA) Requires multi-step authentication for high-privilege actions. |
Multi-factor authentication supported for sensitive roles. | |
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Security Patch Management Automated or tracked deployment of security updates. |
Patch management and release updates handled by Earnix support. | |
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Data Masking Obscures sensitive data in test or reporting environments. |
Data masking in test and analytic environments is available. | |
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Intrusion Detection/Prevention Monitors for unauthorized access attempts in real time. |
Intrusion detection layer deployable for hosted and cloud solutions. |
Analytics & Reporting
(10 Yes /10 Known /10 Possible features)
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Premium Distribution Analysis Shows how premiums are distributed across insured populations, geography, or other factors. |
Premium distribution analysis is an advertised analytics feature. | |
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Loss Ratio Reporting Calculates and displays loss ratios based on input data and rating results. |
Loss ratio reporting is part of analytics module. | |
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Trend Analysis Tools Detect trends in rating inputs, outcomes, or business performance. |
Trend analysis tools are included as standard. | |
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Outlier Detection Reporting Identifies anomalous rating results automatically. |
Automatic outlier detection and alerts available. | |
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Export to Excel/CSV Allows full data export for further offline analysis. |
Export to Excel/CSV is a standard feature. | |
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Drill-down Analytics Explore rule or input-level contributions to final pricing. |
Drill-down into analytics and pricing results available. | |
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Custom Report Builder Create bespoke reports tailored to organization needs. |
Custom report builder offered as part of analytics layer. | |
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Scheduled Reports Automate creation and delivery of analytic reports. |
Scheduled analytic report generation supported. | |
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Visualization Tools Graph and visualize rating outputs and trends. |
Visualization and charting tools included. | |
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Integration with BI Tools Pushes data into external BI solutions (e.g., Tableau, Power BI). |
Integration with external BI tools such as Tableau and Power BI is supported. |
Deployment & Operations
(9 Yes /9 Known /9 Possible features)
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Cloud Deployment Option Available as a hosted SaaS or private cloud deployment. |
Cloud deployment available as SaaS or private cloud option. | |
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On-premises Deployment Option Can be installed and operated within a client data center. |
On-premises install available for regulated/global customers. | |
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Continuous Delivery Support Supports modern DevOps and CI/CD pipelines. |
Continuous integration/continuous delivery (CI/CD) supported. | |
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Zero-downtime Updates Allows release of new features/fixes without interrupting rating service. |
Supports zero-downtime upgrades/updates in SaaS mode. | |
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Containerization Support Supports deployment as containers (e.g., Docker, Kubernetes). |
Supports deployment as Docker containers and/or Kubernetes. | |
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Automated Backups Configurable data backup and restore processes. |
Automated scheduled backup included in product operations. | |
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Multi-environment Management Handles development, QA, staging, and production environments. |
Dedicated environments for dev, QA, staging, and production. | |
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Monitoring & Alerting Active system health monitoring and alerts for issues. |
System health and alert monitoring supported (mention of proactive monitoring). | |
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Change Management Controls Integrated change management tools for tracking and approving changes. |
Change management tools are included as part of governance. |
Support & Vendor Services
(8 Yes /8 Known /8 Possible features)
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24/7 Technical Support Vendor provides round-the-clock technical support services. |
24/7 global support is offered for premium customers. | |
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Dedicated Account Manager Single point of contact for your account and escalations. |
Dedicated account manager included in larger client agreements. | |
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Implementation Consulting Professional services for system setup and go-live. |
Implementation consulting available from Earnix directly. | |
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Training Services Onsite/remote training for business, IT, and actuaries. |
Vendor offers training for actuaries, business, and IT users. | |
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Online Knowledge Base Extensive documentation, FAQs, and how-to resources. |
Online documentation, knowledge base, and FAQ available. | |
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Service Level Agreements (SLAs) Contractual uptime and issue resolution guarantees. |
Service level agreements for uptime and support are available. | |
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Community Forums Peer-to-peer support and product community interactions. |
Community forums and peer support available for product users. | |
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Customer Success Program Proactive engagement to help you meet business goals. |
Earnix has a formal customer success engagement program. |
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