Workflows — Quoting
Rating Engine & Quoting
ISO class-code intake, schedule rating, premium calculation, and ACORD form generation — in a single quoting workflow for commercial lines underwriters.
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Rating Engine
ISO class-code based schedule rating.
The Irys rating engine supports commercial lines schedule rating built around ISO class codes. Underwriters enter the ISO class code at submission — the engine pulls the applicable base rate, schedule modifiers, and premium calculation rules automatically.
Rate table management is handled within the platform. Manual quarterly spreadsheet updates are replaced by a structured rate-entry interface with version control. When ISO updates rate tables, changes are isolated to the affected class codes and test-rated before activation.
- ISO class-code lookup and validation at submission intake
- Schedule rating modifiers: experience, schedule, prospective
- Multi-LOB quoting: GL, commercial auto, property, inland marine
- ACORD 125/126/140 form generation at bind
- Full audit trail: every rate component, every modifier, logged
Rating Calculation Example
Class Code 6415 — Base Rate
$12,400
Schedule modifier (+12%)
+$1,488
Experience modifier (0.87)
−$1,808
Calculated Premium
$12,080 / yr