ChainThat's BPA Platform Integrates With Verisk's ISO Rating-As-A-Service (RaaS) Solution

ChainThat, a leading London-based insurtech known for - providing SaaS-based technology products to insurance organisations, is excited to announce the integration of its Beyond Policy Administration platform (BPA) with Verisk’s new cloud-based rating engine ISO Rating-as-a-Service (RaaS). This integration makes Verisk’s latest ISO commercial lines rating information available within ChainThat’s platform, addressing the industry’s challenge of staying current with frequently changing market realities and emerging risks, such as those arising from the gig economy. Matching the next-generation policy administration in BPA with Verisk’s powerful RaaS rating solution, allows ChainThat’s customers, including brokers, carriers, and MGA’s to automate rating processes and improve speed, efficiency, and accuracy in their underwriting operations.

Using its state-of-the-art connector framework within BPA, ChainThat seamlessly integrated with Verisk’s RaaS, which provides rating content that updates automatically, enabling insurers to rate commercial line policies in real-time.

Vikas Acharya, CEO of ChainThat, stated, “Our collaboration with Verisk represents a leap forward in our commitment to innovation. By incorporating Verisk’s RaaS into our BPA platform, we are unlocking new possibilities for our clients, allowing them to rate policies for commercial lines efficiently and stay ahead in a rapidly evolving market. This is a testament to our dedication to the digital transformation of the insurance industry.”

Verisk’s ISO RaaS is a game-changer for commercial insurance rating, offering a cloud-based solution that simplifies access to up-to-date rating content, including loss costs, rating factors, rules, and coverage updates.

“Our RaaS rating engine provides the fastest mechanism to start writing commercial line policies with ISO” said Ron Beiderman, senior vice president of core lines products and services at Verisk. “We’re excited to be working with ChainThat to deliver a compelling solution that can encourage agility and flexibility to our mutual customers and help them in their rating, pricing, and operations.”

This addresses the industry’s challenge of staying current with frequently changing market realities and emerging risks, such as those arising from the gig economy.