Noble Insurance Rating Engine REST APIs provide estimated premiums for property and casualty policies based on your agency's rating factors and criteria. The engine calculates and generates premiums based on your agency's base premium, rating factors, discounts and surcharges.
It works based on an algorithm to calculate premiums. This out-of-the-box generic algorithm is compatible with most insurance carriers by default. It supports all perils, wind, hail and named storms, and you will have the option to customize the various perils. We offer consulting services for API customizations to meet your needs. This system is easily integratable with your current website or back office systems through API.
Following factors are used in the rating engine: Base Premium, Deductible Factor, Property Characteristic Factors, Coverage Factors, Location and Risk Factors. Property Characteristic Factors includes: Property Type, Age of Building, Square Footage, Occupancy Type, Construction Type, Roof Type, Number of Units, Number of Stories, Garage Type, Wall Type, Protection Class, Distance to Shoreline, Underwriting Factors (Roof age, etc.)
