Policy and premium / Rating engine
Your filed rate book, executed exactly as filed
Your organization’s own tables and arithmetic steps, executed verbatim — with a full step-by-step trace kept behind every premium, and a corrected rate always a new, dated book rather than an edit to the old one.
Premium is written only by a rating execution — never typed anywhere. Any premium on the platform points at the run that produced it.
Can you explain this premium to a regulator?
Yes, from the run itself. Every execution writes a permanent rating run with the full step-by-step trace, the taxes, surcharges and fees, and the total. Which book governed is not a guess either: among published books matching the state and policy type, effective on or before inception, exact matches beat blanks and the latest effective date wins.
How a premium is produced
Configuration, not code
A rate book is three kinds of content and one rule: once published, it never changes.
Factors
One per line: coverage, factor key, dimension and amount, with blanks meaning “any”. A factor matching the exact coverage beats a blank-coverage factor.
Routine Steps
The arithmetic, step by step: set, lookup, multiply, add, subtract, min, max and round.
Taxes, Surcharges and Fees
Percent or flat, by state, totalled beside the premium and never inside it.
Publish Makes It Immutable
From publishing, the book cannot change. A correction is a new book with its own effective date; retiring a book stops it governing new ratings and keeps its content as a record.
The reproducibility test
Questions a rate filing review will ask
Each answer comes from a record the platform keeps, not from somebody’s memory of the spreadsheet.
Whose Tables Are These?
Yours — we ship no rates; bureau content is loaded under your own licence
Which Book Governed This Policy?
The published book matching state and type, effective on or before inception
Can A Premium Be Reproduced?
The rating run keeps the full step-by-step trace
What Changed The Rate?
A new published book with its own effective date — the old one is preserved
Can We Preview Without Stamping?
Yes — Preview Rate runs without stamping; Rate stamps
Where we are honest
What rating does not do
The engine executes your book. It does not decide what your book should say.
No Rates Shipped
The platform ships no rates. A product with no published rate book for a state is named on the reconciliation line.
Bureau Content Needs Your Licence
A bureau package with no licence reference is refused. A loaded version is never edited; a correction is a new version.
Switched On After Counsel Review
Rating and billing are enabled for an organization under a regulatory-counsel review, by Waypoint.
Read next
Bring a premium you had to justify
Load a small version of the book behind it, rate the policy, and read the trace step by step — then publish a correction and watch the old book stay exactly as it was.