What does Rate Flow orchestrate?

Rate Flow orchestrates the premium calculation for a policy. In Guidewire PolicyCenter, Rate Flow is specifically designed to manage and automate the processes involved in determining the appropriate premium that a customer should be charged for their insurance policy. This involves various factors, such as risk evaluation and underwriting standards, but primarily focuses on the actual calculation of the premium amount based on set rates and rules.

By facilitating this critical calculation, Rate Flow ensures that the premium is accurately derived from all relevant data points, which may include information about the insured entity, coverage types, and available discounts. This automation not only streamlines the process but also enhances the accuracy and consistency of premium calculations, leading to improved customer satisfaction and operational efficiency.