Comparative Raters Any Good?

Discussion in 'General Insurance Agent Discussions' started by Gaffney Insurance, Jul 26, 2016.

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  1. Gaffney Insurance
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    Gaffney Insurance Expert

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    Has anyone had any luck with any comparative rates? Previously our agency used one but it did not seem worth the cost. We have around 10 companies but quickly growing and branching into new areas. We are a small office so we would want something relatively cheap but would still make sense to invest in the rater.

    If anyone could let me know if their experience with different companies I would appreciate it.
     
  2. ABAInsurance
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    ABAInsurance Super Genius

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    Our agency has recently started using EZ Lynx which is working well for us.
     
  3. Gaffney Insurance
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    Gaffney Insurance Expert

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    Do you know what the monthly cost is?
     
  4. biaomaha
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    biaomaha Expert

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    I use EzLynx also and it works just fine, I like the management system the best. The problem lately is companies give a good rate and you go in to verify everything and re rate and large changes happen.

    Nothing wrong with giving a good rate to get agents to bite but verify before you send any quotes out IMO.
     
  5. indienoise
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    indienoise Guru

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    Make sure you ask agents in your state what they use. Just as you have carriers who only do business in your region or state, you'll find comparative rating software that does much the same. If you use much in the way of regional carriers, you might find the big names like EZLynx can't help you much. You will need to figure what features you can/can't live without, and make sure you can also get support for the carriers you use.
    There was no perfect solution for me, so I'm actually using two raters. One for nonstandard auto, another for standard/preferred and package business.
     
  6. Lopezshow
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    Lopezshow Expert

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    I just switched from FSC to ITC Turbo Rater and saved 100$ monthly plus there are extras I get from the ITC product I didn't get from FSC. I am from California so I don't know what state you are from.

    Ask around what is everyone using or ask your carriers who they are compatible with then take it from there.
     

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