What is raterSpot?

raterSpot is an innovative, broker-focused rating platform that simplifies access to multiple insurance markets, with a particular emphasis on contractor's general liability. It operates on a 'single-entry, multiple-quote' model, akin to travel aggregators, where agents enter client data once to receive quotes from numerous carriers. Its unique technology uses a 'friendly robot' (an intelligent API layer) to interact directly with carriers' existing rating engines or web services, eliminating the need for costly carrier-side development or integration. This approach provides agents with broad market access while minimizing technical barriers for insurance companies.

Who it's for:

This tool is ideal for retail insurance agents and brokers who place contractor and commercial general liability business. It is especially valuable for those seeking efficient market access without being limited to a small panel of carriers, and for MGAs/carriers looking to expand distribution with minimal IT investment.

Our verdict:

raterSpot offers a clever and efficient marketplace model for commercial lines quoting. Its agent-centric design and carrier-friendly integration approach solve a key pain point in distribution, making it a highly attractive solution for brokers specializing in contractor insurance.