Real-world insurance policy pricing models often have 50 to 100 variables such as gender, age, credit score, claim history and more. (Photo: iStock) Real-world insurance policy pricing models often have 50 to 100 variables such as gender, age, credit score, claim history and more. (Photo: iStock)

Speed to market is a high priority for many property and casualty insurers, but creating quote-ready rate tables remains a major roadblock for personal line insurers to realize that priority. This stubborn issue applies to any line of business that has numerous rating variables and coverages. If it takes two years to update rating plans, the underlying rate factors may already be stale by the time the rate plans are used.

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