Rater

Calculate amount of premium to be charged for various types of insurance.

What does a Rater do?

Calculates amount of premium to be charged for various types of insurance, using rate book, calculator, and adding machine: Selects premium rate based on information in case record folder relating to type and amount of policy based on standard risk factors, such as use and age of automobile, location and value of property, or age of applicant. Adds premium rates of basic policy and endorsements to compute total annual premium. Records rates on abstract sheet, from which policies will be typed. May calculate commissions.