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Technology innovations such as telematics, automation, no-code applications, and artificial intelligence (AI) are forcing fast-moving changes throughout the insurance industry. They are also creating opportunities for MGAs, insurers, and others as they experiment with solutions that allow them to be more agile and efficient. The option to leverage automating aspects of insurance through rating as a service (RaaS) solutions are yet another example of this trend.

What is a RaaS solution? 

The “as-a-service” model — software as a service (SaaS) being the most well-known example — is a cloud computing and service delivery model in which various services and resources are provided via cloud infrastructure. The model allows organizations and individuals to access and use services or resources without the need to own and manage the underlying hardware or software infrastructure.

Similarly, RaaS solutions provide insurers and MGAs with the ability to rate insurance policies without having to install or maintain their own rating engine. RaaS solutions typically include the rating rules and forms, as well as the software applications that perform the rating calculations.

Some specific features of RaaS include the following: 

  • As mentioned above, RaaS solutions are, by their very nature, cloud-based solutions. This means they’re hosted on remote servers and accessed over the internet.
  • RaaS solutions are scalable. This means they can be expanded to meet the growing needs of businesses. 
  • RaaS solutions are flexible. Raas solutions can be customized to meet the specific needs of MGAs and insurers. This can help them to differentiate their products and compete more effectively in the market.

Benefits of a RaaS Solution

RaaS helps level the playing field by freeing up MGAs and insurers to focus on other tasks that add more value. So, what are the primary benefits of a RaaS solution? 


RaaS solutions reduce the turnaround time for quotes through the use API-driven connections to rating engines, up-to-date bureau content, and other third-party data. This speed allows insurers to capture more market share and gives them the agility to move to market with a new product if desired. 

This speed and agility also allow small insurers to scale their operations. Instead of having your in-house underwriting team do all the work, you can tap into a large existing data set to make quicker, better underwriting decisions. 


Using RaaS, pricing policies can more accurately reflect the risk and the specific risk appetite of the carrier. Because you have so much data at your fingertips, your underwriting process becomes more efficient. You can also trust it’s more conclusive. Having that confirmed data will help you determine if a business will help reduce your losses.


While many of the benefits described above help internal employees and business operations, it’s always worth considering your customers. With a RaaS solution, applicants can go through the process more swiftly and painlessly since there are no paper submissions to rifle through and the tech-enabled processes and third-party data move things along with little to no manual work. Plus, consumers are starting to expect more seamless digital offerings.  

New Challenges Mean New Opportunities

Changes in the insurance market certainly pose challenges, but they also offer opportunities to benefit from innovative technology solutions. RaaS solutions bring automation, AI, and third-party data to underwriting, enabling swift verification and decision-making. RaaS solution benefits include accelerated quoting, enhanced loss ratios, and an improved user experience. This can help to level the playing field for MGAs and insurers who are looking for new means to be more agile, efficient, and, ultimately, more successful in this rapidly evolving insurance landscape.

Origami Risk recently acquired Dais Technology, a provider of innovative, API-driven products that power RaaS solutions and make it easier for MGAs and insurers to create and run their products. To learn more about the acquisition, visit Visit to learn more about their product lineup and how those work with RaaS solutions. 

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