Homeowners By-Peril Program (HOBP)

Homeowners By-Peril Program (HOBP)

To avoid adverse selection, insurers need to approach homeowners rating with a refined approach to apply the ‘right rate for each risk.’  The AAIS countrywide rating plan looks at perils separately and accurately down to the zip code level. We’ve added a number of characteristics and attributes that provide a more refined and targeted rating to avoid adverse selection and help Members compete in today’s marketplace.

AAIS is a leader in design and content with our rating plan supported by forms and endorsements that are beyond industry standards.

The AAIS Homeowners By-Peril Program (HOBP) provides:

  • A comprehensive set of industry-leading forms and endorsements.
  • Complete manual rules, factors, and loss costs.
  • Compliance with state laws, rules, and regulations.
  • Support from AAIS and industry rating engines.
  • Product Specifications that can be used by future PAS partners or insurers with an in-house PAS.

Hi-Tech Delivery

  • AAIS supports its HOBP program with our own rating engine, and is supported by policy administration systems such as IWS Britecore, IMT Computer Services, and Value Momentum.
  • Product Specifications can be used by an insurer’s policy administration systems or third-party partners.
  • AAIS Homeowners By-Peril Rating Engine.

Dedicated Service

  • AAIS provides onboarding support as a roadmap for successful conversion to the AAIS program, while accounting the Member’s current system. Onboarding is not limited to forms, endorsement, manual rules and factors, and loss costs. It also includes technology support in the form of product specifications and implementation support with a third-party PAS provider.
  • AAIS will complete a ‘re-rate’ of the insurer’s current book of business, which will shed light on how individual policies will be impacted. With this assessment, AAIS can smooth out a carrier’s transition with minimum decreases and maximum increases.
  • AAIS provides access to ‘heat maps’ that show loss costs at the ZIP Code level for each peril in every state

For more information…

Contact an AAIS Personal Lines Advisor for more information on how to leverage AAIS’s custom solutions to address your particular needs.