Staying Current with ISO – This is One Trade-Off We Can Cast Aside

Sure we all want to have that extra piece of pie, but who wants to spend an extra 30 minutes on the treadmill working it off?  Life is full of trade-offs like this.

Sure we want to take the current ISO filings, but we can’t afford the resources to interpret and implement them – never mind retrofitting it into that old system of ours – remember the last time we tried to update it?  Good grief – the memories are only starting to fade.  Well, I can’t help you with the extra slice of pie trade-off, but staying current with ISO – this is one trade-off we can cast aside.

ISO issues more than 75 circulars per week.  We do so to keep pace with the ever changing world of insurance.  There are new regulations, new court rulings, and a constant flow of more and more premium and loss data to analyze. Insurers understand the situation, yet some are overwhelmed by the volume and pace and often have asked us how we can help.

In response ISO is now offering a new licensing option, ISO Electronic Rating Content. The key value is ISO content — from the source — in automated formats.

What does this mean for you?

Insurers using ISO’s rating solutions no longer have to worry about analyzing and interpreting ISO filings– it is done for you…by ISO.  Just think of the time savings of that alone – plus the comfort in getting the design directly from the source of the filings.  Eliminating the need for manual error prone processes and reducing the risk of error.

But it goes even further.  Since the data is available in electronic format, vendors offering innovative technology solutions like Camilion Solutions now offer insurers the ability to automatically integrate ISO Electronic Rating Content with their policy administration systems or any product dependent systems.

As the first ISO Electronic Rating Content Associate, Camilion now has access to all the data necessary for rating in electronic format.  As well, they receive all the implementation level details for:

• Premium Calculations,
• Forms Attachment Logic,
• Premium Stat Code Assignment (per ISO’s Full Stat Plan), and
• Validation Messages.

Camilion’s ProductAuthority, an innovative product development and management solution that includes a rating solution, insurance product configurator, business rules engine and product management workstation, enables insurers to automatically import ISO Electronic Rating Content into any P&C policy administration system or product dependent system, including Camilion’s Authority Suite® , a modern rules and tools-based policy admin system.  If you want to keep your current policy admin system, but want to reap the benefits of integrated ISO content, ProductAuthority is a less risky solution to a full policy admin replacement.

Hmm…I am feeling so good, I think I will have that extra piece of pie after all!

To find out more, download the free white paper:

Jump Start the Development of Your ISO Based Products: Leverage ISO Electronic Rating Content with Innovative Technologies to Accelerate Speed to Market, Reduce Costs and Capitalize on Market Opportunities

'In response ISO is now offering a new licensing option, ISO Electronic Rating Content. The key value is ISO content — from the source — in automated formats.'