Finally! Innovative New Approaches to Managing ISO Rates and Rules

Karen Furtado, Partner, SMA Strategy Meets Action recently published an article discussing the new approaches available today to manage ISO rates and rules beyond the traditional system of record. The article reviews the benefits of  ISO Electronic Rating Content™ and how state-of-the-art policy administration systems can and should do more than just quote, issue, and manage policy records.

A few highlights from the article include:

• The primary business needs – growth, reducing costs while increasing productivity, competing with more appealing products, better customer service, managing loss exposure and expenses, and improving profitability – are taking on a new, heightened sense of urgency
• Insurers are focused on strategic initiatives that address product mix, growth and profit.
• There is a new ISO Electronic Rating content offering that has real transformational possibilities
• Technology that preserves interpretations electronically rather than requiring a rekeying effort will help insurers stay ahead of the game
• Insurers making decisions about core policy administration systems should make certain that the management and integration of rates and rules is one of their top evaluation criteria.

Read more of the article.

To learn how Camilion, as the first policy administration system vendor to implement  ISO Electronic Rating Content, can help you transform the way you do business today, download the SMA Perspective: Capitalizing on ISO Electronic Rating Content-Achieving Growth and Reducing Cost.

'Insurers making decisions about core policy administration systems should make certain that the management and integration of rates and rules is one of their top evaluation criteria.'