Solartis provides highly configurable quote and policy processing technology that leverages ISO Commercial Lines Electronic Rating Content
FOR RELEASE March 24, 2021
Carol Mowry McKenzie
Vice President, Sales and Marketing
Joyn Insurance, a New York City-based startup that will underwrite small to mid-market commercial insurance, has selected Solartis as their policy administration platform provider. Leveraging the Solartis microservices-based technology as their underlying platform, Joyn can focus their team on implementing their own innovative and data-driven underwriting solution.
Nick Richardson, co-founder and CEO of Solartis commented “Joyn is well positioned to be a major force in the industry with their sophisticated approach to underwriting coupled with a deep understanding of the needs of their brokers and customers. Solartis is delighted to assist Joyn on their new journey by providing our quote and policy processing technology, extensive library of ISO Electronic Rating Content and our insurance Product Management Toolkit to support implementation and maintenance of Joyn’s insurance products.”
Solartis has cracked the code on electronically consuming the ISO Electronic Rating Content into their platform. The Solartis Platform uses this digital rendition of the ISO Commercial Lines Manuals to power premium calculation, form selection, user interface generation and statistical code assignment for commercial insurance lines of business. ISO filings and Circular updates are automatically incorporated into the Solartis product library and ready for selection in the Solartis Product Management Toolkit. Solartis customers can focus on what makes their offerings different and distinctive in the marketplace instead of worrying about maintenance and regulatory compliance of the underlying ISO commercial lines base products.
“As a startup we are uniquely positioned to select the best available solutions to meet the needs of a modern organization,” said Seraina Macia, co-founder and CEO of Joyn. She continued “Solartis fits that bill by helping us to streamline the underwriting process, leverage digital ISO rating content and effectively support our underwriting decisions and data science insights to provide a truly differentiated service to our distribution partners.”
Joyn and Solartis represent a new breed of insurance and technology partnership where complementary technology, data and insurance capabilities combined to form an unbeatable solution for the P&C insurance industry.
Joyn Insurance is a newly formed InsurTech that will be underwriting commercial insurance in the small and middle markets. Anticipating market entry in Spring 2021, Joyn will be powered by technology, data and expertise to deliver a transparent and trusted experience to brokers and customers.
Solartis was founded with a mission to maximize the value of insurance. We do this by simplifying and automating the insurance policy lifecycle. Our microservice-based policy administration platform supports the full policy life cycle process for all P&C personal and commercial lines of business. Our business process outsourcing division supports our customers policy processing operations by delivering cost reductions, robotic process automation and process improvements