ISO Electronic Rating Content =
A new technology combination that will rock your world!
The perfect combination – Your branding and customer facing user interface, Solartis quote and policy life cycle services, and digital insurance products that incorporate ISO Electronic Rating Content.
You control the design and development of your customer facing user interface and eligibility rules. You leverage proven Solartis quote and policy life cycle services to transact your digitally rendered insurance products that incorporate ISO Electronic Rating Content (loss costs, algorithms, rating and form rules).
Leverage Solartis quote and policy lifecycle services through standardized APIs in a secure, redundant, enterprise-level cloud environment. These services span the entire quote and policy lifecycle process from initial rating and quoting to payment, policy issuance and ongoing servicing.
+ ISO ELECTRONIC RATING CONTENT
Realize costs savings and accelerate time to market by leveraging ISO loss costs, rating and forms rules and version updates already integrated into the Solartis product management module.
Consider the following:
are issued each week on average
on average are involved in analyzing an ISO update
70+ Work Days
average time spent manually processing an ISO update
of the time spent analyzing and interpreting the change
of the time spent implementing system changes
As pressure to reduce expenses and improve underwriting profitability mounts, the limitations of manual processes are more apparent than ever. Some insurers are seeing dramatic improvements in their efficiency by automating their processes.
In fact, by using ISO content in electronic format, insurers have realized on average:
A 39% reduction
in overall work hours
A 58% decrease
in work time for IT modifications
A 35% decrease
in overall cost
A 7-month improvement
in being current with ISO
The reduced work-time benefit of using ISO content in electronic format enables insurers to implement critical coverage and rule updates more quickly and easily. As ISO makes policy language updates in direct response to legislative or regulatory changes, insurers benefit greatly from speedy implementation: they may be first to market with new offerings; and they can quickly make updates that relate to coverage intent, which may lead to fewer claim implications.