According to a recent Bain's report1 "Insurers feel pressure from investors and competitors to increase efficiency and effectiveness in processes and delivery."
Keeping ISO rating data current is a complex and labor-intensive process for many insurance carriers. To react quickly and appropriately to market opportunities with ISO rating content updates, as well as regulatory changes, carriers need to look for solutions that streamline this process - enhancing their go-to-market strategies.
If you are actively seeking to modernize and integrate commercial lines rating with your existing core systems and extend the ability to digitally access rate-quote-bind capabilities for agents and brokers, look to the iFoundryTM Rating Engine. iFoundry is a modern rating engine that fully leverages the digital delivery of ISO's rating content via the ISO Electronic Rating Content (ERC) product. With ISO ERC and iFoundry, insurers are able to lower costs associated with rating operations by significantly reducing the time and effort needed to analyze and implement ISO updates to advisory loss costs and rules. Together, the ValueMomentum and ISO ERC offerings help companies automate the management of ISO rate plans along with their company deviations.
View this on-demand webinar to learn how::
1Bain’s GLOBAL DIGITAL INSURANCE BENCHMARKING REPORT 2015