Insurance Services Office Inc. has acquired IMR Corp., a leading provider of marketing information, consulting and strategic analyses to insurers, risk managers, brokers and large insurance agents. IMR provides customers with an array of products and services – as complete packages or as discrete components – to better analyze risks in potential new markets or new lines of business. The products may also be used to evaluate or benchmark insurers’ current book of business.
“IMR’s products complement ISO’s market and risk-analysis products and will provide our customers with complete business solutions,” said Frank J. Coyne, ISO’s president. “IMR’s extensive experience in strategic insurance analysis and its customer roster significantly boost ISO’s capability to deliver market research services to property/casualty insurers,” Coyne added.
IMR’s extensive information database on 11 lines of insurance in finer geographical detail with predictive modeling will be added to ISO’s existing menu of market-research information products, including ISO Scoreboard and ISO Pinpoint. ISO Scoreboard is a market-segment analysis tool that allows insurers to compare the economic, demographic and insurance experience of a variety of business segments and is based on past loss experience.
ISO Pinpoint provides listings of commercial accounts within specific business and geographical areas with specific business-insurance information. IMR’s core products include the Market Profiler and Premium Prospects (premium enhanced sales leads). Market Profiler provides historical and projected premium and loss statistics across 11 lines of insurance, market-sensitive information from government and private industry sources, and proprietary models for estimating the performance of more than 900 industries by geography and Standard Industrial Classification codes.
ISO’s actuarial expertise and database of detailed premium and loss information will be used to enhance these models. Premium Prospects provides detailed sales leads for business entities within specific SIC codes and locations, including premium estimates for a given industry and size of business.
Was this article valuable?
Here are more articles you may enjoy.