Insurance Services Office, Inc. (ISO) and HNC Insurance Solutions, a division of HNC Software (HNC), formed a strategic alliance to provide insurers with a comprehensive workers’ compensation data-reporting solution.
The alliance with HNC Insurance Solutions enables ISO to further expand the scope of its Workers Compensation Data Reporting Service for insurance companies, self-insureds and third-party administrators. The ISO service compiles premium and loss transaction reports that worker” compensation carriers are required to submit to state insurance regulators.
ISO’s data-reporting service offerings to workers’ compensation carriers include editing data, converting policy and claims transactions into summary reports and reporting data to the designated statistical agent in each state.
The new alliance also provides ISO with access to HNC Insurance Solutions’ Internet-enabled electronic filing and reporting software–AC-Web(TM) and Trans-Connect(TM)–for submitting injury information to state accident boards over the Internet. The software significantly automates the reporting process, helping ISO customers achieve greater efficiencies in submitting reports to states that accept electronic filings of workers’ compensation information. executive vice president of government relations and data management.
AC-Web allows claims administrators to send first and subsequent reports of injury, and medical-payment information to ISO for submission of state-mandated information to accident boards through the Internet. Trans-Connect, a developer’s toolkit for Electronic Data Interchange (EDI), is used to edit and reformat data from ISO’s internal application formats, so ISO can submit injury and medical-payment reports to state accident boards over the Internet.
ISO and HNC Insurance Solutions also will work together to expand the acceptance of electronic data reporting in those states that currently use paper-based systems for receiving medical payment and injury information from insurers.
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