Analytical pricing and underwriting information for four major commercial lines of insurance from ISO is now available through AscendantOne®, Inc.’s new policy-management and rating solution, according to company president Charles Boodro.
AscendantOne, a unit of ISO, is now able to deliver loss costs and quoting support for the businessowners program (BOP 2002), commercial automobile, general liability and inland marine. In addition, base loss costs and quoting support for three more lines― crime, property and commercial package policies ― will be available in June.
Each of these base deliveries incorporates at least one state. All states are intended to be available by year-end 2003.
Insurers can deploy and customize AscendantOne’s component-based rate-quote-issuance, underwriting, policy and account-management system seamlessly with their existing IT infrastructure and quickly offer turnkey commercial insurance programs utilizing current, ISO-validated loss-costs data. The AscendantOne property/casualty solution incorporates ISO’s rules and loss costs directly into insurers’ rating and policy systems.
AscendantOne’s property/casualty Solution Suite is also available for non-ISO personal lines of business, including farm, homeowners, personal automobile, personal inland marine and personal umbrella.
DesignerFocus™, a tool for business users, enables AscendantOne and ISO staff, as well as business users at insurance companies, to build and customize insurance programs more cost effectively. The browser-based DesignerFocus tool also enables efficient rating and underwriting maintenance and modifications for any property/casualty insurance program or line of business.
“ISO-AscendantOne solutions provide insurers with a fast and accurate methodology to build company-specific insurance programs and easily analyze, manage and implement ISO program revisions,” Jonathan Kaplan, vice president of product development, AscendantOne, noted. “Our property/casualty Solution Suite features a universal, XML-driven, web services-ready rating engine that insurers can deploy to manage any ISO line or run rating, underwriting and quoting for non-ISO lines of business and independent insurer programs,” Kaplan added.
RateFocus™ and PolicyFocus™ are key components of AscendantOne’s property/casualty Solution Suite for insurers. In conjunction with DesignerFocus, these rating, underwriting and policy-administration components are designed for insurance-business professionals, not programmers, so they can calculate, develop and edit rates and rules, as well as modify existing ISO insurance programs to match company-defined preferences and rating methodologies.
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