NEW YORK, October 22, 1998 — Insurance Services Office, Inc. (ISO) has expanded its product offering over the World Wide Web by adding a key actuarial product to ISOnet®, ISO's Internet information service for insurance professionals.
The new product, Actuarial Service Electronic Solution (ACESSM), electronically delivers ISO's Actuarial Service circulars to customers' desktops, enabling easy integration of ISO statistics into customized analyses for better decision-making and reporting.
In June, ISO launched ISOnet to offer its core products — ISO circulars, policy forms and Commercial Lines Manual information — to insurers and reinsurers.
"ISOnet provides customers timely access to ISO's Actuarial Service circulars which contain information critical to insurers' analytical and data management functions. ACES delivers circulars in Microsoft Excel spreadsheets through ISOnet, allowing customers, for the first time, to seamlessly blend circulars into their information systems," said Sanders B. Cathcart, ISO's assistant vice president of actuarial information.
"By eliminating keypunching of circular data, ACES helps reduce customer costs, wasted time and data transfer errors, while significantly enhancing productivity. ACES demonstrates ISO's commitment to integrate its products with customers' business processes," he added.
With ACES spreadsheets, customers can access ISO's actuarial data and perform original analyses or easily adapt and extend ISO analyses to manipulate trend, loss development and other insurance information. Further, ACES spreadsheets enable customers to conduct 'what-if' analyses to gain additional insight into ISO calculations. Spreadsheets also allow insurers to run their own data through ISO's formulas and create customized exhibits.
ACES delivers Actuarial Service circular texts in Microsoft Word and exhibits in Excel. Customers can download text files and spreadsheets directly to their computers. They can also archive ACES spreadsheets on their local area networks (LAN) for easier internal distribution of important information.
In addition, ISO's Fast Track data, while still available as a separate product on diskette or tape for an additional fee, is now also provided as part of ACES.