NEW YORK, April 20, 2000 — Workers' compensation loss ratio information is now available on ISO Scoreboard™, Insurance Services Office, Inc.'s (ISO) market-research information product for insurers.
ISO Scoreboard provides information that helps insurers to target new markets or to validate their current market penetration.
The workers' compensation loss information included in ISO Scoreboard, available on CD-ROM, is based on the most recent five-year data for each state obtained by ISO under license from the National Council on Compensation Insurance (NCCI) and several independent bureau states. ISO is currently working to add workers' compensation loss information from additional independent bureau states.
ISO Scoreboard uses actual loss experience, instead of modeled data. Workers' compensation information is the new addition to the previously available lines of businesses, General Liability, Commercial Fire & Allied Lines and Businessowners. The loss information for all lines is ranked by loss ratio. These loss rankings allow users to use their own judgment and quickly identify target industries.
ISO Scoreboard information is available by Standard Industrial Classification (SIC) codes which are commonly used to identify and target segments within an industry.
"With workers' compensation loss experience available on ISO Scoreboard, insurers now have a more comprehensive and powerful tool to research new market segments," said James Surrago, ISO's vice president – Data Management and Information Services. "Insurers can make more informed decisions with a truly integrated, single-source information resource."
In addition to leveraging data in ISO's aggregated statistical database, ISO Scoreboard gives insurance market researchers a variety of economic and demographic information for virtually all industries. The ISO Scoreboard information package also includes the number and sizes of establishments in an industry, total number of employees, and payroll and growth data calculated from these measures, industry sales, historical and projected sales growth. ISO Scoreboard's information, available by state and countrywide, facilitates market-segment decision making.