COLUMBIA, S. C., Feb. 11, 2002 — ISO is electronically connecting its Claims Outcome AdvisorTM (COATM), the leading bodily injury claims management system, with ISO ClaimSearch®, the property/casualty industry's most comprehensive all-claims database.
"Bodily injury claims reported to ISO ClaimSearch will be available in COA without redundant entry, saving time for and increasing the accuracy of claims professionals," said Donna Crapps, ISO's COA development manager.
Future connection features include direct links to ISO ClaimSearch for comprehensive investigation of bodily injury claims.
"Every business must do more with less today," said Lee Fogle, ISO vice president. "We're helping our clients meet this challenge by providing an electronic interface between two of the most powerful data resources in the insurance industry. At ISO, we're focused on the total cost of our clients' internal processes. Eliminating wasted costs through automation and integration is one way we can help them to work smarter."
ISO's Claims Outcome Advisor is the industry's first object-oriented bodily injury claims management solution to enable the complete management of bodily injury claims portfolios. COA provides information on approximately 13,000 medical conditions and 14,000 occupations to help claims adjusters manage the unique and complex medical, legal and occupational issues presented by bodily-injury claims and to help determine the most favorable and equitable financial outcome.
The ISO ClaimSearch system contains information on 256 million bodily injury (liability), property, and vehicle claims countrywide. Nearly 50 million claim records are added each year. This claims clearinghouse is a cooperative effort of more than 3,500 insurance companies (representing over 90 percent, by premium volume, of the property-casualty industry), self-insureds, and third-party claims administrators.
ISO is the premier source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides statistical, actuarial, underwriting and claims information and analyses; consulting and technical services; policy language; information about specific locations; fraud-identification tools; and data processing. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, and insurance regulators and other government agencies.