Commercial Package Policy Rate-Quotes Now Available Through AscendantOne

AscendantOne's browser-based rating, underwriting and policy-administration platform leverages ISO commercial lines policy manuals for fast, flexible CPP delivery

NASHUA, N.H., June 4, 2003 — AscendantOne®, Inc., a unit of ISO, now delivers rating, quoting and policy-administration support for Commercial Package Policies(CPP) through its browser-based rating, issuance and policy-management system. The CPP offering leverages the entire contents of the ISO-AscendantOne commercial lines policy build-outs.

AscendantOne's CPP delivery parallels ISO manuals and takes full advantage of AscendantOne's base/exception rate-management methodology to provide efficiencies to customers. Development and maintenance of coverages are performed only once at the monoline level. Resulting monoline revisions are automatically available to package policies. Package modification factors are added to update premiums, coverage forms and pricing methodologies according to monoline rules and standards. AscendantOne can link coverages to construct packages that include non-ISO and specialty lines, as well as customize individual coverage combinations.

"AscendantOne's CPP product delivers strong business values to insurers," said Jonathan Kaplan, vice president of product development, AscendantOne. These values, said Kaplan, include:

  • Control and Flexibility. Carriers determine lines/states packaging, user access to products and package attributes — for example, the application of package modification factors to company-specific coverage part.
  • Speed to Market. Insurers can quickly expand market opportunities by leveraging ISO-validated monoline programs as coverage parts within a package policy and by reusing content from our commercial lines inventory.
  • Improved Maintenance. Carriers can consistently manage package offerings using AscendantOne's electronic rate books that externally define the company's policy management rules and guidelines.
  • Ease of Use. Once users are familiar with monoline workflows, their skills are transferable when the line of business is used as a coverage part within a CPP policy.
  • Maintenance by Business Staff. Line-of-business experts and knowledge workers — not programmers — can add and maintain company-specific rules, rates, workflows, underwriting rules and user interfaces.

Insurers can deploy and customize AscendantOne's Solution Suite of rate-quote-policy administration, underwriting and account-management components for either monoline or package policies. The Solution Suite seamlessly integrates insurers' existing IT infrastructures and offers turnkey commercial insurance programs utilizing current, ISO-validated loss costs. The AscendantOne property/casualty system efficiently incorporates ISO's rules, loss costs and policy forms information, significantly increasing the ease and speed of revising insurers' programs with current ISO information.

The ISO-AscendantOne collaborative development and validation process to create base ISO programs for the AscendantOne platform directly involves ISO actuarial, line operations and AscendantOne insurance-technology experts. Together, ISO and AscendantOne deliver an industry first — web-enabled pricing, underwriting,quoting and policy management powered by timely ISO information delivered via secure, easy-to-use,browser-based interfaces.

AscendantOne's property/casualty Solution Suite can also support non-ISO programs and all personal lines of business, including farm, homeowners, personal automobile, personal inland marine and personal umbrella.

About AscendantOne
AscendantOne, a unit of ISO based in Nashua, N.H., features the Solution Suite — comprehensive, browser-based property/casualty rate-quote, underwriting, policy and account-management capabilities powered by ISO's manual rules, advisory loss costs and forms. Our scalable, XML-driven solutions complement existing IT infrastructures, delivering new network-based economic value to insurers. With distinctive and leverage-able business methodologies, the Solution Suite facilitates efficient pricing and policy service for all commercial and personal lines. AscendantOne's best-of-breed web-services architecture enables highly collaborative and cost-effective new-business-to-renewal workflows — anytime, anywhere and for any property/casualty distributor or demand-chain participant. For more information, see www.AscendantOne.com.

About ISO
ISO is a leading 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 data, analytical and decision-support products; consulting; data processing; and technical, statistical and actuarial services. ISO field services include on-site rating and underwriting services and the evaluation of community loss-mitigation efforts. ISO's products help customers with sales and prospecting, underwriting, rating and quoting, customer management, policy administration, product development, claims administration and fraud detection. ISO's AIR Worldwide subsidiary provides technologies to assess and manage natural and man-made extreme-event risk. Through its ISO Claims Services, Inc. (iiX unit) and Intellicorp subsidiaries, ISO provides motor vehicle reports and criminal-records information and through its AscendantOne unit delivers policy-management and rating solutions. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.

All trademarks appearing in this news release are the property of their respective owners.

Release: Immediate

Contacts:
Giuseppe Barone / Erica Helton
MWW Group (for ISO)
201-507-9500
gbarone@mww.com / ehelton@mww.com

Massood Abolfazli
603-546-2432
massood@AscendantOne.com

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