JERSEY CITY, N.J., March 3, 2004 — Insurance Services Office, Inc.'s (ISO) service to the workers' compensation market has been recognized in a Legends Award presented to ISO Executive Vice President Carole J. Banfield by the American Society of Workers' Comp Professionals (AMCOMP).
Banfield heads ISO's Information Services unit, the division that delivers value-added workers' compensation analytics and decision-support products to help boost insurers' bottom lines. These products provide processing support, database and analytical services, injury and policy reporting, data conversion and proof-of-coverage information.
"I'm honored and gratified by AMCOMP's citation," said Banfield. "ISO's reputation in the primary property/casualty market was established many years ago and is well known throughout the industry. What may not be as well known are our corporation's capabilities in the area of analytic and decision-support solutions for the workers' compensation line of business.
"Each ISO workers' comp service provides insurance companies, self-insureds and third-party administrators the full range of ISO's advanced capability to perform critical, resource-intensive tasks on their behalf," said Banfield.
"Carole Banfield and ISO have been a positive force in the workers' compensation field for many years," said Donald T. DeCarlo, AMCOMP chairman and president. "Their dedication to professional excellence in workers' compensation, especially in the aggregation of data and management of databases, is a benefit to insurers, regulators, risk managers and reinsurers, and other key players in the business."
DeCarlo continued, "This award is presented annually to individuals who distinguish themselves by their achievements in the workers' comp system. Carole's contributions set her apart as a true leader in the workers' comp industry."
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 rating, quoting and policy-administration solutions. Solutions from ISO's QPC subsidiary enable insurers to identify auto premium leakage and recover lost premium. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.