JERSEY CITY, N.J., March 14, 2005 — Maine Mutual Group (MMG) has licensed ISO Rating Service for its commercial and personal auto and homeowners insurance lines of business in New Hampshire, Vermont and Maine.
MMG will integrate its existing front- and back-end systems, both developed in-house, with ISO Rating Service. The company serves customers through an independent agency distribution channel.
"While our focus is on personal lines, we're in the midst of a significant expansion of our commercial lines of business as part of an overall product diversification and growth strategy," said Steve Chandler, MMG's vice president and personal lines manager. "Initially, we'll implement commercial auto, giving us a head start with integrating ISO Rating Service into our information technology infrastructure. This should set the stage for an efficient personal lines implementation as well," Chandler added.
"ISO Rating Service supports our business goals with its advanced technology and ISO-interpreted content. The reliability of ISO programs, including tools to manage ongoing updates, will be a considerable boost to our productivity and efficiency," Chandler stated.
"The technology underlying ISO Rating Service ties in very well with our automation strategy," said Stacy Shaw, MMG's information systems manager. "The rating solution from ISO is compatible with our advanced network architecture, imaging facilities and XML-based policy download products for agents. By integrating ISO Rating Service technology and content, we can get products to market rapidly and streamline the delivery of rating information to our agents."
Neil Spector, vice president of sales and marketing–ISO Rating Service, said, "We're delighted that Maine Mutual Group has chosen our rating solution. What differentiates ISO Rating Service from other vendors' products is the flexibility, choice and speed-to-market benefits we offer insurers. ISO Rating Service supports countrywide, state and company structures or exceptions. Carriers can adopt our base programs or deviate to customize and maintain their own rating configurations to meet business and market needs."
About Maine Mutual
Maine Mutual Group, founded in 1897, writes personal and commercial lines in Maine, New Hampshire and Vermont. The company has over 75,000 policyholders serviced in partnership with 125 independent agencies. Its business model is driven by strong commitments to the independent agency system, technology and exceptional customer service. For more information, visit www.mainemutual.com.
ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Professionals use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO's services help customers protect people, property and financial assets.