JERSEY CITY, N.J., March 21, 2005 — Specialty Underwriters' Alliance, Inc. (SUA) has selected ISO Rating Service to automate and extend ISO-based rating information to its partner agents and managing general agents.
SUA's insurance subsidiary, SUA Insurance Company, will use the advisory prospective loss costs and manual rules of ISO Rating Service across its distribution chain to support all commercial lines of business in all states. SUA has also selected and deployed SunGard Sherwood Systems' FrontTier solution for its policy administration needs, including integration with ISO Rating Service.
ISO Rating Service will enable SUA to develop and distribute specialty programs that use the base ISO commercial lines content. ISO's solution supports all aspects of product-specific customizations, deviations and forms assignments, while allowing SUA and its partner agents to more efficiently rate, quote and issue policies in real time over the Internet. ISO Rating Service also provides SUA and its partner organizations an automated solution and tools to tailor program-business rating and underwriting for their market needs.
SunGard delivers a policy, billing and claims administration solution, including implementation with ISO Rating Service. Together with SunGard's ProCede and EAS products for reinsurance and general ledger, SUA will use FrontTier to automate its commercial lines submissions, quotations, policies, billing, accounting, workflow, claims and reports.
"ISO Rating Service gives us a ready-to-deploy solution and a powerful customization tool. Together with FrontTier, we are able to handle complex processing needs, manage our rates and help ensure end-to-end policy administration," said Courtney C. Smith, president and chief executive of Specialty Underwriters' Alliance, Inc. "The combination also helps us solidify our go-to-market and service goals and differentiate our programs from the competition.
"The seamless integration of ISO Rating Service and FrontTier with SUA's rating and policy systems is an important element in SUA's overall IT infrastructure, allowing the company to better control underwriting, policy issuance and claims administration," Smith said.
"SUA's implementation of our solutions helps customers to get the best value for their IT investments," said Gavin Lavelle, president of SunGard Sherwood Systems. "By working with us and our strategic partner ISO, SUA can integrate our solution with other systems in its architecture."
"ISO Rating Service lets SUA connect ISO-based rating/underwriting with FrontTier and other downstream systems for best-of-breed automated sales and service," said Liza Smith, general manager, ISO Rating Service. "Using ISO Rating Service and SunGard, SUA partner agents can promote accurate, consistent commercial lines rating over the web to their retail agents and help reduce the time and expense for rates, quotes and policy service," added Smith.
About Specialty Underwriters' Alliance, Inc.
Specialty Underwriters' Alliance, Inc., through its subsidiary, SUA Insurance Company, a commercial property and casualty insurance company, uses an innovative business model and stresses a "partnership" relationship with key agents knowledgeable in the specialty types of commercial property insurance the company writes. For more information, visit www.suainsurance.com.
About SunGard Sherwood Systems
SunGard Sherwood Systems is a global provider of technology solutions to the insurance industry and the U.K. public sector. It delivers end-to-end solutions covering the life, health and pensions/annuities, property and casualty, and reinsurance sectors. SunGard Sherwood Systems works with SunGard Insurance Systems to support more than 2,000 insurance clients. SunGard Sherwood Systems has worked with the U.K. government and public sector for over 15 years developing and maintaining mission-critical systems. Its services and solutions are ISO 9001/2000 compliant, and it has been a U.K. S-Cat approved supplier since 1999. Visit SunGard Sherwood Systems at www.sungard.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.
Trademark Information: SunGard, the SunGard logo EAS, FrontTier and ProCede are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.