AGOURA HILLS, Calif., and COLLEGE STATION, Tex., Sept. 18, 2006 — FSC Insurance Solutions, a unit of Fiserv, Inc. (NASDAQ: FISV), and Insurance Information Exchange (iiX), a unit of ISO, announced the release of integrated report-ordering functionality through FSC Rater RT™, FSC’s personal lines comparative insurance rating solution. The new component allows agents to obtain essential underwriting information, including credit scoring, motor vehicle reports, and auto and property loss history reports, from ISO’s A-PLUS™ database from within a single entry point in FSC’s rating platform.
“Access to underwriting information is a critical component in delivering an accurate automobile or homeowners insurance rate,” said Paul Areida, chief executive officer of FSC Insurance Solutions. “It is extremely satisfying to be in a position where we can offer this feature to our mutual clients.”
“iiX is excited about the opportunities FSC Insurance Solutions brings to the table,” said Sean Quillivan, iiX general manager. “Offering the added value of rating and underwriting report integration will enhance our customers’ ability to service their clients more efficiently.”
Report ordering functionality from iiX has already been released in five Midwestern states through FSC Insurance Solutions’ additional comparative rating product, MI-Rater. The development effort has now expanded to agencies subscribing to FSC Rater RT in Connecticut and New York, with additional states to follow.
Separately, FSC Insurance Solutions has licensed ISO’s VINMASTER®–LPMP, which covers liability and personal injury protection (PIP)/medical payments, for use in its comparative rater products throughout the United States. ISO develops personal auto liability and PIP/medical payments rating symbols based on a review of actual vehicle make and model loss experience. VINMASTER–LPMP provides the rating symbols associated with individual vehicles, enabling insurers and agents to rate liability and PIP/medical payments coverages more accurately.
“Our customers will be better equipped to write coverage with critical information from ISO’s VINMASTER product,” said Areida. “ISO’s expertise in the personal auto arena will enable us to deliver to our agents accurate symbol information concurrently with our participating insurers.”
“We’re delighted that FSC Insurance Solutions has selected our VINMASTER–LPMP solution,” said Sanders Cathcart, ISO assistant vice president and actuary for the actuarial and personal lines division. “Efficient access to ISO’s liability and PIP/medical payments symbols will help FSC’s clients to maintain a competitive edge using state-of-the-art rating and underwriting techniques.”
Insurance Information Exchange (iiX), based in College Station, Texas, is a premier provider of motor vehicle records to insurance professionals and employers. An ISO business, iiX also offers an assortment of underwriting reports to the insurance industry, as well as an array of employment screening services to the employment marketplace. Reports are available to customers through a variety of methods, including ExpressNet, an easy-to-use web-based solution. For more information, visit www.iix.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. Clients use ISO’s databases and services to classify and evaluate a variety of risks and detect potential fraud. In the United States and around the world, ISO’s services help customers protect people, property and financial assets.
About FSC Insurance Solutions
FSC Insurance Solutions, headquartered in Agoura Hills, California, is a full-service provider of personal lines rating solutions for the insurance industry. As a leader in rating and insurance technology solutions, FSC provides systems to more than 6,500 customers nationwide, including independent agents, brokers, insurance companies and managing general agencies. FSC can be found on the Internet at www.fscrater.com.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management systems and services to the financial and health benefits industries. Leading services include transaction processing, outsourcing, business process outsourcing, software and systems solutions. The company serves more than 17,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2005 and 2004 FinTech 100 surveys. Fiserv Health provides health plan management, pharmacy benefits management and BPO services to the managed care market and self-funded commercial and government employers and health plans. Headquartered in Brookfield, Wisconsin, Fiserv reported more than $4 billion in total revenue for 2005. For more information, please visit www.fiserv.com.
Bryan Parker (FSC Insurance Solutions)