ISO Announces Three Major Orders for New ISO Liability Advisor Solution - Just 6 Months After Launch

  • Follows orders from a direct-to-consumer auto insurer, a top ten U.S. insurer and a major national carrier based on the East Coast
  • One of the first solutions to address key comparative liability requirements within the insurance industry

Columbia, S.C., May 25, 2006 — ISO has announced three major U.S. insurers are using its new ISO Liability Advisor™ solution, following its launch late last year.  One of the top ten U.S. insurers, a direct-to-consumer auto insurer and a major East Coast national carrier  have all deployed the solution to gain a crucial breakdown and an accurate prediction of comparative liability in auto claims processing. To ensure the fairest outcome for all parties involved, ISO Liability Advisor will address the need for better visibility and manageability of claims where liability is uncertain or contested.

ISO Liability Advisor is a powerful information solution that helps claims handlers better evaluate comparative liability claims. It will help these organizations report, track and manage their comparative liability claims — an issue that is left almost completely unchecked in today’s industry. Enhanced data gathering, the use of graphical scene diagrams and a rules-based calculator combine to produce an accurate range for comparative liability percentages.

“Implementing ISO Liability Advisor is the next stage in the development of our insurance business,” commented one of the new users. “We aim to drive our operation forward with leading-edge technology and ISO Liability Advisor will add value to other systems and solutions that we already have in place. ISO Liability Advisor will enhance the way we look at comparative liability, which means we will be able to settle cases more accurately and ensure the fairest possible outcome for customers.”

“We developed ISO Liability Advisor as a next-generation solution for liability assessment after extensive research into customer needs,” commented Lee Fogle, vice president of ISO. “We used insurers’ input to develop and deliver this solution, and now a growing number of medium and large insurers are identifying the significant benefits of this solution. ISO Liability Advisor makes it easy for claims professionals to evaluate complex liability situations and get a better handle on determining liability.

“When you consider that close to 70 percent of all auto accidents involve multiple parties, it is important that insurers track and manage the liability assigned to and assessed on each party to ensure accuracy. Many insurers don’t do this, and that is why we are seeing the growing demand for ISO Liability Advisor just six months after launch late last year. Our solution is making inroads because insurers seek greater efficiency in providing the fairest and most accurate settlements to their clients,” Lee Fogle added.

The ISO Liability Advisor solution is now generally available and fully integrated with its established ISO Claims Outcome Advisor solution™ (COA™). COA helps ensure accuracy and consistency throughout the claims handling process.

About ISO Liability Advisor™
ISO offers ISO Liability Advisor, a powerful tool to help claims professionals better evaluate accident-related comparative liability claims. ISO Liability Advisor features a relational database that helps claims handlers report, manage and track comparative liability claims. 

With ISO Liability Advisor, insurers can:

  • streamline the assessment process
  • settle cases consistently
  • quickly identify more cases involving comparative liability
  • improve accuracy in assessing comparative liability
  • assemble a logical negotiating strategy

ISO Liability Advisor makes it easy to navigate even the toughest comparative-liability cases — consistently, accurately and efficiently. The solution is a knowledge-sharing tool that can help train the newest team members.

Using ISO Liability Advisor, a claims handler can quickly gather and store relevant information, including state laws, accident reports and electronic accident-scene diagrams. With supporting information, the claims staff will be better equipped to attribute the fair percentage of liability to claims and eliminate the all-or-nothing outcomes in claims practices.

About ISO Claims Outcome Advisor™ (COA™)
ISO Claims Outcome Advisor™ (COA™) is the industry’s first personal injury claims management solution that manages the multiple dimensions of organizations’ personal injury claims portfolios. COA understands the severity and recovery implications of over 18,000 injuries, treatments, complications and preexisting conditions and 14,000 occupations and creates for an insurer a historic database of all of its injury claims. COA helps claims handlers, managers and actuaries manage the unique and complex medical, legal and occupational issues presented by personal injury claims and helps ensure appropriate financial arrangements are agreed to and implemented. Claims handlers can manage all aspects of a case from first notice of loss to return-to-work plans, rehabilitation and damages.

About ISO
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 U.S. and around the world, ISO’s services help customers protect people, property and financial assets.

Release: Immediate

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