JERSEY CITY, NJ, and OAKLAND, CA, March 23, 2006 — ISO and InsureWorx have announced an alliance to integrate ISO's Workers Compensation Information Services (WCIS) solution modules with the policy and claims administration software applications from InsureWorx.
Under the agreement, customers of ISO's workers' compensation products and the InsureWorx PowerComp® offering will be able to access and exchange policy and claims data seamlessly between the two companies' applications. This combination of InsureWorx's workflow processing software with ISO's data management and analytic tools will provide workers' compensation carriers with a more comprehensive end-to-end solution.
ISO's WCIS offers an array of workers' compensation data management solutions to insurers, including transactional data reporting, premium and loss information corresponding to unit statistical report requirements, proof of coverage, financial data calls, management reporting system, and first and subsequent reports of injury.
"We are very pleased to have InsureWorx as a strategic ally," said Carole J. Banfield, ISO executive vice president of information services. "By joining forces with InsureWorx, the advantages of ISO's Workers Compensation Information Services will reach more customers. InsureWorx's workers' compensation customers can now benefit from ISO's single-flow data- stream management of workers' comp policy and claim information for regulatory review, strategic analysis or decision support."
"By teaming up with ISO to integrate our respective products, we look forward to offering even greater value to our workers' compensation clients," noted Gary Sherne, InsureWorx President and CEO. "ISO has been a great company to work with, and we look forward to continuing to deliver on our shared goal of providing well-integrated end-to-end insurance processing solutions."
InsureWorx, located in the San Francisco Bay Area (Oakland), California, and Denver, Colorado, is a leading provider of browser-based software solutions to the insurance industry. The flagship PowerComp® product line includes core processing solutions for Workers' Compensation and other Commercial Property & Casualty and Risk Administration lines of business, covering full enterprise claims, billing, underwriting and policy administration functionality. For additional information on InsureWorx, please visit www.insureworx.com, or call 800.785.4526.
Note: InsureWorx and PowerComp are trademarks of InsureWorx, Inc.
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. For more information, please visit www.verisk.com/iso.
Susan Douglas (InsureWorx)