JERSEY CITY, N.J., January 22, 2008 — ISO has signed a licensing agreement to provide Workers' Compensation Information Services (WCIS) to SPARTA Insurance Company, a provider of customized unbundled program solutions.
Under the agreement, ISO will collect and record all workers' compensation premium and loss information from SPARTA Insurance. ISO will develop and compile corresponding unit statistical, policy, and aggregate financial reports from the premium and loss information and submit that information to regulatory agencies on SPARTA’s behalf.
“ISO’s WCIS provides customers with an efficient and economical means to manage resources so that they can focus on developing their business,” said Art Cadorine, vice president, Information Acquisition, Development, and Service at ISO.
“SPARTA selected the ISO service based on ISO’s expertise, strong relationships with data collection organizations, web-based monitoring, and commitment to customer satisfaction,” said Enrico Ferrante, senior vice president of Business Operations at SPARTA Insurance Company. “As a start-up organization, we are always looking for ways to promote efficiency and productivity through the use of technology so we can focus on acquisition and servicing of new business,” added Ferrante.
About SPARTA Insurance
Headquartered in Hartford, Conn., SPARTA is an acronym for Specialty Program and Risk Transfer Alternatives. The company operates in two niche property and casualty insurance segments: Alternative Risk Transfer (ART) programs providing program-level risk sharing through captive reinsurance and Specialty programs, in which the risk is fully retained by SPARTA. All insurance coverages are issued through SPARTA Insurance Company (rated A-/Excellent by A.M. Best) on a fully admitted basis. For more information, visit www.spartainsurance.com.
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets.