QuickFillTM Provides Ease of Doing Business, Lower Operational Expenses, and Improved Premium Accuracy
JERSEY CITY, N.J., March 2, 2010 — ISO announces the industry’s first fully integrated automobile and property prefill solution. QuickFillTM delivers any combination of ISO’s 34 automobile and property databases to insurance carriers at the point of quote. Data elements include prior claims and coverage information, registered vehicles, location-specific property characteristics, estimated replacement-cost evaluations, hazard data, and drivers in the household. QuickFill data is available for personal lines automobile and property as well as commercial property.
QuickFill lets carriers and their agents economically acquire more underwriting information at the front end of the quote process, which increases both speed of application and pricing accuracy. Capturing and storing accurate property information at the beginning of the policy life cycle will also improve other insurer functions such as catastrophe risk management.
“QuickFill is all about improving the customer experience. When customers get faster, more accurate rate quotes, they are more likely to buy a new policy and keep it,” said John Cantwell, assistant vice president, Automobile Marketing. “QuickFill also improves policy accuracy (for example, obtaining the right claims history or real-time annual mileage estimates), thereby reducing premium leakage and inaccuracy.”
“ISO’s new integration of auto and property data is a game-changer,” said Howard Waldrop, assistant vice president, Property Marketing. “While ISO and other providers have delivered prefill solutions over the years, the comprehensive integration and flow of the vast amount of information into a single delivery platform opens up exciting new possibilities — especially in the area of cross-selling.”
“QuickFill can support a carrier’s auto quote while concurrently qualifying the homeowners lead,” added Waldrop. QuickFill can append critical decision data such as protection class, distance to coast, and the estimated home replacement cost. “Nothing’s worse for an agent than successfully quoting auto only to find out the homeowners risk doesn’t qualify under the insurer’s underwriting rules. QuickFill ties everything together.”
QuickFill is delivered via ISO Passport®, ISO’s technology platform that responds to more than 20 million carrier and agent transaction requests each year. QuickFill is available in all 50 states and Washington, D.C.
Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud-identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a subsidiary of Verisk Analytics.