Algorithms and Other Enhancements Take the Struggle out of AutomatingBy Mark Sheehan | January 30, 2013
We've posted many times about the complexity of automating insurance rating: how it's time-consuming, error-prone, and diverts resources you could be using to focus on your own deviations. And we've posted about our solutions to help: ISO Rating Service® and ISO Electronic Rating Content.
But did you know how far in advance we now deliver those products?
Did you know we've enhanced the algorithms offered with the products?
Did you know we're automating the Release Notes in Microsoft Word and XML?
Did you know we've expanded our partner directory, giving you increased options for working with the vendor of your choice while allowing you to use the products?
Based on your needs, we've made significant enhancements to our rating products. Last year, for example, we introduced newly formatted algorithm files that accompany both ISO Rating Service® and ISO Electronic Rating Content. The enhancement provided the rating data and rules for acting upon that data in formats you can upload into your policy administration systems.
The algorithms provide implementation-level details for premium calculations, policy forms, attachment logic, stat code assignment, and business edits. That level of detail and interpretation of the rules through the new algorithms significantly improves ease of use.
Since introducing the algorithms, we've made many other important upgrades. We'll be holding a web seminar on February 4, 2013, where you can explore the scope and structure of ISO rating solutions, the algorithms, and other enhancements. From the presentation, you'll get a good sense of how the products can help both your business operations — and your bottom line.
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