ISO Loss Cost CustomizerSM is a software tool that helps you manage revisions to ISO's advisory prospective loss costs.
With ISO Loss Cost Customizer, you can easily evaluate the effect of an ISO revision on your own book of business and modify the loss costs to suit your company's needs. You get better, faster actuarial and marketing decisions—and streamlined implementation of your rate changes.
To use ISO Loss Cost Customizer, start by importing your own company data—loss costs or rates and premium weights for individual classes. (You can import Excel files, or, if you've adopted the ISO IntegRater format, use those files.) That's the "current" version. (For ease of use, ISO Loss Cost Customizer includes industrywide weights, derived from aggregate data reported to ISO, for the individual classes.)
Now, edit and modify the target version using a wide variety of customization features.
- Edit loss costs
- Compare loss costs and cap — to set minimum and maximum percentage changes for each class and territory
- Compare loss costs and cap with buildback — to offset the effects of caps on the overall statewide change
- Override experience change — to select a different overall change for the entire state or for individual territories or class groups
- Create and apply user-defined factors
- Apply loss cost multipliers to calculate rates
You can also create and apply increased limits factors at a single user-specified limit or at average limits to develop new loss cost versions.