Faster with ISO: Streamlining insurance workflows with new Filings featureBy Mary DeLaFuente | October 22, 2020
There are many reasons why ISO will issue an insurance filing. It could be prompted by changes in the legal or regulatory landscape, or in response to an emerging issue or risk. While the reasons for a filing are varied, insurers may want information to help them answer just a single question: What does this mean for my business?
We’ve created the Filings feature to help you more easily understand ISO filings content and more efficiently incorporate them into your business.
That’s why we’ve launched Filings, a new feature within ISO circulars to help insurers overhaul and streamline how they process ISO forms filings information and derive even more value out of their ISO Core Line Services subscription. With this new, complementary feature, insurers can learn:
- why a forms filing was made
- what ISO content is changing
- the potential impact of that forms filing on a line of business
File this under “working better”
An ISO insurance filing can be the catalyst for a series of complex changes at an insurer. Analyzing and implementing these changes can consume both time and resources for product developers and compliance personnel. Filing information is typically contained in a series of circulars issued at different stages of the filing process. To fully track and understand the consequence of a single filing, an insurer may have to retrieve information from multiple circulars, often separately compiling related information outside of the ISO circulars environment.
The new Filings feature can help an insurer streamline this process and centralize it all within a single location. You can use Filings to search for and view all of a forms filing’s information in one place, follow the progress of a forms filing over time, and easily access documents related to the forms filing. You can access various versions of forms as well as explanatory memorandums and circulars for each filing.
Users can search for Filing IDs/designations and view the entire circular regulatory lifecycle of a forms filing. The Filing feature displays the filing and circular relationships across time and includes relevant information, such as filing documents and metadata, to provide business context.
Maximizing your investment in ISO
Whether you’re a seasoned insurance professional working in compliance or product development or just beginning your industry journey, we’ve created the Filings feature to help you more easily understand ISO filings content and more efficiently incorporate them into your business. The enhanced efficiencies can help speed product time to market, help you more effectively track and respond to regulatory obligations, and generally stay abreast of ISO filing activity in a more streamlined format.
If you license Line of Insurance circulars, we encourage you to try to the new Filings feature for yourself today and let us know what you think by emailing Mary.DeLaFuente@Verisk.com.