Here's the difference between an insurance rating engine that uses ISO Electronic Rating Content™ (ISO ERC) and one that doesn't.
Is the process of updating your commercial lines insurance rating content keeping you up nights? It's time for a cloud rating engine.
Learn how commercial lines insurers are leveraging the power of a standardized rating engine to help them spin up new products quickly.
Rating-as-a-Service (RaaS) allows insurers to receive Verisk’s ISO Electronic Rating Content (ERC) with a cloud-based API.
Verisk has dramatically expanded the available consumption models for ISO rating content, including a new cloud-based “Rating as a Service,” or RaaS, model.
Insurers that process regulatory changes manually could dramatically reduce costs by using ISO Electronic Rating Content.
ISO ERC allows insurers to ingest ISO rating content electronically through XML, simplifying maintenance and update while giving flexibility to use own systems.
Recent research conducted by Celent shows insurers that use Verisk’s ISO Electronic Rating Content are more likely to be current and spend less time processing changes.
ISO Electronic Rating Content—working with Guidewire—is further expanding its ability to help property and casualty insurers be more nimble, efficient and cost effective.
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