JERSEY CITY, N.J., September 26, 2016 — ISO announced today the launch of Mozart Form Composer™, an innovative forms management tool and product development platform for the insurance industry. ISO is a Verisk Analytics (Nasdaq:VRSK) business.
Mozart™ helps insurers manage and create products to address today’s risks, reduce production time, and streamline the product development process.
Mozart’s core features include a centralized repository and library for insurers’ proprietary coverage language and the ISO forms they license. Fueled by ISO proprietary smart tags, Mozart’s search technology allows insurers to leverage a vast library of policy wordings to develop, draft, and edit customized insurance contracts.
“In today’s competitive environment, insurers are looking for profitable growth opportunities and ways to increase operational efficiency while putting an enhanced emphasis on compliance, audit, and risk management,” said Maroun Mourad, senior vice president, commercial lines domestic and global at ISO. “With Mozart, insurers can easily research, create, and edit policy wording, providing efficiencies in time to market—for both new offerings and critical coverage updates.”
Mozart was developed with input from several insurers, including Markel Corporation, and will continue to evolve based on customer feedback.
“We were delighted to partner with ISO in their development of Mozart, as we quickly recognized the benefits that Mozart could provide in our forms management and creation process,” said Christine McDaniel, product development manager at Markel, an underwriter of specialty insurance products. “By centralizing our proprietary forms with ISO forms and using Mozart’s core functionality, we’ve already realized significant efficiencies when searching for forms, identifying the impact that ISO changes may have on our own forms, and by streamlining our workflow process. We’re looking forward to seeing the continued evolution of this innovative platform.”
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, ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; 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 Verisk Analytics (Nasdaq:VRSK) business. For more information, visit www.verisk.com/iso and www.verisk.com.