Solartis Adds ISO Businessowners Policy and Commercial Umbrella Lines of Business to Its Growing Library of ISO Electronic Rating Content
Solartis announced the commercial availability of ISO Businessowners Policy and Commercial Umbrella rating data and rules for quote and policy life cycle transactions on the Solartis Insure™ platform. Solartis natively imports ISO Electronic Rating Content™ into the Solartis Insure platform for use in admitted and non-admitted insurance products. The latest releases of ISO ERC™ are available for use in the Solartis Insure platform within 24 hours of their publication by ISO.
– Solartis provides sales and full policy life cycle cloud-based services to insurance carriers, their distribution partners, and insureds. The Solartis Insure platform is a set of sales and policy life cycle web services available through RESTful web services in a Platform as a Service (PaaS) environment or with a Solartis-provided, customer-designed user interface (SaaS).
– ISO, a Verisk Analytics business, is a leading source of information about property/casualty insurance risk. Using the ISO ERC solution, Solartis natively consumes the latest ISO rating and forms attachment information into the Solartis platform.
The result of this collaboration is a new approach to insurance sales and policy administration technology projects that shortens time to market; ensures rate, rule, and form accuracy; and minimizes project risks because the ISO rating content and the Solartis sales and policy life cycle web services are pretested and readily available.
Nick Richardson, Solartis president, said, “Solartis has cracked the code on natively consuming ISO ERC. We’ve eliminated the need for insurers to manually document business requirements, develop technical specifications, and implement coding and acceptance-testing cycles for new ISO circulars. The average impact in terms of time, cost, and accuracy improvements to both ‘go to market’ and maintenance of ISO updates is staggering.”
“We’re excited to see Solartis make these two ISO lines of business commercially available for full quote and policy lifecycle processing with the latest ERC releases, available for use within 24 hours of ISO publishing a new version,” said Mark Sheehan, head of ISO Rating Solutions. “The Solartis digital platform, fueled by ISO’s ERC solution, will help meet the growing demand for faster and more efficient service and straight-through processing.”
About Solartis
SIMPLIFYING INSURANCE ADMINISTRATION.
At Solartis, our mission is to simplify insurance administration. Our focus is exclusively on insurance. Our customers are insurance carriers, managing general underwriters/agencies, brokers and captives. Today we have over 700 employees in multiple onshore and offshore locations. Every Solartis customer is a Solartis reference.
