Solartis Announces Release of Rating Micro Service (API) with Fully Automated Consumption of ISO Electronic Rating Content

Solartis announced the immediate availability of a rating micro service (API) that customers can access via an XML or JSON call from their technology environment . The new rating micro service is supported by ISO commercial lines programs through its fully automated consumption of ISO Electronic Rating Content^TM (ERC^TM). Its lightning-fast performance, from milliseconds for simple risks to a few seconds for large risk schedules, is unprecedented. Customers configure their carrier product exceptions to ISO in their existing policy administration system or in the Solartis Insure platform – their choice! In either case, the carrier product exceptions sit “on top” of the ISO ERC^TM countrywide and state versions, thus preserving the carriers’ deviations upon subsequent updates to ISO rating content.

Nick Richardson, Solartis president, said, “Leveraging ISO ERC, we have eliminated the need for insurers and their vendor partners to interpret and automate the ISO Commercial Lines Manual and ISO circulars. By automating the consumption of ERC, we have reduced their workload to specifying only their exceptions to ISO. The impact in terms of time, cost, and accuracy improvements is staggering.”

“We’re excited to see Solartis make its Solartis Insure available with the up-to-date library of countrywide and state ISO rating content,” said Mark Sheehan, head of ISO Rating Solutions. “The Solartis digital platform, fueled by ISO’s ERC, 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.

For more information, contact Carol Mowry McKenzie, vice president, Solartis, via e-mail at cmckenzie@solartis.com or phone at 570-815-4556.