Typical Internal Processes for ISO Circulars
Published: September 2010
It looks like you do not have free access to this report. Click Here to Buy or For More Information.
Current Clients: Login for Access to Full Report, or Non-clients, please click the preview link and provide contact information to unlock preview.
Maintaining rates, rules, and forms is a complex and labor intensive process within an insurance carrier. While the information provided by ISO (Insurance Services Organization) is extremely valuable to carriers, the typical process used within insurance companies is manual, involves a large number of functional areas, and is generally inefficient.
This report describes the typical processes used by carriers to handle ISO updates inside their organizations, highlights some of the specific challenges carriers face, and describes some of the solutions offered by policy administration vendors. Information was gathered from interviews with carriers, discussions with vendors, and Novarica principals’ own experience.
Costs and Work Effort…10