IASA Booth No. 914
Commercial Lines Insurers Can Save Time and Costs with Real-time ISO
Content, Automatically Rated ISO Products, and Optimized Product
MINNEAPOLIS, MN, June 4 /CNW/ - Camilion Solutions, a leading provider of
product development solutions and policy administration systems for insurance,
announced that they are now a Preferred Partner for the ISO Rating Service(R).
Camilion's next-generation policy administration system, Authority Suite(TM),
has successfully completed the integration proof of concept with ISO Rating
Service and can now be integrated directly with ISO Rating Service, a powerful
rating and rules engine preloaded with ISO loss cost and manual rule advisory
information for all major commercial lines.
Through this integration, ISO-licensed insurers will be able to use
Authority Suite to:
- gain real-time access to ISO content including loss costs, forms, and
stat codes for all lines of business in all available states
- significantly improve the management and reuse of both ISO and
proprietary products to accelerate product development
- automatically and accurately rate ISO policy applications to
significantly shorten submission-to-issuance times
- reduce costs and risk by eliminating the need for time-intensive and
error-prone manual updates of ISO content and third-party service
providers who supply and code ISO circulars for insurers
"We are constantly innovating to provide our commercial lines customers
with the most modern and flexible policy administration system available,"
said Ross Orrett, Camilion's CEO and president. "By integrating directly with
ISO Rating Service, Authority Suite provides unparalleled capability to
shorten sales cycles, improve underwriting efficiencies, and accelerate
"ISO Rating Service was developed in response to insurers' requests for a
way to automate the complex, labor-intensive, and costly process of policy
rate maintenance and management," said John Joly, chief operating officer, ISO
Insurance Technology Solutions, a division of ISO Strategic Solutions, Inc.
"We are encouraged by the prospects this proof of concept provides, and with
integration to a next-generation policy administration system like Authority
Suite, our service is even more powerful."
About Authority Suite
With its superior architecture that separates product from process, and a
modern technology platform that capitalizes on a services-oriented
architecture (SOA), Authority Suite is a next-generation policy administration
system for property and casualty insurers. Authority Suite helps insurers
accelerate the development of better products, optimize underwriting
efficiency, and write more profitable business.
Authority Suite supports the entire policy life cycle, including
application data capture, qualification, rating, quote management, bind,
issuance, and post-bind - not just pricing and calculations. Authority Suite's
consolidated underwriting workstation and straight-through processing for
online sales make insurers easier to do business with.
Powered by ProductAuthority(TM), the only "pure" enterprise product
configurator built from the ground up for insurance, Authority Suite separates
product from process. All product data and rules are externalized in a central
repository, and products can be rapidly configured - without impacting
workflows and policy transactions.
About Camilion Solutions, Inc.
With customers who are the world's largest insurers, Camilion Solutions,
Inc. (www.authoritysuite.com) is a leading provider of enterprise software
solutions to the insurance industry. Camilion uses its deep knowledge of the
insurance industry to develop software solutions that enable insurers to
launch new or modified products more quickly and efficiently than competitors,
automate underwriting, enable straight-through processing for online sales,
and deploy an agile, modern technology platform to better support current and
future growth. Camilion is a privately owned corporation founded in 2000 with
offices in Toronto and New York.
About ISO Rating Service
ISO Rating Service(R) is a comprehensive, automated rate-management
system featuring a powerful combination of advanced technology and
product-management tools. ISO Rating Service provides ISO advisory information
loaded into a powerful rating engine - plus rate-management decision tools and
continual ISO updates. ISO Rating Service also provides an efficient process
for adopting, managing, and implementing ISO insurance program revisions. ISO
Insurance Technology Solutions (ISO-ITS), a division of ISO Strategic
Solutions, Inc., delivers ISO Rating Service. The scalable, tool-based
components of ISO-ITS let insurers cost-effectively and rapidly deploy
property/casualty programs, automatically manage rates, conduct rules-based
underwriting, perform online quoting and administer full policy life cycles.
For more information, visit www.ISO-ITS.com.
ISO is a leading provider of products and services that help measure,
manage, and reduce risk. ISO provides data, analytics, and decision-support
solutions to professionals in many fields, including insurance, finance, real
estate, health services, government, and human resources. Clients use ISO's
databases and services to classify and evaluate a variety of risks and detect
potential fraud. In the U.S. and around the world, ISO's services help
customers protect people, property, and financial assets. ISO's interactive
website is www.iso.com.
ProductAuthority(TM), Authority Suite(TM), and related names are
trademarks of Camilion Solutions, Inc. All other products and services
mentioned are trademarks of their respective companies.
For further information:
For further information: Gwen Lannaman, Camilion Solutions Inc., Tel:
(905) 489-0752, Mobile: (416) 922-9557, email@example.com