Following its acquisition of AQS, Insurity has completed the transfer of AQS’s ISO relationship and successfully integrated the two organizations
Washington, D.C., June 3, 2013 — From the IASA Annual Conference, Insurity, Inc., a provider of core insurance processing software and services, today announced that it has successfully completed major milestones since the acquisition of AQS, Inc., earlier this year. Insurity has integrated ISO Rating Service into its policy administration solution, Policy Decisions, and transferred the unique relationship with ISO from AQS to Insurity. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK).
Insurity’s platform technology and applications provide ISO with the engine to construct and maintain its industry content for its customers through ISO Rating Service. The Insurity software employs powerful tools that take maximum advantage of inheritance, thereby eliminating coding efforts required to support ISO multi-state and state-specific changes.
ISO Rating Service is a comprehensive, automated, rate-management system featuring a powerful combination of Insurity’s advanced technology and ISO’s product-management practices. Because ISO Rating Service uses the same rating tooling as Insurity, ISO advisory loss costs and rules are immediately available for Insurity synchronization with Policy Decisions’ and carrier custom lines-of-business using the same rating engine. ISO line-of-business metadata is also updated by this process. The rating tooling is part of the larger Insurity App Factory collaborative configuration management environment.
“We continue to be committed to provide ISO advisory content through ISO Rating Service platform, and we are pleased to have a strategic relationship with Insurity,” said Kevin Thompson, president of ISO Insurance Programs and Analytic Services. “Insurity is a valued member of our alliance network and an implementation and integration partner. We are excited to have a unique technology alliance with Insurity.”
“We’re thrilled to have completed so much in such a short time since the acquisition,” said Jeffrey Glazer, president and CEO, Insurity. “We’re excited to have this one-of-a-kind relationship with ISO and ISO Rating Service. We look forward to strengthening the alliance in the coming months.”
Glazer continued, “Insurity is the only insurance industry solution provider able to deliver the combination of enterprise capability, configurable rating, comprehensive tooling, and a unique relationship with ISO. In addition to transferring the technology alliance with ISO to Insurity, we’ve made all of the organizational changes required to integrate AQS into Insurity so we can operate as one streamlined company.”
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, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud identification tools; 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 member of the Verisk Insurance Solutions group at Verisk Analytics (Nasdaq:VRSK). For more information, visit www.iso.com and www.verisk.com.