Insurity Launches Industry’s First Regulatory Competency Center to Help P&C Insurers Rapidly Meet New Compliance Requirements
September 01, 2021
The new Regulatory Competency Center will provide additional resources for Insurity customers to support capacity planning and the major ISO changes coming in the next 18 to 24 months
HARTFORD, Conn.- Insurity, a leading provider of cloud-based software for property and casualty (P&C) carriers, brokers, and MGAs today announced that it has launched its new Regulatory Competency Center (RCC). Insurity recognized and anticipated the potential impact the upcoming ISO roadmap would have on insurance carriers and partners, thus investing in the RCC to expand and deliver enhanced capabilities. This empowers Insurity’s customers to excel during these changing times and provide them with an efficient delivery of ISO expertise to their value stream – saving them up to hundreds of thousands of hours. The RCC will enable faster adoption of new compliance requirements, allowing insurers to quickly implement newer rates and generate an increase in premium across policies.
Insurance organizations can face delays in ensuring compliance across different states and lines of business due to the complexity of some Bureau changes. Insurity’s new RCC will support ISO, NCCI, and independent Bureaus for 50 states, the District of Columbia (D.C), and Puerto Rico across more than 20 lines of business. The RCC will enable Insurity to increase responsiveness and meet the service level expectations established for Bureau support. This support consists of customer-accepted and customer-specific maintenance and customization for Insurity’s customers. In addition, the RCC will also be responsible for supporting enterprise forms and underwriting rules.
Insurity is the first major provider to offer such compliance support to insurance organizations. The RCC will have a dedicated team of resources, including developers, quality assurance personnel, and more to ensure that customers’ compliance needs are promptly met.
“There is a tidal wave of changes coming from ISO in the next 18 to 24 months,” said Roy Wood, Chief Customer Officer at Insurity. “The RCC addresses these changes head-on with a simplified approach. As the market continues to evolve, Insurity is investing in our customers’ success so they can quickly capitalize on new opportunities in the marketplace while ensuring compliance.”
“The focus of the RCC is to ensure that our customers are aligned to the coming Bureau changes and to work with customers to assist in their compliance efforts,” said Fatima Dubauskas, VP, Regulatory Competency Center at Insurity. “I am thrilled to be leading Insurity’s new RCC and help our customers dynamically respond to upcoming Bureau, forms, and underwriting modifications. It is just one of the many ways Insurity is committed to driving customer value and providing industry-leading support.”
Insurity is a leading provider of cloud-based software and analytics for insurance carriers, brokers, and MGAs. Insurity is trusted by 15 of the top 25 P&C Carriers in the US and has over 250 cloud-based deployments. Through its best-in-class digital platform and with unrivaled industry experience and thought leadership, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. Insurity is a portfolio company of GI Partners. For more information, visit www.insurity.com.