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ISO Assists Companies in Creating Their Own Predictive Analytics

Staff Writer | February 18, 2015

ISO expands its suite of predictive modeling tools with the launch of ISO RiskElements, a new service that provides companies with the high-quality, model-ready data they need to build their own predictive analytics.

The service offers access to the same data ISO has used for years to conduct its own analytic research, including ISO aggregate data, public data sources, and data from select third-party data providers, all of which is validated, scrubbed, and ready for modeling. The data can support research for a wide range of functions within a company, including marketing, actuarial and claims analysis, and product development.

"In recent years, our customers have told us they want to develop predictive analytics but don't have the time to search for meaningful data and prepare it for modeling," says Beth Fitzgerald, president of ISO Insurance Programs and Analytic Services. "ISO RiskElements is a one-stop data shop, a place that companies of all sizes can turn to for their modeling data needs. It's part of our ongoing commitment to provide insurers with the tools required to analyze risk."

"In today's complex and fragmented world of big data, insurers are looking to increase innovation and speed in predictive analytics," says Phil Hatfield, head of modeling data services for ISO Insurance Programs and Analytic Services. "Whether you're looking to reach new markets or develop new coverages, ISO RiskElements provides the high-quality data you need to generate new insights and hone your business strategy."  

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