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Solartis Adds Lines of Business to Library of ISO Electronic Rating Content

Staff Writer | May 09, 2017

Solartis announces the commercial availability of ISO Businessowners Policy and Commercial Umbrella rating data and rules for quote and policy life cycle transactions on the Solartis Insure platform.

Solartis natively imports ISO Electronic Rating Content into the Solartis Insure platform for use in admitted and non-admitted insurance products. The latest releases of ISO ERC are available for use in the Solartis Insure platform within 24 hours of their publication by ISO.

Solartis provides sales and full policy life cycle, cloud-based services to insurance carriers, their distribution partners, and insureds. The Solartis Insure platform is a set of sales and policy life cycle web services available through RESTful web services in a Platform as a Service (PaaS) environment or with a Solartis-provided, customer-designed user interface (SaaS).

ISO, a Verisk Analytics business, is a leading source of information about property/casualty insurance risk. Using the ISO ERC solution, Solartis natively consumes the latest ISO rating and forms attachment information into the Solartis platform.

The result of this collaboration is a new approach to insurance sales and policy administration technology projects that shortens time to market; ensures rate, rule, and form accuracy; and minimizes project risks because the ISO rating content and the Solartis sales and policy life cycle web services are pretested and readily available.

"Solartis has cracked the code on natively consuming ISO ERC. We've eliminated the need for insurers to manually document business requirements, develop technical specifications, and implement coding and acceptance-testing cycles for new ISO circulars,” says Nick Richardson, president of Solartis. “The average impact in terms of time, cost, and accuracy improvements to both go-to-market and maintenance of ISO updates is staggering."

"We're excited to see Solartis make these two ISO lines of business commercially available for full quote and policy lifecycle processing with the latest ERC releases, available for use within 24 hours of ISO publishing a new version," says Mark Sheehan, head of ISO Rating Solutions. "The Solartis digital platform, fueled by ISO's ERC solution, will help meet the growing demand for faster and more efficient service and straight-through processing."

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