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Solartis Releases Rating Micro Service with ISO Electronic Rating Content

Staff Writer | October 03, 2017

Solartis announces the immediate availability of a rating micro service (API) that customers can access via an XML or JSON call from their technology environment. The new rating micro service supports ISO commercial lines programs through its automated consumption of ISO Electronic Rating Content.

Customers configure their carrier product exceptions to ISO in their existing policy administration system or in the Solartis Insure platform. In either case, the carrier product exceptions sit "on top" of the ISO ERC countrywide and state versions, thus preserving the carriers' deviations upon subsequent updates to ISO rating content.

"Leveraging ISO ERC, we have eliminated the need for insurers and their vendor partners to interpret and automate the ISO Commercial Lines Manual and ISO circulars,” says Nick Richardson, Solartis president. “By automating the consumption of ERC, we have reduced their workload to specifying only their exceptions to ISO. The impact in terms of time, cost, and accuracy improvements is staggering."

"We're excited to see Solartis make its Solartis Insure available with the up-to-date library of countrywide and state ISO rating content," says Mark Sheehan, head of ISO Rating Solutions. "The Solartis digital platform, fueled by ISO's ERC, will help meet the growing demand for faster and more efficient service and straight-through processing."
 

 


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