Solartis Insure™ uses
ISO Electronic Rating Content™
and it works!
"Implementing ISO ERC™ as a component of U.S. commercial lines digital insurance platform will soon be a ‘must have’ for insurance business success. Solartis is leading the pack in delivering this new approach to enterprise-level quote and policy life cycle functionality incorporating ISO ERC™."
– Mike Toran, CIO of Starr Companies
Solartis has automated the use of ISO ERC for all quote and policy life cycle transactions. Many of the other ISO ERC providers only use ISO ERC as a “source file”.
Our proprietary approach relies on powerful algorithms that track and feed ISO ERC updates automatically into our rating microservice (Rating API). All within 24 hours of the ISO version release.
The difference in cost and time to market is staggering.
We pass these onto you….
THE BENEFITS ARE CLEAR:
- 10+ People on average are involved in analyzing an ISO update
- 70+ work days average time spent manually processing an ISO update
- 30% of the time spent analyzing and interpreting the change
- 40% of the time spent implementing system changes
- Leverage your current technology investment
- Super fast performance: Rating results in under 1 second
- 24 hours? Yes, rate and rule updates are available within 24 hours of the ISO ERC version release
A 39% reduction
in overall work hours
A 58% decrease
in work time for IT modifications
A 35% decrease
in overall cost
A 7-month improvement
in being current with ISO
You know the drill. Receive an ISO Circular. Begin analyzing, tracking and disseminating the updates. Conduct product line analyses, summarize changes, implement changes, push live to production. Rinse and repeat.
The whole process takes most carriers 70+ work days to manually process an ISO update. With an average of 75 circulars issued each week, most insurance carriers have to employ at least 10 resources on average focusing solely on ISO updates. This is a challenge our clients used to know all too well.
THE BEST PART?
The Solartis Insure ISO ERC™ integration is available in every Solartis Insure deployment:
Rating as a Service
Real-time ISO Updates
For use with your own policy administration platform. We provide the rating microservice (Insurance rating API), with ISO ERC.
Platform as a Service
Fuel your digital strategy with Solaris Insure policy life cycle microservices. You create the screens, digital content, apps and business processes that best meet the needs of your business.
Software as a Service
A total policy administration (sales and policy life cycle) solution. We supply it all.