AscendantOne Signs Agreement with Preferred Mutual Insurance Company.Business Editors NASHUA, N.H.--(BUSINESS WIRE)--Dec. 10, 2003 Insurer to Implement AscendantOne Browser-Based Rating, Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and Policy-Administration Solutions for Commercial Lines AscendantOne(R), a unit of Insurance Services Office Insurance Services Office, Inc. (ISO) is a provider of data, underwriting, risk management and legal/regulatory services to property-casualty insurers and other clients. Headquartered in Jersey City, New Jersey, the organization serves clients with offices throughout the United , Inc. (ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. ), has signed an agreement with Preferred Mutual Insurance Company (PMIC PMIC Practice Management Information Corporation PMIC Power Management Integrated Circuit PMIC Precious Metals Indicator Code PMIC Psychiatric Medical Institute for Children (Glenwood, IA) ) to license AscendantOne's comprehensive property/casualty suite of sales and service solutions. PMIC will implement AscendantOne's browser-based rate-quote-issuance, underwriting, policy-administration and account-management system. The AscendantOne system will allow PMIC to web-enable the company's rating, underwriting and policy service processes while greatly reducing operating costs operating costs npl → gastos mpl operacionales . PMIC, a New Berlin, N.Y.-based property/casualty insurer, will initially deploy AscendantOne's rating-underwriting and policy-management solutions with ISO's prospective advisory loss costs, manual rules and policy forms for commercial automobile, commercial package policy (CPP cpp - C preprocessor. ) and Businessowners Program 2002 in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). and Massachusetts. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bill Jardinella, vice president and chief information officer at PMIC, "AscendantOne's web-addressable architecture complements PMIC's strategic direction. AscendantOne has already brought to market its advanced architecture. During our extensive, competitive vendor evaluation process, AscendantOne stood out for its financial stability and its ability to deliver already-validated ISO content." "We're also impressed by the solution's flexibility in meeting our business needs and the system's price-performance advantage over the long term. The AscendantOne toolset provides autonomy for our business users and brings greater efficiency to ongoing program maintenance," Jardinella said. "The modern technology underlying AscendantOne's automated rating process, rules-based underwriting system and web-enabled rate-quote and policy-management workflows is critical to our independent agency distribution framework," said James Crandall, vice president of insurance operations at PMIC. "As an ISO company, AscendantOne's rating and policy capabilities will support our sales, service and distribution objectives. This played a key role in our selection process," Crandall added. "As we grow in commercial lines, AscendantOne's pre-loaded ISO content, rules-based underwriting and automated capabilities for accurate, ongoing rate management deliver competitive and speed-to-market advantages," said Keith Carpenter, manager of commercial lines services at PMIC. "Cutting the time down on rate management will give us more control and flexibility to expand our commercial lines business. We needed greater insight into our sales, service and account management operations, more real-time collaborative connections with our agency markets, as well as well-improved quote, issuance and endorsement service. AscendantOne solutions will provide us with these essential advantages," Carpenter stated. |
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