Camilion Announces Integration of Next-Generation Authority Suite(TM) with ISO Rating Service(R).Commercial Lines Insurers Can Save Time and Costs with Real-time 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. Content, Automatically Rated ISO Products, and Optimized Product Development MINNEAPOLIS -- Camilion Solutions, a leading provider of product development solutions and policy administration systems for insurance, announced that they are now a Preferred Partner for the ISO Rating Service(R). Camilion's next-generation policy administration system, Authority Suite(TM), has successfully completed the integration proof of concept with ISO Rating Service and can now be integrated directly with ISO Rating Service, a powerful rating and rules engine preloaded with ISO loss cost and manual rule advisory information for all major commercial lines. Through this integration, ISO-licensed insurers will be able to use Authority Suite to: - gain real-time access to ISO content including loss costs, forms, and stat stat adv. With no delay. adj. Immediate. STAT Stat! Clinical medicine adverb Fast, quickly, immediately, schnell, vite Lab medicine noun codes for all lines of business in all available states - significantly improve the management and reuse reuse - Using code developed for one application program in another application. Traditionally achieved using program libraries. Object-oriented programming offers reusability of code via its techniques of inheritance and genericity. of both ISO and proprietary products to accelerate product development - automatically and accurately rate ISO policy applications to significantly shorten submission-to-issuance times - reduce costs and risk by eliminating the need for time-intensive and error-prone manual updates of ISO content and third-party service providers who supply and code ISO circulars for insurers "We are constantly innovating to provide our commercial lines customers with the most modern and flexible policy administration system available," said Ross Orrett, Camilion's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president. "By integrating directly with ISO Rating Service, Authority Suite provides unparalleled capability to shorten sales cycles, improve 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. efficiencies, and accelerate product development." "ISO Rating Service was developed in response to insurers' requests for a way to automate the complex, labor-intensive, and costly process of policy rate maintenance and management," said John Joly John Joly (November 1 1857 – December 8 1933) was an Irish scientist, possibly most famous for his development of radiotherapy in the treatment of cancer. He is also known for developing techniques to accurately estimate the age of a geological period, based on radioactive , chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , ISO Insurance Technology Solutions, a division of ISO Strategic Solutions, Inc. "We are encouraged by the prospects this proof of concept provides, and with integration to a next-generation policy administration system like Authority Suite, our service is even more powerful." About Authority Suite With its superior architecture that separates product from process, and a modern technology platform that capitalizes on a services-oriented architecture (SOA (1) (Start Of Authority) The first record in a DNS zone file. See DNS records. (2) (Service Oriented Architecture) The modularization of business functions for greater flexibility and reusability. ), Authority Suite is a next-generation policy administration system for property and casualty insurers. Authority Suite helps insurers accelerate the development of better products, optimize underwriting efficiency, and write more profitable business. Authority Suite supports the entire policy life cycle, including application data capture, qualification, rating, quote management, bind, issuance, and post-bind - not just pricing and calculations. Authority Suite's consolidated underwriting workstation and straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. for online sales make insurers easier to do business with. Powered by ProductAuthority(TM), the only "pure" enterprise product configurator built from the ground up for insurance, Authority Suite separates product from process. All product data and rules are externalized in a central repository, and products can be rapidly configured con·fig·ure tr.v. con·fig·ured, con·fig·ur·ing, con·fig·ures To design, arrange, set up, or shape with a view to specific applications or uses: - without impacting workflows and policy transactions. About Camilion Solutions, Inc. With customers who are the world's largest insurers, Camilion Solutions, Inc. (www.authoritysuite.com) is a leading provider of enterprise software solutions to the insurance industry. Camilion uses its deep knowledge of the insurance industry to develop software solutions that enable insurers to launch new or modified products more quickly and efficiently than competitors, automate underwriting, enable straight-through processing for online sales, and deploy an agile, modern technology platform to better support current and future growth. Camilion is a privately owned corporation founded in 2000 with offices in Toronto and 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 . About ISO Rating Service ISO Rating Service(R) is a comprehensive, automated rate-management system featuring a powerful combination of advanced technology and product-management tools. ISO Rating Service provides ISO advisory information loaded into a powerful rating engine - plus rate-management decision tools and continual ISO updates. ISO Rating Service also provides an efficient process for adopting, managing, and implementing ISO insurance program revisions. ISO Insurance Technology Solutions (ISO-ITS), a division of ISO Strategic Solutions, Inc., delivers ISO Rating Service. The scalable, tool-based components of ISO-ITS let insurers cost-effectively and rapidly deploy property/casualty programs, automatically manage rates, conduct rules-based underwriting, perform online quoting and administer full policy life cycles. For more information, visit www.ISO-ITS.com. About ISO ISO is a leading provider of products and services that help measure, manage, and reduce risk. ISO provides data, analytics, and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services health services Managed care The benefits covered under a health contract , government, and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . Clients use ISO's databases and services to classify clas·si·fy tr.v. clas·si·fied, clas·si·fy·ing, clas·si·fies 1. To arrange or organize according to class or category. 2. To designate (a document, for example) as confidential, secret, or top secret. and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO's services help customers protect people, property, and financial assets Financial assets Claims on real assets. . ISO's interactive website is www.iso.com. ProductAuthority(TM) , Authority Suite(TM), and related names are trademarks of Camilion Solutions, Inc. All other products and services mentioned are trademarks of their respective companies. |
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