ISO Offers Underwriting Aids.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. has two new products to help insurers identify, underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. , acquire and price commercial insurance accounts. 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. Risk Profiler helps insurers improve speed and accuracy of 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. decision-making, assess individual commercial-lines risks, and accurately price policies for individual accounts. ISO Pinpoint, a marketing tool, combines information unique to ISO and information from other sources to identify risks that match insurer-specified criteria. Typical information in ISO Pinpoint analyses includes information in public records, windstorm wind·storm n. A storm with high winds or violent gusts but little or no rain. windstorm A storm with high winds or violent gusts but little or no rain. and earthquake exposure and fire-protection capabilities of communities. Using ISO Risk Profiler, insurers can obtain information on prospective customers, including company- and industry-specific financial data, claims experience of individual insureds, loss experience by territory and loss exposures of individual risks. ISO, which has access to information on some 12 million companies, evaluates those variables using industry-accepted risk parameters and sends insurers reports electronically. Insurers using ISO Pinpoint can research commercial accounts within a specific market and request information based on categories, including standard industry classification codes. |
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