Hartland, Wis. — AQS Inc., a provider of policy administration systems for commercial property/casualty insurance, today announced the acquisition of the assets and corresponding personnel of the AscendantOne Policy Management Suite from ISO Insurance Technology Solutions (ISO-ITS), a unit of risk management technology provider Insurance Services Office Inc. (ISO). Terms of the transaction were not announced.
The acquisition is designed to give AQS broader carrier-service options, as the company adds the capabilities of the AscendantOne Policy Management Suite and the associated rate-management capabilities to its current policy administration offerings for property/casualty insurers. As part of the transaction, Hartland, Wis.-based AQS will obtain the tools used to maintain the ISO Rating Service software. ISO retains ownership of ISO Rating Service and will maintain and support the advisory loss costs, rules and forms contained in ISO Rating Service.
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