Sapiens International Corp. N.V. a provider of business-rules based insurance solutions based in Research Triangle Park, N.C., has signed a strategic agreement with ISO to offer the ISO Rating Service, a new rating system and rate-management offering for the property and casualty industry, integrated to its Policy INSIGHT policy administration solution.

"This 'Preferred Partner' relationship will enable Sapiens to provide their customers the ability to leverage ISO Rating Service by combining it into their Policy INSIGHT solution," said Scott Stephenson, ISO executive vice president. "Now our joint customers can support ISO lines of business and also customize and administer independent, company-specific programs to support non-ISO lines of business".

The ISO Rating Service is an operational rating platform with built-in access to ISO-validated rating information and automatic electronic rating updates. It is loaded with ISO circular content - loss costs, forms assignment and rules based on state regulations. The service includes ongoing updates for each ISO line of insurance, supported by ISO's industry experts, actuarial staff and line operation specialists.

Judy Johnson, Director of Insurance Strategy for Sapiens said, "Integration of the ISO Rating Service will allow carriers, and their vendor partners, to streamline the maintenance of rating information even if they have incorporated company-specific deviations."

Source: Sapiens

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