How short-on-time insurers can keep accelerating program updates

August 10, 2022 / 2 min read

For insurers, time can be a precious commodity, and sometimes, researching and tracking Forms, Rules and Loss Costs can take up a significant portion of that time. In a market where uncertainty rules, new risks can often appear, along with sudden legislative changes.

But insurers that want to focus on the future—whether that means expanding their book of business or building new products—need ways to accelerate the process of finding, understanding and incorporating new forms, rules, and loss costs into their business.

filings-tool

After hearing from customers about the time they spend searching for Filings, ISO implemented Forms filings.

Here’s how Verisk can help

With enhanced search capabilities, Verisk’s newly expanded Filings tool, available within ISOnet^® circulars, can significantly reduce the time licensed insurers spend researching new and updated ISO Forms, Rules and Loss Costs. This is especially helpful given the number of filings that insurers must track. Last year alone, ISO submitted more than 2,000 filings to state insurance departments around the country.

After hearing from customers about the time they spend searching for Filings, ISO implemented Forms filings. Now, Rules and Loss Costs Filings have been added, so customers can quickly access and search for ISO Rules, which help insurers implement an ISO Insurance Program, and ISO Loss Costs data, which supports insurance pricing. These can all now be found in one easy, convenient place on ISOnet.

The enhancements to the Filings feature include:

Enhanced search functionality: Customers now have more options than ever to find what they’re looking for, with the ability to search using keywords, topics, or form numbers, as well as any filings related to their original search.
Dedicated filtering capabilities: Customers can now easily access a filterable view of all the filings under their subscription agreement, eliminating the need to memorize filing IDs. They can also use these new filtering capabilities to further narrow results by filing status, effective date, state, line of business, or date, making it more intuitive to locate filings.

These features enable insurance professionals to quickly search through thousands of the latest updates to Verisk’s ISO Insurance Programs and address critical changes in the marketplace.