AscendantOne, RebusIS, Announce Alliance

NU Online News Service, Oct. 27, 1:47 p.m.EST?The AscendantOne unit of Insurance Services OfficeInc. and RebusIS have announced an alliance to integrateAscendantOne's rate management system with Genius, RebusIS'sWeb-based property-casualty policy management product.

RebusIS, based in Secaucus, N.J., will integrate AscendantOne'srate management and underwriting system, which provides a ratingengine and tool-based rate development and maintenance capabilitiesfor all property-casualty lines, along with a comprehensiveunderwriting engine for automated underwriting and real-time riskdecision support, the companies said.

The system, according to the companies, also provides ratingdocumentation and a variety of analytical reports for customers toevaluate the impact of pricing changes before making them.

For Genius customers writing ISO-based insurance programs,Nashua, N.H.-based AscendantOne can also provide ISO-validatedadvisory prospective loss costs and manual rules to automaticallyfeed into its rate management and underwriting software, said ISO.AscendantOne will also provide ongoing, fully automated maintenanceof the ISO content to support Genius users.

According to Jersey City, N.J.-based ISO's announcement, Geniusis RebusIS's insurance solution for the property-casualty market,offering policy administration, billing and claims for alllines?including reinsurance, managing general agents and managinggeneral underwriters through to niche and specialty insurance.

ISO said the application allows new products to be brought tomarket quickly, opens new market channels and enables customers toself-serve accounts. Genius is a multilingual, multiclass,multicompany, multicurrency, integrated, real-time onlineapplication package.

RebusIS supplies business-to-business insurance solutions,document management, hosting services, and insurance/IT resourcesand consultancy.

AscendantOne offers the Solution Suite, a browser-basedproperty-casualty rate-quote, underwriting, policy andaccount-management capability, powered by ISO's manual rules,advisory prospective loss costs and forms.

The financial basis of the agreement was not announced.