Claims News Service, Oct. 4, 10:31 a.m. EST -- The Insurance Services Office has added claim standardization codes to its Automobile-Property Loss Underwriting Service (A-PLUS) system that it says will eliminate the need for underwriters to review loss history reports manually, which will help carriers automate and improve underwriting risk evaluation and rating.

Claim standardization codes will be determined for each claim in an applicant's loss history. According to ISO, the codes will summarize information about claim features, such as policy type, loss type, age of claim, loss amount, and other factors. ISO said it also will offer customizable claim codes where companies can define dozens of custom loss range values and claim feature codes.

"The Claim Standardization Codes can combine the accuracy of manual claim review with increased uniformity in policy decision making, greater compliance with company underwriting guidelines, and increased efficiency," said Steven Craig, A-PLUS general manager.

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