AscendantOne, RebusIS, Announce Alliance
NU Online News Service, Oct. 27, 1:47 p.m. EST?The AscendantOne unit of Insurance Services Office Inc. and RebusIS have announced an alliance to integrate AscendantOne's rate management system with Genius, RebusIS's Web-based property-casualty policy management product.
RebusIS, based in Secaucus, N.J., will integrate AscendantOne's rate management and underwriting system, which provides a rating engine and tool-based rate development and maintenance capabilities for all property-casualty lines, along with a comprehensive underwriting engine for automated underwriting and real-time risk decision support, the companies said.
The system, according to the companies, also provides rating documentation and a variety of analytical reports for customers to evaluate 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-validated advisory prospective loss costs and manual rules to automatically feed into its rate management and underwriting software, said ISO. AscendantOne will also provide ongoing, fully automated maintenance of the ISO content to support Genius users.
According to Jersey City, N.J.-based ISO's announcement, Genius is RebusIS's insurance solution for the property-casualty market, offering policy administration, billing and claims for all lines?including reinsurance, managing general agents and managing general underwriters through to niche and specialty insurance.
ISO said the application allows new products to be brought to market quickly, opens new market channels and enables customers to self-serve accounts. Genius is a multilingual, multiclass, multicompany, multicurrency, integrated, real-time online application package.
RebusIS supplies business-to-business insurance solutions, document management, hosting services, and insurance/IT resources and consultancy.
AscendantOne offers the Solution Suite, a browser-based property-casualty rate-quote, underwriting, policy and account-management capability, powered by ISO's manual rules, advisory prospective loss costs and forms.
The financial basis of the agreement was not announced.
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