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ISO Provides ISOPAX® Network Premium Audit Services to
GuideOne Insurance
June 30, 2009 — ISO has signed a licensing agreement to provide ISOPAX® Network premium audit services to GuideOne Insurance.
Under the agreement, ISO will administer the outsourcing of GuideOne Insurance's premium audit function using the ISOPAX Network to distribute GuideOne Insurance's premium audit orders throughout the United States to approved premium audit vendors. ISOPAX quality-assurance personnel will manage the vendor workforce to ensure that important service standards established by GuideOne Insurance regarding audit quality and timeliness are consistently achieved. ISO will manage the premium audit function on GuideOne Insurance's behalf.
"The ISOPAX Network offers GuideOne Insurance an efficient and economical way to manage its resources so it can focus on developing its markets," said John Drehfal, manager, Risk Decision Services at ISO. "The service provides GuideOne Insurance with high-quality comprehensive audit reports, enabling GuideOne Insurance to make decisions and ensure proper premium collection for risk undertaken. In addition, ISO now provides a higher level of service in California to meet the requirements of the state's insurance department. ISOPAX is working with GuideOne Insurance to significantly improve its results with California vendors."
"Using the ISOPAX Network to track workers compensation audits, we get instant access to a wide range of information we use every day, such as status reports from vendors and final audit reports," said Michael Reich, commercial major accounts at GuideOne Insurance. "The system allows us to give near real-time status information directly to our underwriters, which is useful when corresponding with agents. And the online information about specific vendors enables us to compare quality and response times and monitor service levels."
With access to the ISOPAX Network, GuideOne Insurance can order physical, telephone, and mail audits for any size policy. The workflow management capabilities allow GuideOne Insurance to track work orders easily at any step in the process; attach documents, such as policy endorsements, to an audit when placing an order; and attach any required documents collected during the audit, such as certificates of insurance, when the vendor returns the audit. All of this is completed electronically with ease and efficiency.
The ISOPAX Network service also enables GuideOne Insurance to check the current status of its audits, create a variety of management reports, and view or print completed audits.
ISO's system for managing outsourced premium audits combines ISO's expertise in delivering quality premium audit information anywhere in the country with the convenience of web delivery through a secure dedicated website, www.isopax.com. The ISOPAX Network offers insurers a variety of ways to order, track, and retrieve their outsourced premium audits.
About GuideOne Insurance
Founded in 1947 and headquartered in West Des Moines, Iowa, GuideOne Insurance is one of the nation's largest church insurers, with about 43,000 church policyholders. GuideOne also insures private schools and colleges, as well as senior living communities. GuideOne's personal lines products include auto and homeowners insurance. GuideOne is licensed to do business in all 50 states and markets its products and services through nearly 1,600 independent and career agents. The company carries an "Excellent" rating from A.M. Best.
About ISO
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets.
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