Insurance Services Office
American company
From Wikipedia, the free encyclopedia
Insurance Services Office, Inc. (ISO), a subsidiary of Verisk Analytics, is a provider of statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace.[1] Headquartered in Jersey City, New Jersey, United States,[2] the organization serves clients with offices throughout the United States, along with international operations offices in the United Kingdom, Israel, Germany, India and China.[3]
| |
 Verisk corporate headquarters in Jersey City, New Jersey where Verisk's ISO business is located | |
| Company type | Subsidiary |
|---|---|
| Founded | 1971 |
| Headquarters | Jersey City, New Jersey, |
| Parent | Verisk Analytics |
| Website | verisk |
Overview
ISO was formed in 1971 as an advisory and rating organization for the property/casualty insurance industry to provide statistical and actuarial services, to develop insurance programs, and to assist insurance companies in meeting state regulatory requirements.[4] It became a wholly owned subsidiary of Verisk Analytics in October 2009.[5]
ISO provides a number of risk-related services to its clients:[1]
- Fire and building code information
- Insurance lines services
- Including standardized text for insurance forms
- Collecting the data
- Insurance products for agents
- Workers' compensation
- Medicare compliance and claims resolution services
ISO's databases contain more than 19 billion detailed records relating to insurance and risk management, which form the basis for its information services,[6] with two billion records collected each year.[7] ISO employs many members of the Casualty Actuarial Society and other insurance professionals to develop its risk-related products and services.