Mid-Hudson Co-Operative Insurance Company (MHC) has selected Sequel Business Solutions (Sequel) a Verisk business to provide underwriting and claims solutions to underpin migration to ISO ERC (electronic rating content) for rating support. New York based MHC is a member of the National Association of Mutual Insurance Companies and provides personal, commercial and farm insurance via New York state agency Statewide Underwriting Services.
ISO ERC helps insurers to stay current and implement the necessary changes ISO makes to its advisory loss costs, rules, and forms for a range of insurance classes and reduces the time and effort required to analyze regular ISO updates.
Eddie Harper President & CEO of Statewide Underwriting Services said of the agreement, “We were impressed by both Sequel’s technology and their expertise and fact that Sequel is a Verisk business was an important component in our decision making. Like many agencies and insurers moving to ISO ERC for rating support is key to providing an efficient service to our customers. However, it was also important to upgrade our underwriting, policy administration and claims platform overall hence the dialogue with Sequel. Sequel has a range of leading-edge solutions and the expertise to support MGA’s, coverholders and insurers on a global basis.
Rob Stavrou Chief Commercial Officer – US and APAC, said of the implementation, “we are delighted to work with Eddie and his team at Statewide Underwriting Services and MHC. In addition to migrating to ISO ERC for rating support many insurers need to upgrade their underwriting, policy administration and claims platforms in order to compete and meet the expectations of their clients. The two go hand in hand. Our aim at Sequel is to provide scalable solutions that capture data and integrate with distribution channels and third-party data critical to supporting efficient underwriting and product development.”
Sequel is a leading, award-winning insurance and reinsurance software specialist. Since 1993, Sequel’s success has been built on industry expertise, professionalism and an unrivalled track record for delivering powerful software and high quality services on time and on budget. It’s Eclipse business software and responsive services are driving the growth and success of some of the world’s leading insurance organisations – insurers, reinsurers, brokers, MGAs, coverholders, and start-ups – operating across international insurance markets including Lloyd’s. Sequel also offer fully hosted Managed Application Services, for insurance organisations looking to benefit from outsourcing and a cloud solution. compliance. Sequel’s range of software and services include end to end insurance solutions, underwriting, policy administration, claims, reinsurance, exposure management and analytics.