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Market Cap £20.43bn
Enterprise Value £22.44bn
Revenue £2.03bn
Position in Universe 454th / 6854

Mid-Hudson Co-Operative Insurance Company Selects Verisk’s Sequel to Deploy Integrated Underwriting and Claims Solutions Following Migration to ISO Electronic Rating Content

Thu 15th April, 2021 1:00pm
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JERSEY CITY, N.J., April 15, 2021 (GLOBE NEWSWIRE) -- Mid-Hudson Co-Operative
Insurance Company (MHC) has selected Verisk’s Sequel
(https://www.sequel.com/) to provide underwriting and claims solutions to
underpin migration to ISO Electronic Rating Content™ (ERC) 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.

Verisk’s ISO ERC solution
(https://www.verisk.com/insurance/products/electronic-rating-content-suite/erc/)
helps insurers stay current and implement the necessary updates 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,
eliminating tedious work and quickening ratings workflows.

Eddie Harper President and CEO of Statewide Underwriting Services said of the
agreement, “We were impressed by both the Sequel technology and expertise
and the fact that Sequel is a Verisk solution 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 Verisk.
Verisk’s Sequel suite has a range of leading-edge solutions and the
expertise to support MGAs, coverholders and insurers on a global basis.”

Rob Stavrou Chief Commercial Officer – U.S. and APAC over Verisk’s Sequel
solutions, 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 to compete and meet
the expectations of their clients. The two go hand in hand. We aim to provide
scalable solutions that capture data and integrate with distribution channels
and third-party data critical to supporting efficient underwriting and product
development.”

Verisk’s Sequel solution suite offers full end-to-end management of
insurance and reinsurance business, offering clients a clearer vision to grow
their business with greater efficiency, flexibility and data governance.
Verisk offers Sequel across the global insurance markets from offices in
Jersey City, New Jersey; London, England; and Malaga, Spain.

About Verisk
Verisk (Nasdaq:VRSK
(http://www.globenewswire.com/News/Listing?symbol=VRSK&exchange=2)) provides
predictive analytics and decision-support solutions to customers in the
insurance, energy and specialized markets, and financial services industries.
More than 70 percent of the FORTUNE 100 relies on the company’s advanced
technologies to manage risks, make better decisions and improve operating
efficiency. The company’s analytic solutions address insurance underwriting
and claims, fraud, regulatory compliance, natural resources, catastrophes,
economic forecasting, geopolitical risks, as well as environmental, social and
governance (ESG) matters. Celebrating its 50(th) anniversary, the company
continues to make the world better, safer and stronger, and fosters an
inclusive and diverse culture
(https://www.verisk.com/siteassets/media/downloads/statement-on-racial-equity-and-diversity/verisk-statement-on-racial-equity-and-diversity.pdf) where all team
members feel they belong. With more than 100 offices in nearly 35
countries, Verisk consistently earns certification by Great Place to Work
(https://www.greatplacetowork.com/certified-company/1288593). For
more: Verisk.com (http://www.verisk.com/), LinkedIn
(https://www.linkedin.com/company/verisk-analytics/mycompany/), Twitter
(https://twitter.com/Verisk), Facebook
(https://www.facebook.com/VeriskAnalytics/) and YouTube
(https://www.youtube.com/channel/UCJQSl1TiJjgGAIjOJMJwP9w).

About Statewide Underwriting Services
Statewide Underwriting Services (SWUS) is the MGA that facilitates and
coordinates all major functions for doing business with Claverack Co-Op,
Mid-Hudson Co-Op, and Midrox Insurance Companies. SWUS is the single point of
entry to all three underwriting companies, allowing agents to enjoy greater
ease of doing business and to take full advantage of the benefits available
through all three companies. For more information, please visit www.swus.com,
call 845-457-5001, or email info@swus.com

Media Contact:
Brett Garrison
Edelman (for Verisk)
917-639-4903
Brett.Garrison@edelman.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/b5d7b791-2d4f-4f5f-b469-18d25906d035)



GlobeNewswire, Inc. 2021
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