ValueMomentum solutions, including ISO Electronic Rating Content™ (ERC™), to support new products and expansion into new markets
Piscataway, N.J.— ValueMomentum, Inc., a provider of software and services to the insurance, healthcare, and financial services industries, announced today that Frederick Mutual Insurance Company (Frederick Mutual), a strong and reliable insurance company established in 1843, is now live with ValueMomentum solutions, including the ISO Electronic Rating Content™ (ERC™) Businessowners Program, to propel the insurer’s transformation initiative, which includes new products and expansion into new markets.
ValueMomentum offerings selected by Frederick Mutual include BizDynamics Digital Solution and iFoundry Rating Engine, which fully automates ISO Electronic Rating Content (ERC), allowing Frederick Mutual to launch and maintain rating for its lines of business.
Referring to itself as a “174-year-old start-up,” Frederick Mutual’s vision is to leverage ValueMomentum solutions to transform its operation from a regional mutual insurance provider to a progressive and modern organization able to easily and aggressively expand within its current geographic markets and into additional markets with new personal and commercial lines product offerings.
“Providing our agents with competitive products is an important step in our transformation says Nancy Newmister, president and CEO of Frederick Mutual Insurance Company. “Working with ValueMomentum and ISO affords us the ability to quickly adjust to changing market conditions and new opportunities.”
Frederick Mutual’s anticipated benefits from the implementation of ValueMomentum solutions, including ISO ERC™, provide:
• speed to market for new products, including those specifically designed to appeal to all generations and the upcoming millennial workforce
• a more robust portal to support an omni-channel environment that includes agents, customers, and employees
• agility to quickly adjust to changing market conditions and new opportunities
• easy and efficient maintenance of ISO rating information, including ISO loss costs, rules, and forms
“The initiative seemed more challenging than anticipated considering the various technologies we were integrating our software with. While, that’s a known phenomenon with technology implementations, I am proud of the collaboration between our organizations to cross this important milestone We look forward to building on the trust Nancy has laid on ValueMomentum as we continue onto delivering new products and an omni-channel experience to agents, customers and employees” said Swarup Ghosh, Chief Delivery & Services Officer at ValueMomentum.
“We’re pleased that Frederick Mutual is working with ValueMomentum, an important ISO ERC vendor-partner,”said Mark Sheehan, vice president of ISO Rating Solutions. “We look forward to collaborating with ValueMomentum and helping Frederick Mutual pursue its plans to grow and expand into new markets.”