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FJA and AAIS Schedule Demonstration of New Commercial Output Rating Engine

AAIS Press Release: May 6, 2013

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A national insurance advisory organization and a leading insurance software developer have scheduled a demonstration of a new application for rating commercial output policies.

The American Association of Insurance Services (AAIS) is sponsoring the demonstration from 8-10 a.m. Eastern time, May 22, at the InterContinental Buckhead Hotel in Atlanta, Ga., following the conclusion of the annual meeting of the Inland Marine Underwriters Association (IMUA). Attendance is free of charge to anyone interested, and breakfast will be provided. To reserve a spot, contact Sheila Morris, AAIS manager of inland marine.

AAIS is a national insurance advisory organization that develops policy forms and manuals used by more than 700 property/casualty carriers throughout the US.

Among the programs AAIS maintains is the Commercial Output Program (COP), an industry-leading property program designed to provide broad commercial property and inland marine coverage in its base form and coverage parts. The COP utilizes a unique deficiency point rating system for rating each risk as a single entity rather than as the sum of disparate exposures.

During the session on May 22, FJA-US, Inc. will be demonstrating a prototype of a new rating and management engine that will support centralized product maintenance for policies based on the COP.

FJA-US is a software development and operational consulting firm with more than 30 years of experience as a provider of enterprise software and services to the insurance industry. Using FJA's rating engine, users of the AAIS COP will be able to rate COP policies through web service requests, data import and export, or direct entry of risk information into a web-based form.

During a demonstration of the COP rating prototype at the recent AAIS Main Event conference, FJA explained how the application could help companies stay current with the program without necessarily tapping their own IT resources, yet still have the flexibility to implement company-specific rules and features.

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