updated 3/9/2011 12:16:28 PM ET 2011-03-09T17:16:28

JERSEY CITY, N.J., March 9, 2011 (GLOBE NEWSWIRE) -- ISO announced today that Nationwide Mutual Insurance Company has licensed the environmental module of ISO Risk Analyzer® Personal Auto for use in New York State. The approval of the Nationwide filing incorporating ISO Risk Analyzer Personal Auto by the New York Department of Insurance enables Nationwide to deploy ISO's predictive analytics solution to classify, segment, and price New York personal auto risks. Nationwide Mutual Insurance, a multiline insurance company, is the sixth largest auto insurer and eighth largest property/casualty insurer in the United States.

"ISO continues to pave the way for individual companies to make their filings using the output of the environmental module of ISO Risk Analyzer Personal Auto," said Kevin B. Thompson, senior vice president, ISO. "We are working with insurance regulators in an effort to secure implementations in additional states."

"By using ISO Risk Analyzer, insurers of all sizes can find new ways to strengthen their segmentation and positioning in the marketplace. No other predictor of future loss cost encompasses the amount and type of industry data and the interactive effects of as many external indicators," added Thompson.

Twenty-four states have acknowledged or approved ISO's optional personal auto rating plan rule filing that incorporates the environmental module of ISO Risk Analyzer Personal Auto.

By predicting expected losses for personal auto risks at the policy level by major coverage, the environmental module of ISO Risk Analyzer Personal Auto helps insurers evaluate personal auto risks with better accuracy. Developed with advanced predictive modeling techniques, the environmental module analyzes the interactive effects of hundreds of variables derived from data from ISO and external sources and provides insurers the flexibility to assess and refine personal auto rating with one set of analytic tools.

"Using predictive analytics and statistical modeling along with actuarial expertise, ISO examined indicators in areas where people live and drive that affect personal auto losses," said Marty Ellingsworth, president of ISO Innovative Analytics. "This effort led to the creation of the powerful environmental module of ISO Risk Analyzer Personal Auto."

IIA, an ISO division, is devoted to developing innovative analytic decision-support tools based on predictive modeling. Drawing on ISO's vast resources and expertise in actuarial science, data management and integration, statistical modeling, and information technology, IIA delivers leading-edge analytic tools that reflect ISO's broad experience and deep understanding of risk. Currently, the ISO Risk Analyzer product suite includes Personal Auto, Homeowners, Commercial Auto, and ISO PreScreen Personal Auto. IIA is also working on several other initiatives, including additional modules for its personal auto model.

About Nationwide

Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by A.M. Best. The company provides a full range of personalized insurance and financial services, including car insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans, and health and productivity services. For more information, visit www.nationwide.com .

About ISO

Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud-identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics. For more information, visit www.iso.com and www.verisk.com .

The ISO logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7222

About Verisk Analytics

Verisk Analytics (Nasdaq:VRSK) is a leading provider of information about risk to professionals in insurance, healthcare, mortgage, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision-support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com .

The Verisk Analytics logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6694
 

CONTACT: Susan Kenney/Jessica Riccardi
         MWW Group (for ISO)
         (201) 507-9500
         skenney@mww.com
         jriccardi@mww.com

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